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

onciliations of each of our non-GAAP financial measures described above to the most directly comparable GAAP financial measures.

We use these non-GAAP financial measures, and in particular non-GAAP operating loss, for internal managerial purposes and incentive compensation for senior management because we believe such measures are one important indicator of the strength and the operating performance of our business.  Analysts and investors frequently ask us for this information.  We believe that they use these measures to evaluate the overall operating performance of companies in our industry, including as a means of comparing period-to-period results and as a means of evaluating our results with those of other companies.

Our non-GAAP operating loss during the three months ended September 30, 2010 and 2009 was approximately $591,000 and $475,000, respectively.  Our non-GAAP operating loss during the six months ended September 30, 2010 and 2009 was approximately $1.2 million and $1.4 million, respectively.Three Months EndedSeptember 30,Six Months EndedSeptember 30,2010 20092010 2009Gross ProfitGAAP gross profit

$2,650,354$2,451,401$5,175,157$4,725,360% of sales

82%82%82%81%Share-based compensation

4,1844,9038,66718,448Depreciation expense

15,76614,15031,46428,299Non-GAAP gross profit

2,670,3042,470,4545,215,2884,772,107Operating ExpensesGAAP operating expenses

3,597,4783,328,4957,047,7186,973,962Share-based compensation

68,241113,909140,024273,014Depreciation expense

57,07457,546114,662115,623Amortization expense

210,682211,503421,450423,316Non-GAAP operating expenses

3,261,4812,945,5376,371,5826,162,009Operating LossGAAP operating loss

(947,124)(877,094)(1,872,561)(2,248,602)Share-based compensation

72,425118,812148,692291,462Depreciation expense

72,84071,696146,126143,922Amortization expense

210,682211,503421,450423,316Non-GAAP operating lo
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SOURCE Uroplasty, Inc.
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