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

an increase of 25% from $1.4 million in the same quarter last year.  Excluding the impact of foreign exchange translation, sales outside the U.S. increased by approximately 11%.

"Although our operating loss increased during the first quarter, it was well within our expectations, particularly given our continued expenditures as we expand our U.S. direct sales organization and internal staff to support this field organization," added Mr. Kaysen.  The operating loss for the fiscal first quarter ended June 30, 2011 was $1.3 million compared with $926,000 in the prior year quarter.  The operating loss, excluding non-cash charges for share-based compensation and depreciation and amortization expense, of $934,000 in the fiscal first quarter increased from approximately $566,000 in the year ago quarter.  "We have invested heavily in our sales force and expect that investment to help fuel the growing use of the Urgent PC product in the future," noted Mr. Kaysen. "We ended the quarter with over $18 million in cash and cash investments and expect this cash, much of which was raised in last year's public offering, to be sufficient to finance our expansion."

"The fiscal first quarter was a good start to the new fiscal year and we look forward to continued execution of our growth initiatives.  We have expanded our sales force and today have a field staff of 39 employed sales representatives, five regional sales directors and four reimbursement managers.  This sales staff is focused on reaching new physicians to demonstrate the benefits of Urgent PC, and Macroplastique.  With what we believe is a significant market opportunity, a solid sales team, and products that clinical studies have demonstrated are effective and safe, we believe we are well positioned to generate strong sales growth and improved bottom line results during the fiscal year," Mr. Kaysen concluded.

Conference Call Uroplasty will host an audio conference
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SOURCE Uroplasty, Inc.
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