Exhibit 99.1
(MISONIX LOGO)
         
 
  Misonix Contact:   Investor Relations Contact:
 
  Richard Zaremba   Kevin McGrath / Cameron Associates, Inc.
 
  631-694-9555   212-245-4577
 
  invest@misonix.com   Kevin@cameronassoc.com
MISONIX REPORTS THIRD QUARTER FISCAL 2010 FINANCIAL RESULTS
FARMINGDALE, NY — May 12, 2010
— Misonix, Inc. (NASDAQ: MSON), a developer of minimally invasive ultrasonic medical device technology, which is used in Europe for the ablation of tumors and worldwide for acute health conditions, today reported financial results for the third fiscal quarter ending March 31, 2010. Michael A. McManus Jr., President and Chief Executive Officer, and Richard Zaremba, Senior VP and Chief Financial Officer, will host a conference call Wednesday, May 12, 2010 at 4:30 pm to discuss the Company’s third quarter and nine months results.
The Company also reported the following financial and operational achievements:
 
Net income from continuing operations of $17,000 for the third quarter fiscal 2010 compared to a loss of $223,000 for the third quarter fiscal 2009
 
 
A 30% increase in revenue for the third quarter fiscal 2010 compared with the third quarter fiscal 2009
 
 
Gross margin as a percentage of revenues increased to 54.7% in the third quarter fiscal 2010
Revenues for the three months ended March 31, 2010 were $3.5 million, a 30% increase when compared with $2.7 million for the same period in fiscal 2009. Medical device products sales increased $904,000 or 46% to $2.9 million and laboratory and scientific products sales decreased $99,000 to $678,000 for the three months ended December 31, 2009.
Gross profit as a percentage of sales increased to 54.7% for the three months ended March 31, 2010 from 45.4% for the three months ended March 31, 2009. The increase in gross profit percentage is primarily attributable to increased margins from the Company’s BoneScalpel™ product.
The Company reported a net income from continuing operations of $17,000 for the three months ended March 31, 2010 compared with a loss of $223,000 or $.03 per share for the same period in fiscal 2009. The Company reported a net loss attributable to Misonix, Inc. shareholders for the three months ended March 31, 2010 of $266,000 or $.04 per share which included a loss from discontinued operations of $257,000 or $.04 per share compared to net income attributable to Misonix, Inc. shareholders of $115,000 or $.02 per share which included income from discontinued operations of $334,000 or $.05 per share for the three months ended March 31, 2009.
Revenues for the nine months ended March 31, 2010 were $9.6 million, a decrease of $1.1 million when compared with $10.7 million for the same period in fiscal 2009. Medical device products sales decreased $779,000 to $7.7 million and laboratory and scientific products sales decreased $324,000 to $1.9 million for the nine months ended March 31, 2010.

 

 


The following information was filed by Misonix Inc (MSON) on Thursday, May 13, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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