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Uroplasty Reports Fiscal First Quarter Results
Date:7/24/2014

MINNEAPOLIS, July 24, 2014 /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 2015 first quarter ended June 30, 2014. 

Global revenue for the Company's Urgent® PC Neuromodulation System grew 19% to $4.1 million, as compared to $3.4 million in the first quarter of the prior year.  Total revenue for the fiscal first quarter of 2015 was $6.4 million, up 9% from the same quarter in the prior year. 

"First quarter results met our overall expectations, and we are reaffirming our full-year guidance today for Fiscal 2015," said Rob Kill, President and Chief Executive Officer of Uroplasty.  "Global Urgent PC revenue exceeded our expectations, with stronger than expected growth in our international business.  Macroplastique revenue was down slightly in the quarter, yet we continue to expect that for the full year, revenue from this product line will be similar to the past fiscal year.  Continued improvement in sales force productivity, the expansion of our clinical support team to twelve individuals from the current six and our development of additional distribution channels are expected to drive Urgent PC sales growth as we look forward.  At the same time, we continue to invest in our fecal incontinence clinical development program and are examining strategies to provide our sales organization with additional products that meet the unmet needs of our customer base," continued Mr. Kill. 

The Company generated a gross margin of 87.6% in the recent fiscal first quarter compared with 87.2% in the same quarter a year ago.  Operating expenses for the period totaled $7.8 million compared to $6.7 million in the same quarter last
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SOURCE Uroplasty, Inc.
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