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

year.  Selling, general and administrative costs increased $0.7 million primarily due to full staffing of the sales team in the current quarter as well as the expense related to the six clinical specialists the Company added throughout the prior fiscal year.  R&D costs increased $0.4 million due to higher clinical study activity as well as certain one-time costs related to management changes in the current quarter.

The operating loss of $2.2 million in the fiscal first quarter compares with a $1.6 million operating loss in the same quarter last year.  Excluding non-cash charges for share-based compensation and depreciation and amortization expense, the non-GAAP operating loss was $1.8 million in the first quarter of fiscal 2015, compared with a $1.5 million non-GAAP operating loss in the year ago period. At June 30, 2014, cash, cash equivalents and cash investments totaled $10.6 million.

For the full-year Fiscal 2015 the Company continues to expect revenue growth in the range of nine to twelve percent, approximately fifteen percent growth in global Urgent PC sales, and slightly higher gross margins on a year-over-year basis.

Conference Call
Uroplasty will host a conference call and webcast today at 4:30 p.m. Eastern Time (3:30 p.m. Central Time) to discuss these results. Rob Kill, President and Chief Executive Officer, and Brett Reynolds, Chief Financial Officer, will host the call. Individuals wishing to participate in the conference call should dial 888-505-4375. No passcode is necessary.  To access a live webcast of the call, go to Uroplasty's website at www.uroplasty.com and click on the Investor Relations section.

An audio replay will be available for 30 days following the call at 888-203-1112 with the passcode 7876225.  An archived webcast will also be available at investor.uroplasty.com.

About Uroplasty, Inc.
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SOURCE Uroplasty, Inc.
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