The Company reported a pre-tax loss from continuing operations of $819,000 for the three months ended September 30, 2011 compared with a pre-tax loss of $804,000 for the same period in fiscal 2010. The Company reported a net loss for the three months ended September 30, 2011 of $884,000, or $.13 per share, including a loss of $60,000 from discontinued operations, compared to a net loss of $1 million, or $.15 per share, including a loss of $175,000 from discontinued operations, for the three months ended September 30, 2010.
Commenting on Misonix's financial and operating results, Michael A. McManus Jr., President and Chief Executive Officer, said, "We are pleased at the growth of our revenues and continued trends in gross margins particularly with respect to our medical device products. We continue to reduce G&A expenses and we made additional progress this quarter. We will continue to manage our administrative expenses prudently, while supporting investments in product development and sales and marketing. In late October, we announced the sale of our Laboratory and Forensic Safety Products business. This sale of a non core business completes our strategy to focus exclusively on medical device products and enabled us to strengthen our balance sheet with an additional $1.5 million and an opportunity to receive an additional $500,000 over the next three years. Our plan is to use the proceeds to continue to invest in our sales and marketing efforts in our Medical Device business.
"We remain committed to our strategic vision and belief that increased medical device sales through our proprietary sales channels, our emphasis on high margin disposables, a broader geographic reach and development of new surgic
|SOURCE Misonix, Inc.|
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