Misonix Reports Fourth Quarter and Fiscal Year 2009 Financi... ( FARMINGDALE N.Y. Oct. 1 /- Misonix In...)

Misonix Reports Fourth Quarter and Fiscal Year 2009 Financial Results

Date:10/1/2009

FARMINGDALE, N.Y., Oct. 1 /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, reported financial results for the fourth quarter and fiscal year ended June 30, 2009.

The Company also reported the following financial and operational achievements:

A cash payment of $3.5 million was received on April 7, 2009 from the sale of its Ultrasonics Laboratory Products business. Current and prior period results and the gain on the sale of the Ultrasonic Laboratory Products business are reported in the Company's financial statement as discontinued operations
Launched two new products into multi-billion dollar market segments
Launched a direct sales force in the U.S. for the SonicOne® Wound Cleansing and Debridement System
Added 14 new international distributors
Reduced inventories by 44% to $6.6 million as of June 30, 2009
Reduced accounts payable and accrued expenses and other current liabilities by 37% to $6.5 million
Reduced general and administrative expenses by 14% to $9.0 million as of June 30, 2009
On August 5, 2009 closed the transaction for the sale of Labcaire Systems, Ltd. to Puricore for up to $5.6 million and is reported as a subsequent event

Revenues for the fourth fiscal quarter ending June 30, 2009 were $10.5 million compared to $10.6 million for the three months ended June 30, 2008. The results reflect only continuing operations as of June 30, 2009 and 2008 as discontinued operations are excluded from such results. Discontinued operations represent the results of and the gain from the sale of the Ultrasonic Laboratory Products business. Revenues were adversely impa
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SOURCE Misonix, Inc.
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Misonix Reports Fourth Quarter and Fiscal Year 2009 Financi...( FARMINGDALE N.Y. Oct. 1 /- Misonix In...),Health