Rochester Medical Reports Fourth Quarter and Annual Results and Announces Final Medicare Approval for Reimbursement for the FEMSOFT...(year of $109000 or $.01 per diluted shar...),Health

Date:11/5/2009

year of $109,000 or $.01 per diluted share compared to net income of $759,000 or $.06 per diluted share for the previous year. The approximate 1% decrease in annual sales (7% increase on a constancy currency basis) resulted from a 2% decrease in Rochester Medical Branded Sales (10% increase on a constant currency basis) partially offset by a 2% increase in Private Label Sales (2% increase on a constant currency basis).

Non-GAAP Net Income for the current year was $865,000 or $.07 per diluted share compared to Non-GAAP Net Income of $2,174,000 or $.17 per diluted share for the previous year. The decrease for the current year on a Non-GAAP basis is primarily due to the impact of exchange rate variation and increased investment in Sales and Marketing. It is also due to a tax benefit of $654,000 taken in the third quarter of last year and higher interest income in the prior year.

Rochester Medical also announced that a device reimbursement code has been issued this week by Medicare covering the Company's FemSoft Insert, which is a soft disposable device used to manage female stress urinary incontinence. The Company believes the availability of Medicare reimbursement, which commences in 2010, will help this unique device become an economically accessible and often preferred solution for incontinent women in the U.S.

Commenting on today's announcements, Rochester Medical's CEO and President Anthony Conway said, "First I must say that I am delighted with the Medicare reimbursement approval for the FemSoft Insert. This unique technology has the potential to help millions of women deal with the difficulties of incontinence with comfort, dignity, and grace. Rochester Medical is putting the appropriate plans in place to ensure that clinicians and women throughout the country have access to this excellent choice.

"Regarding the quarterly results, I think it is particularly important to highlight our progress in the
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SOURCE Rochester Medical Corporation Copyright©2009 PR Newswire. All rights reserved

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