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Misonix Reports a 29% and 24% Increase in Revenue for the Second Quarter and Six Months Fiscal 2012 Financial Results
Date:2/8/2012

primarily attributable to sales of the Company's BoneScalpel™ and Neuroaspirator products.

Gross profit as a percentage of sales (gross profit percentage) was 63.9% for the three months ended December 31, 2011 compared with 62.4% for the three months ended December 31, 2010.  

The Company reported income from continuing operations of $228,000 or $0.03 per diluted share for the three months ended December 31, 2011 compared with a loss of $505,000 or $(0.07) loss for the same period in fiscal 2011.  The Company reported net income for the three months ended December 31, 2011 of $1.0 million, or $0.15 per share, compared to a net loss of $536,000, or $(0.08) per share, for the three months ended December 31, 2010.

Revenue for the six months ended December 31, 2011 was $6.8 million, a 24% increase when compared with $5.5 million for the same period in fiscal 2011.

The Company reported net income of $136,000 or $0.02 per share for the six months ended  December 31, 2011 compared with a net loss of $1.6 million or $(0.22) per share for the six months ended December 31, 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 core medical device products. We continue to reduce G&A expenses, having 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 in total ov
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SOURCE Misonix, Inc.
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