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Trimedyne Reports Financial Results For The Quarter And Fiscal Year Ended September 30, 2012
Date:2/1/2013

LAKE FOREST, Calif., Feb. 1, 2013 /PRNewswire/ -- TRIMEDYNE, INC. (OTCBB "TMED") reported revenues of $6,080,000 for the fiscal year ended September 30, 2012, a 9% decrease from revenues of $6,656,000 for the prior fiscal year.  The decrease in revenues was largely due to a decrease in sales of Lasers, partially offset by an increase in sales of Fibers, Needles and Tips.

The Company had an operating loss of $1,170,000 for the 2012 fiscal year, compared to an operating loss of $1,522,000 for the prior fiscal year.  Due to economies instituted in the past year, the Company had net loss of $836,000 or $0.05 per share for the fiscal year ended September 30, 2012, as compared to a net loss of $1,486,000 or $0.08 per share for the prior fiscal year.

For the quarter ended September 30, 2012, the Company had revenues of $1,449,000, a 16% decrease from revenues of $1,732,000 for the same quarter of the prior year.  Due to economies instituted in the past year, the Company had an operating loss of $340,000 for the quarter ended September 30, 2012, compared to an operating loss of $683,000 for the same quarter of the prior year.  The Company had a net loss of $314,000 or $0.02 per share for the quarter ended September 30, 2012, versus a net loss of $689,000 or $0.04 per share for the year earlier quarter.

Included in the cost of sales for the fiscal year and quarter ended September 30, 2012, was a charge for excess and obsolete inventory of $225,000.  Without this non-cash charge, the Company's loss from operations for the fiscal year and quarter ended September 30, 2012, would have been $945,000 and $115,000, respectively, and the Company's net loss for the fiscal year and quarter ended September 30, 2012, would have been $611,000 and $89,000, respectively.

The Company ended the 2012 fiscal year with cash and equivalents of $472,000 and receivables and other current assets of $651,000, v
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SOURCE Trimedyne, Inc.
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