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Misonix Reports First Quarter Fiscal 2011 Financial Results
Date:11/12/2010

onths ended September 30, 2009.  Gross profit for laboratory and scientific products increased to 29.1% for the three months ended September 30, 2010 from 16% for the three months ended September 30, 2009.

The Company reported a net loss from continuing operations of $842,531 or $.12 per share for the three months ended September 30, 2010 compared with a loss of $1.2 million or $.18 per share for the same period in fiscal 2010.  The Company reported a net loss attributable to Misonix, Inc. shareholders for the three months ended September 30, 2010 of $1.0 million or $.15 per share which included a loss from discontinued operations of $175,000 or $.03 per share compared to a net loss of $895,000 or $.13 per share attributable to Misonix, Inc. shareholders which included income from discontinued operations of $352,000 or $.05 per share for the three months ended September 30, 2009.

Commenting on Misonix's financial and operating results, Michael A. McManus, Jr., President and Chief Executive Officer, said, "We are pleased by both the revenue and gross margin increases in our medical device products for this quarter.   We have made significant cost reductions and we should see the full impact of those in our second fiscal quarter.  We continue to maintain a strong cash balance with no borrowings.

"Our recent acquisition of the Aesculap Neuroaspirator business gives us the opportunity to grow this business using our salesforce and the Misonix brand.  Margins from this business are expected to increase from direct sales and the disposables revenue stream. We are also encouraged by the revenue growth of the BoneScalpel and SonicOne and are optimistic about this trend.

"We are continuing to build out our sales distribution network having recently added strong partners in China, Russia and the Middle East. Also, we continue to look at opportunities to increase our growth from potential acquisitions and the distribution o
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SOURCE Misonix, Inc.
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