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Uroplasty Reports Fiscal Fourth Quarter And Full Year 2012 Financial Results
Date:5/24/2012

streamlined Medicare reimbursement policy in Florida that became effective February 1st.  We were also pleased with the growth in the number of active customers during the quarter and we anticipate continued momentum in fiscal 2013."

"In addition, we had a positive development on reimbursement recently," Mr. Kaysen continued.  "Novitas Solutions (formerly Highmark Medicare Services) published its decision to provide coverage for percutaneous tibial nerve stimulation (PTNS) treatments retroactive to April 9, 2012, and physicians in its network have been able to file claims for treatments using Urgent PC.  Novitas Solutions is the Medicare Administrative Contractor for Delaware, Maryland, New Jersey, Pennsylvania and the District of Columbia and provides benefits to approximately 4.6 million Medicare beneficiaries.  PTNS treatments are now covered by 11 of the 13 regional Medicare carriers.

Fourth Quarter Fiscal 2012 ResultsUrgent PC sales in the U.S. were $2.3 million in the quarter ended March 31, 2012, compared with $1.3 million in the same quarter last year, an increase of 79%.  Macroplastique sales in the U.S. totaled $1.6 million in the recent fourth quarter compared to $1.0 million in the same quarter last year.  Growth of Macroplastique sales was due to market share gain achieved when a competitor exited the market.

Net sales to customers outside of the U.S. for the fiscal fourth quarter were $1.6 million, an increase of 4% from the prior fiscal year's fourth quarter.  Excluding the impact of fluctuations in foreign currency exchange rates, sales outside the U.S. grew 8%.

The Company reported an operating loss of $589,000 in the fiscal fourth quarter, compared with a $1.3 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 $122,000 in the fourth quarte
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SOURCE Uroplasty, Inc.
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1. Uroplasty Highlights Clinical Results From a Study of the Urgent(R) PC Neuromodulation System
2. Uroplasty Enrolls First Patients in Urgent(R) PC Clinical Trial
3. Uroplasty Highlights Results From Clinical Study on Macroplastique(R) for the Treatment of Stress Urinary Incontinence
4. Uroplasty to Issue Second Fiscal Quarter Results on November 2, 2009
5. Uroplasty Reports Results for Second Quarter FY2010
6. Uroplasty to Present at Global Hunter Securities Inaugural Healthcare Conference
7. Coverage Initiated by Two Regional Medicare Carriers for Posterior Tibial Nerve Stimulation (PTNS) Delivered Via Uroplastys Urgent® PC Neuromodulation System
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10. Uroplasty Reports Financial Results for the Second Quarter FY2011
11. Uroplasty Inc. Announces CPT® Category I Code and Associated Reimbursement Value for Posterior Tibial Nerve Stimulation
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