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Uroplasty Reports Financial Results for the Second Quarter FY2011
Date:10/27/2010

itions with the company and are scheduled to be on board by early November.  We have also added three field reimbursement specialists and are looking for a fourth.  With the four field sales managers already in place, we are well on our way to building the sales organization we believe we need to execute a successful marketing effort for Urgent PC.  We anticipate that the new CPT code number and reimbursement rates will be assigned and published in the Federal Register by the Centers for Medical and Medical Services (CMS) very shortly and we want to be well-positioned to move forward as quickly as possible to educate physicians and consumers about the benefits of our procedure," Mr. Kaysen added.

Fiscal Second Quarter and First Half Results for the Period Ended September 30, 2010Net sales for the three months ended September 30, 2010 totaled $3.2 million, an increase of 9% over net sales of $3.0 million for the same quarter of the prior fiscal year.  Excluding the translation impact of foreign currency exchange rates, sales increased by approximately 13%. For the six months ended September 30, 2010, net sales were $6.3 million, 8% above net sales for the comparable period of 2009 of $5.8 million.  Excluding the impact of foreign exchange translation, sales grew by 12%.

Sales to customers in the U.S. for the three months ended September 30, 2010 were $1.8 million, a 23% increase compared to $1.5 million in net sales for the year-ago quarter.  During the first half of fiscal 2011, sales to customers in the U.S. totaled $3.5 million, representing a 17% increase over net sales of $3.0 million for the six month period of fiscal 2010.

Sales in the U.S. of the Urgent PC product for the three months ended September 30, 2010 increased 6% to $1.0 million compared with $960,000 for the same period last year.  This was at the high end of the recent range of quarterly sales between $900,000 and $1.0 million.  For th
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SOURCE Uroplasty, Inc.
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