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Uroplasty Reports Financial Results for the First Quarter of Fiscal 2012
Date:7/28/2011

MINNEAPOLIS, July 28, 2011 /PRNewswire/ -- Uroplasty, Inc. (NASDAQ: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today reported financial results for the first quarter of fiscal 2012 ended June 30, 2011.

Global sales grew 53% to $4.7 million in the fiscal first quarter ended June 30, 2011, compared with $3.0 million in the fiscal first quarter a year ago.  The increase reflects continued strength in U.S. sales, which increased 78% in the quarter ended June 30, 2011 from the prior year's fiscal first quarter.  The increase in U.S. sales was a result of both a 72% increase in sales of the Urgent PC Neuromodulation System and an 82% increase in sales of Macroplastique.

Urgent PC sales were $1.5 million in the quarter ended June 30, 2011, compared with $0.9 million in the same quarter last year.  The number of active Urgent PC customers in the U.S. increased to 401 in this year's first quarter from 346 in last year's fourth quarter and establishing a new quarterly record for active customers.

The growth in Urgent PC sales is a direct consequence of the increased availability of reimbursement for Urgent PC treatments using the Category I CPT® code for posterior tibial nerve stimulation (PTNS) that became available in January 2011. Ten of the 13 regional Medicare carriers and a number of private payers have confirmed coverage under the new code and the Company believes that the reimbursement rates are favorable for treatment using the device.  

The growth in sales of Macroplastique was also a significant contributor to the increase in U.S. sales.  Macroplastique sales in the U.S. were $1.3 million in the quarter ended June 30, 2011, compared to $0.7 million during the same quarter last year.  Contributing to this increase was the announcem
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SOURCE Uroplasty, Inc.
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