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

e for PTNS under the new code has been confirmed by 10 of the 13 regional Medicare carriers and a growing number of large private payers.

"We have focused on expanding coverage from Medicare carriers and private payers for PTNS treatments, and today insurers covering approximately 115 million lives provide coverage for PTNS," continued Mr. Kaysen.  "In addition to expanding our customer base, our sales representatives are focused on increasing utilization by the many new customers we have added over the past several quarters."

Macroplastique sales also grew significantly during the fiscal second quarter. Macroplastique sales in the U.S. totaled $1.4 million in the recent second quarter compared to $791,000 during the same quarter last year.  Growth of Macroplastique sales was due to the Company's focus on generating sales with the exit of a former competitor from the bulking market.

"During the quarter, we made very good progress in growing sales and our share of the bulking market, particularly in the U.S.  We set another record for Macroplastique sales in the fiscal second quarter and currently are on a $5.5 million annual run rate, which we do not expect to change significantly in the coming quarters," Mr. Kaysen commented.

Net sales to customers outside of the U.S. for the fiscal second quarter ended September 30, 2011 totaled $1.5 million, an increase of 10% from $1.4 million in the same quarter last year.  Excluding the impact of foreign exchange translation, sales outside the U.S. increased by approximately 2%.

The Company reported an operating loss of $1.3 million in the fiscal second quarter, compared with $947,000 in the same quarter last year, primarily due to the investments made to expand the sales and marketing organization.  Excluding non-cash charges for share-based compensation and depreciation and amortization expense, the non-GAAP operating loss was $837,000 in the fiscal second quarter,
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SOURCE Uroplasty, Inc.
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