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Misonix Reports Nine Months Fiscal 2013 Financial Results
Date:5/9/2013

ntinued to invest in research and development, sales, marketing and customer support capabilities.

For the nine months, the Company reported a net loss of $1.1 million, or $(0.16) per share, which included income from discontinued operations of $181,800, or $0.03 per share, compared to a net loss of $78,488, or $(0.01) per share in the comparable nine month period of 2012, which included a net loss from discontinued operations of $369,424, and a gain from the sale of discontinued operations of $1.1 million, totaling net income from discontinued operations of $773,966, or $0.11 per share.

Michael A. McManus, Jr., president and chief executive officer of Misonix, commented, "For the nine months of fiscal 2013, we had a very positive impact from the recurring revenue component of our business – disposables sales of our flagship BoneScalpel, SonicOne and SonaStar products. Revenue from the sale of disposables totaled $4.8 million, or 43% of total sales. On a sequential basis, BoneScalpel disposables revenue and unit sales increased 48% and 44%, respectively, in the third quarter from the second quarter. 

"Disposable revenue is significant in that hospitals across the country are increasingly evaluating medical devices for efficacy and cost effectiveness and have distinctly lengthened the domestic sales cycle. The resulting delay in completing instrument sales or placements is now being increasingly offset by our growing recurring revenue component. In addition, we are now benefitting to a greater degree by expanded royalty income and license fees. We have developed a significant portfolio of intellectual property and are pleased to see that it is generating increasing royalty revenue, predominantly from Covidien, as evidenced by the $1.8 million earned in the nine months of 2013 compared to the $462,000 earned in the comparable nine months of 2012."

"While the dynamics in the healthcare markets appear to be changing, we are well
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SOURCE Misonix, Inc.
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