Misonix, Inc. Announces Fourth Quarter and

Fiscal Year End 2014 Financial Results

 

Fourth Quarter Net Revenues UP 48%;

BoneScalpelRevenue UP 65%; SonaStar® Revenue up 75%;

Fiscal Year Revenue Increased 15%;

Net Income of $1.4 million or $0.19 per Diluted Share

 

For Immediate Release

 

  Investor Relations Contacts:
Misonix Contact: Lytham Partners, LLC
Richard Zaremba Robert Blum, Joe Dorame, Joe Diaz
631-694-9555 602-889-9700
invest@misonix.com mson@lythampartners.com

 

FARMINGDALE, NY – September 10, 2014 — Misonix, Inc. (NASDAQ: MSON), an international surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products for spine surgery, skull based surgery, neurosurgery, wound debridement, cosmetic surgery, laparoscopic surgery and other surgical applications, today announced financial results for the fourth quarter and full year fiscal 2014 ended June 30, 2014.

 

Highlights for the fourth quarter and full year 2014 included:

·Net sales for the fourth quarter fiscal 2014 were $5.6 million, a 48% increase, compared to $3.8 million for the same period in fiscal 2013. For the full year, revenue increased 15% to $17.1 million versus $14.8 million in fiscal 2013. Net Income for the fiscal year ended June 30, 2014 totaled $1.4 million or $0.19 per diluted share.
·BoneScalpel revenue increased 65% to $2.5 million versus $1.5 million in the fourth quarter of fiscal 2013. For the full year, BoneScalpel revenue increased 21% to $7.7 million.
·BoneScalpel units sold or consigned worldwide in fourth quarter fiscal 2014 totaled 53 compared to 38 systems; an increase of 39%. For the full year, BoneScalpel units sold or consigned worldwide increased 38% to 190 versus 138 in the previous fiscal year.
·BoneScalpel revenue in the United States increased 70% to $1.0 million in the fourth quarter fiscal 2014 compared to $612,000 during fourth quarter fiscal 2013. There were 59 BoneScalpel units consigned in the United States in fiscal year 2014 compared to 14 systems consigned during fiscal 2013. Total BoneScalpel units installed in the U.S. are 273.
·BoneScalpel disposables units in the U.S. increased 20% to 17,453 from 14,548 units and totaled $2.8 million for the fiscal year 2014.
·SonaStar revenue increased 75% to $2.4 million versus $1.4 million in the fourth quarter of fiscal 2013. For the full year, SonaStar revenue increased 20% to $6.3 million.
·SonaStar units sold worldwide in fourth quarter fiscal 2014 totaled 38 compared to 20 systems, a 90% increase.
·SonicOne® OR systems consigned in the U.S. were 22 units for fiscal year 2014 compared to 9 systems during fiscal 2013. SonicOne disposable revenue increased 268% for fiscal year 2014 to $1.2 million. SonicOne revenue increased 20% for fiscal year 2014 to $2.2 million.
·Recurring revenue – comprised of BoneScalpel, SonaStar and SonicOne disposables sales - totaled $2.5 million, or 46% of total fourth quarter fiscal 2014 revenue.
·Recurring revenue - comprised of BoneScalpel, SonaStar and SonicOne disposable sales -totaled was $8.6 million or 51% of total full year fiscal 2014 revenue.

 


The following information was filed by Misonix Inc (MSON) on Thursday, September 11, 2014 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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