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Uroplasty Reports Fiscal Second Quarter 2012 Financial Results
Date:10/27/2011

MINNEAPOLIS, Oct. 27, 2011 /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 second quarter of fiscal 2012 ended September 30, 2011.

Global sales increased 53% to $5.0 million in the fiscal second quarter of 2012, compared with $3.2 million in the fiscal second quarter last year.  The growth reflects continued strong sales in the U.S., up 86% in the fiscal second quarter compared with the prior year.  U.S. sales growth was driven by a 95% increase in sales of the Urgent PC Neuromodulation System and a 75% increase in sales of Macroplastique.

"This was a strong quarter for Uroplasty, reflecting growth in both Urgent PC Systems and Macroplastique products, demonstrating solid execution of our plans to drive sales," said David Kaysen, President and CEO of Uroplasty, Inc.  "The number of active U.S. Urgent PC customers during the fiscal second quarter increased over the fiscal first quarter by 108 to a record of 509.  We sold 2,579 lead set boxes in the U.S. during the quarter, an increase of 30% over the fiscal first quarter of 1,985. The strength in Macroplastique sales was the result of our focus on this product line to quickly capture share with the exit of a former competitor from the market."  

Urgent PC sales in the U.S. were $2.0 million in the quarter ended September 30, 2011, compared with $1.0 million in the same quarter last year.  The growth in Urgent PC sales is the result of the expanded sales and marketing efforts the Company has made subsequent to obtaining the new Category I CPT® code for posterior tibial nerve stimulation (PTNS) that became effective in January 2011, and the increased reimbursement coverage by insurance carriers. Reimbursement coverag
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SOURCE Uroplasty, Inc.
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