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Exhibit 99.1
Misonix Contact:
|
Investor Relations Contact: | |
Richard Zaremba
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Kevin McGrath, Cameron Associates, Inc. | |
631-694-9555
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212-245-4577 | |
invest@misonix.com
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Kevin@cameronassoc.com |
Misonix Reports Third Quarter and Nine Months Fiscal 2011 Financial Results
FARMINGDALE, NY — May 10 , 2011 — Misonix, Inc. (NASDAQ: MSON), a medical device company
that designs, manufactures and markets innovative therapeutic ultrasonic products worldwide for
wound debridement, cosmetic surgery, neurosurgery, laparoscopic surgery, and other surgical and
medical applications, today reported financial results for the third fiscal quarter and nine months
ending March 31, 2011. Michael A. McManus Jr., President and Chief Executive Officer, and Richard
Zaremba, Senior Vice President and Chief Financial Officer, will host a conference call Tuesday,
May 10, 2011 at 11:30 am to discuss the Company’s third quarter and nine month results.
The Company also reported the following financial and operational achievements:
| • | 8.5% and 13% increase in revenue for the three and nine months ending March 31, 2011,
respectively, compared with the same period ending March 31, 2010. |
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| • | Medical device products revenue increased 20% and 21% for the three and nine months
ending March 31, 2011, respectively, compared with the same period ending March 31, 2010. |
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| • | Gross profit as a percentage of revenue was 52.1% and 52.6% for the three and nine
months ending March 31, 2011, respectively. |
Revenue for the three months ended March 31, 2011 was $3.6 million, an 8.5% increase when compared
with $3.3 million for the same period in fiscal 2010. Medical device products sales increased
$518,000 or 19.7% to $3.2 million and laboratory and scientific product sales decreased $238,000 to
$440,000 for the three months ended March 31, 2011. The increase in medical device products sales
was primarily attributable to sales of the Company’s AutoSonix™, Wound Debrider and Neuroaspirator
products.
Gross profit as a percentage of sales (gross profit percentage) was 52.1% for the three months
ended March 31, 2011 compared to 51.8% for the three months ended March 31, 2010. Gross profit
percentage for medical device products sales was 55.7% for the three months ended March 31, 2011
compared to 57.7% for the three months ended March 31, 2010. Gross profit percentage for medical
device products sales was unfavorably impacted in the three months ended March 31, 2011 by the sale
of the higher cost Neuroaspirator products purchased from Aesculap, Inc. in October 2010. Gross
profit for laboratory and scientific product sales decreased to 26.5% for the three months ended
March 31, 2011 from 29.1% for the three months ended March 31, 2010 primarily due to reduced sales
volume.
1
The following information was filed by Misonix Inc (MSON) on Tuesday, May 10, 2011 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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Material Contracts, Statements, Certifications & more
Misonix Inc provided additional information to their SEC Filing as exhibits
SEC Filing Exhibit
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Ticker: MSON
CIK: 880432
Form Type: 10-K Annual Report
Accession Number: 0001144204-11-053892
Submitted to the SEC: Tue Sep 20 2011 3:14:53 PM EST
Accepted by the SEC: Tue Sep 20 2011
Period: Thursday, June 30, 2011
Industry: Laboratory Apparatus And Furniture
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