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

ent by a former competitor that they were exiting the bulking market.

"Our fiscal first quarter reflects the increasing adoption and utilization of our Urgent PC System, as well as strength in sales of Macroplastique as we aggressively pursue a short-term opportunity to capture market share," said David Kaysen, President and CEO of Uroplasty, Inc.  "Acceptance of Urgent PC is growing, as demonstrated by the increasing number of active customers.  The number of lead set boxes sold increased from 1,668 in the fiscal fourth quarter of 2011 to 1,985 in the fiscal first quarter of 2012."

"Last week we announced that Health Care Service Corporation (HCSC), the second largest Blue Cross Blue Shield affiliate and the fourth largest private payer in the U.S., will cover PTNS therapy using the Urgent PC Neuromodulation System beginning August 1, 2011.  HCSC covers approximately 13 million lives in Texas, Illinois, New Mexico and Oklahoma," Mr. Kaysen indicated.  "We were also pleased that Blue Cross Blue Shield of Nebraska, covering approximately 668,000 lives, initiated coverage beginning May 18, 2011.  This brings the total number of persons covered by insurance that provides reimbursement for PTNS treatments, including both Medicare coverage and private payer coverage, to approximately 115 million."

"Sales of Macroplastique, particularly in the U.S., were a significant factor in our sales growth during the quarter.  With the exit of a major competitor, we have a short window of opportunity to present the benefits of our product and gain new customers for Macroplastique.  Our efforts during the quarter were very successful and established a new sales record for Macroplastique.  We anticipate continued growth in sales of this product in the U.S. over the next few quarters," continued Mr. Kaysen.

Net sales to customers outside of the U.S. for the fiscal first quarter ended June 30, 2011 totaled $1.8 million,
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SOURCE Uroplasty, Inc.
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