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Misonix Reports Strong Revenue Increases for the First Quarter of Fiscal 2013
Date:11/7/2012

o $254,387 in the first quarter last year. SonaStar revenue increased 21% to $1.6 million compared to $1.3 million in the first quarter last year.

Gross margin increased to 59.7% for the first quarter of fiscal 2013 from 54.8% for the first quarter ended September 30, 2012. Operating expenses for the first fiscal quarter increased nine percent primarily attributable to continued expansion of the Company's in-house sales force, commissions on expanded product sales and increased advertising and depreciation expense due to increased rented/leased/no-cap units in the field. Income from continuing operations before income taxes for the quarter was $40,016 compared to a loss from continuing operations before income taxes of $799,026 in the first quarter of 2012.

The financial results for the first quarter included net income from discontinued operations of $6,318, or $0.00 per fully diluted share – adjusted for taxes – primarily related to the sale of the Company's Laboratory and Forensic Safety Products business.

For the first quarter of fiscal year 2013, the Company reported net income of $44,834, or $0.01 per diluted share, compared to a net loss of $833,942, or $(0.13) per diluted share, in the first quarter of fiscal 2012.

Michael A. McManus Jr., President and Chief Executive Officer of Misonix, commented, "We are off to a very good start in fiscal 2013. We achieved strong revenue growth across our major product lines. First quarter sales in the U.S. increased 30% and International sales increased 58% as our distribution networks continue to gain traction. We had exceptionally strong revenue increases in Asia, Australia, South America and South Africa.

"We continue to expand our distribution capabilities both in and outside the U.S. We are beginning to see the acceptance of our SonicOne for the treatment of wounds in operating room procedures. We are pleased with the way that our products are being accepted by the su
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SOURCE Misonix, Inc.
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