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Uroplasty Reports Fiscal First Quarter 2014 Financial Results
Date:8/1/2013

MINNEAPOLIS, Aug. 1, 2013 /PRNewswire/ -- Uroplasty, Inc. (NASDAQ: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today reported financial results for the fiscal 2014 first quarter ended June 30, 2013. 

Fiscal First Quarter 2014 Financial ResultsFiscal first quarter 2014 sales in the U.S. increased 6%, driven by a 10% increase in sales of the Urgent® PC Neuromodulation System, compared with fiscal first quarter a year ago.  U.S. Urgent PC Sales in the fiscal first quarter of 2014 were $2.8 million.  Global sales increased 5% to $5.8 million in the first quarter of fiscal 2014, compared with $5.6 million in the fiscal first quarter a year ago.

"Fiscal first quarter sales of Urgent PC grew 11% from the fourth quarter of fiscal 2013, despite the distractions we faced.  This was the first sequential quarterly growth we've achieved in three quarters and is a strong indication that the changes we have made in the sales organization are beginning to gain traction," said Rob Kill, President and Chief Executive Officer of Uroplasty. "As we look ahead into the new fiscal year, we are optimistic about the outlook.  We have innovative and effective product lines combined with favorable reimbursement that continues to improve.  The market is large and remains underpenetrated. With the resolution of our leadership and fiscal 2013 financial statements, we are fully focused on growing sales and driving to profitability as we seek to enhance value for our investors."

Net sales to customers outside the U.S. for the fiscal first quarter totaled $1.6 million, compared to $1.5 million in the fiscal first quarter last year.  Excluding the impact of fluctuations in foreign currency exchange
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SOURCE Uroplasty, Inc.
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