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

ibution from the proceeds of a recently completed public offering of common shares.  In July 2010, the company issued 4.6 million shares at $3.50 per share, for net proceeds of approximately $14.9 million.  The company plans to use the proceeds to expand the U.S. sales and marketing organizations to support the Urgent PC business, and for clinical studies, working capital and general corporate purposes.  Following completion of the public offering, the company has 20.5 million common shares outstanding.

"With the additional capital raised through the offering, we have the funds necessary to execute our plan to drive sales growth and move toward profitability," continued Mr. Kaysen.  "While we are managing this cash very carefully, over the next couple of quarters, we expect to increase our investments in building our marketing and sales effort in support of our relaunch of Urgent PC.  In addition, we intend to explore the emerging opportunity in the U.S. to treat fecal incontinence using the Urgent PC, which has already received a CE Mark for treatment of fecal incontinence in Europe.  With the opportunities ahead for Urgent PC and the momentum in Macroplastique sales supported by a strong balance sheet, we are excited about the outlook for the company."

Conference CallUroplasty will host an audio conference call today at 3:30 pm Central, 4:30 pm Eastern, to review the financial results for the second fiscal quarter ended September 30, 2010. David Kaysen, President and Chief Executive Officer and Medi Jiwani, Vice President, Chief Financial Officer and Treasurer will host the call. Individuals wishing to participate in the conference call should dial 877-941-6012. An audio replay will be available for 30 days following the call at 800-406-7325 (domestic) or 303-590-3030 (international), with the passcode 4374726#.

About Uroplasty, Inc.Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned s
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SOURCE Uroplasty, Inc.
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