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Misonix Reports First Quarter Fiscal 2010 Financial Results
Date:11/16/2009

FARMINGDALE, N.Y., Nov. 16 /PRNewswire-FirstCall/ -- Misonix, Inc. (Nasdaq: MSON), a developer of minimally invasive ultrasonic medical device technology, which in Europe is used for the ablation of tumors and worldwide for other acute health conditions, today reported the financial results for the first fiscal quarter 2010 ending September 30, 2009. Michael A. McManus, Jr., President and Chief Executive Officer, and Richard Zaremba, Senior VP and Chief Financial Officer, will host a conference call Monday, November 16, 2009 at 4:30pm to discuss the Company's first fiscal quarter financial results.

The Company also reported the following financial and operational achievements:

  • On August 5, 2009, we closed the transaction for the sale of our Labcaire Systems Ltd. subsidiary ("Labcaire") to PuriCore International, Limited for up to $5.6 million.
  • On October 2, 2009, we closed a transaction for the sale of substantially all of the assets of Sonora to Medical Imaging Holdings, Inc. for a cash payment of $8 million which is reported as assets held for sale on the Company's Consolidated Balance Sheets as of September 30, 2009.

First Quarter Fiscal 2010 vs. First Quarter Fiscal 2009 Financial Results

Revenue was $2.7 million, a decrease of $.4 million compared to $3.1 million for the first quarter of 2009. The decrease in revenue for the first quarter of 2010 was due to a decrease of $.4 million in medical device products sales to $2.1 million. Reduced sales of the Company's Lysonix(TM) Ultrasonic Assisted Liposuction, SonaStar® Ultrasonic Surgical Aspirator and Autosonix® Cutting and Coagulating System were partially offset by an increase in sales of the SonicOne® Wound Debridement System and Bone Scalpel(TM).

Net loss from continuing operations for
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SOURCE Misonix, Inc.
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