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Misonix Reports Financial Results for First Half of Fiscal 2013
Date:2/7/2013

months ended December 31, 2012.

For the six months, royalty income received predominantly from Covidien increased 128% to $714,000.

Gross margin for the six months ended December 31, 2012 was 56.9%, primarily attributable to an unfavorable mix of low and high margin product deliveries in addition to the $360,000 amount due to Puricore International Limited under the terms of our contract. Operating expenses for the six month period increased 13% as the Company continued to invest in expanding its sales, marketing and customer support capabilities.

For the six months of fiscal year 2013, the Company reported a net loss of $(609,000), or $(0.09) per diluted share, compared to net income of $136,000, or $0.02 per diluted share, in the six months of fiscal 2012, which included income from discontinued operations ofr $712,000 for the sale of the Company's Laboratory and Forensic Safety Products Business in October 2011.

Michael A. McManus Jr., President and Chief Executive Officer of Misonix, commented, "Top-line results for the first half of fiscal 2013 are solid. Revenue for the six months increased 19%. We are particularly pleased with the 31% increase in international revenue for the first half of the year. We achieved strong revenue growth across our major product lines including BoneScalpel revenue that increased 99% and SonicOne revenue that increased 82%. Sales of our SonaStar product in the first half of 2013 were comparable to those of the same period last year. We are very pleased with the continuing acceptance by the surgical community worldwide of our BoneScalpel and SonicOne products. There were four abstracts submitted on the clinical benefits of using the BoneScalpel in spine surgery and three abstracts with regards to the benefits of utilizing our SonicOne product for wound healing during the first half and second fiscal quarter of 2013 respectively. On a cumulative basis, if we exclude declining revenue from our legacy produ
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SOURCE Misonix, Inc.
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