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Misonix Reports Fourth Quarter and Year-End Fiscal 2011 Financial Results
Date:9/20/2011

per share, which included a loss from discontinued operations of $1.1 million, primarily from legal expenses and settlement costs incurred in the PuriCore matter, compared to a net loss of $2.9 million or $.41 per share which included a loss from discontinued operations of $671,000 for the year ended June 30, 2010.  Backlog of unfilled orders as of June 30, 2011 was $2.4 million. Medical device products backlog was $2.1 million and Laboratory and Scientific products backlog was $.3 million.

Commenting on Misonix's financial and operating results, Michael A. McManus Jr., President and Chief Executive Officer, said, "During the fourth quarter and fiscal year end  2011, we stayed on course with strong revenue growth and a continued improvement in gross profit margin. Our solid growth in revenues highlights the success of our distribution channel strategy implemented in fiscal 2010 and 2011, which established our 75 person sales force in the U.S., substantially expanded our relationships with international distributors, and transitioned certain marketing partner relationships to non-exclusive distribution. We continue to see the benefit of the direct sales of our Neuroaspirator product both in terms of increased revenue and margin. Our BoneScalpel(TM) is starting to gain traction in the Maxiofacial surgery market and we expect sales to start during the first half of our fiscal 2012 year for the SonicOne® in the operating room for surgical debridement. We are very enthusiastic about these new market segments.   The products will be sold throughout the world exclusively by our own sales organization.

"On the operational front, two of our key initiatives have been to relentlessly focus on cost management while continuing to provide best-in-class products. We are confident that we have accomplished our cost reduction effort aimed at lowering our general and administrative expenses by approximately $500,000 from the prior year. We were abl
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