Full Year Fiscal 2012 ResultsFor the full year ended March 31, 2012, global sales grew 49% to $20.6 million, compared with $13.8 million in fiscal 2011. The increase reflected a 75% increase in U.S. sales to $13.9 million and a 14% increase in sales outside the U.S. to $6.7 million. In the U.S., Urgent PC sales grew 84% to $7.8 million compared with $4.3 million in fiscal 2011. Macroplastique sales were up 69% to $5.9 million. Adjusted for the fluctuations in foreign currency exchange rates, total sales grew 47% and sales outside the U.S. increased 10%.
Cash, cash equivalents and cash investments totaled $16.3 million at March 31, 2012, compared with $16.7 million at the end of December. The Company used $3.1 million of cash for operating activities in fiscal 2012.
"We made good progress in fiscal 2012. In the U.S., with the exit of a competitor from the bulking market, we gained a significant market share with Macroplastique. We have established Urgent PC, recognized for its efficacy and safety, as a viable treatment for the symptoms of OAB. We have strengthened our sales and marketing approach with existing customers, providing them with additional support to help them build their PTNS practices and we continue to bring in new physician accounts based on solid clinical evidence of Urgent PC's benefits to patients," concluded Mr. Kaysen.
Conference CallUroplasty will host an audio conference call today at 3:30 pm Central, 4:30 pm Eastern, to review the financial results for the fiscal fourth quarter and full year ended March 31, 2012. David Kaysen, President and Chief Executive Officer, and Medi Jiwani, Vice President, Chief Financial Officer and Treasurer, will ho
|SOURCE Uroplasty, Inc.|
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