Misonix Reports Fourth Quarter and Fiscal Year 2009 Financi... (/p Commenting on Misonix's financial a...)

Misonix Reports Fourth Quarter and Fiscal Year 2009 Financial Results

Date:10/1/2009

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Commenting on Misonix's financial and operating results, Michael A. McManus, Jr., President and Chief Executive Officer, said, "During the fiscal year 2009 we accomplished a number of goals to increase shareholder value. During a time of challenging global economic conditions, we deemed it strategically important to focus more of our resources on growing our high gross margin medical device business. We successfully reached an agreement to sell our equity interest in Focus Surgery, Inc., in addition to receiving payment for a portion of our debt. The remaining portion will be paid in January 2010. We also sold our Ultrasonic Laboratory Products business for $3.5 million. The cash from these transactions will enable us to seek opportunities to enhance our value by adding new products, increasing our sales efforts, shorten development times and for general corporate purposes.

Our significant investment in R&D over the last few years has provided us with new medical device products that should enable us to grow more rapidly. This year we launched the SonicOne for wound cleansing and debridement and the BoneScalpel(TM) for spinal surgery. Both products are being sold into very large, multi billion dollar market segments. We introduced our own direct sales managers in the U.S. to supplement our contract sales agent network. These individuals, each with more than 15 years experience, together with our contract sales agents, are selling the SonicOne and SonaStar(TM) directly to doctors, hospitals and clinics. This sales force enables us to focus more on the customer and capture substantially more margin on the sale of our products.

To further broaden our sales footprint, we have aggressively expanded into international markets by the signing of 14 new distributors and agencies. We have also hired a new, direct manager to handle Latin American sales and distribution. We continue to work on our European distribution for the Sonabla
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SOURCE Misonix, Inc.
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Misonix Reports Fourth Quarter and Fiscal Year 2009 Financi...(/p Commenting on Misonix's financial a...),Health