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Uroplasty Reports Third Quarter of Fiscal 2012 Financial Results
Date:1/26/2012

tization expense, the non-GAAP operating loss was $570,000 in the fiscal third quarter, compared with $1.1 million in the year-ago quarter.  The decrease in non-GAAP operating loss is attributed to the increase in sales and gross profit percent, which more than offset the increase in spending, primarily in selling and marketing.

For the nine-month period ended December 31, 2011, sales grew 53% to $15.0 million, reflecting an 81% increase in U.S. sales and an 18% increase in sales outside the U.S.  In the U.S., Urgent PC sales grew 86% and Macroplastique sales increased 75%.  

The Company ended the quarter with cash, cash equivalents and cash investments of $16.7 million.

"We remain confident about the outlook for Urgent PC.  Doctors continue to report excellent results for their patients suffering from overactive bladder syndrome, and reimbursement at this stage of the product launch is working well.  To date, ten regional Medicare carriers representing 35 states, with approximately 31 million covered lives, have indicated they will provide coverage for PTNS treatments.  In addition, we estimate that private payers providing insurance to approximately 84 million lives have elected to provide coverage for PTNS treatments.  We believe that Urgent PC is one the most effective and safe solutions for the treatment of symptoms of overactive bladder, and we expect to return to sequential quarterly growth in Urgent PC sales," Mr. Kaysen concluded.

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 third quarter ended December 31, 2011. David Kaysen, President and Chief Executive Officer, and Medi Jiwani, Vice President, Chief Financial Officer and Treasurer, will host the call. Individuals wishing to participate in the conference call should dial 877-941-9205. An audio replay will be available for 30 days follow
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SOURCE Uroplasty, Inc.
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