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FOR IMMEDIATE RELEASE
|Stryker Warren, Jr., CEO|
UROLOGIX REPORTS FISCAL 2009 RESULTS INCLUDING SEQUENTIAL
GROWTH IN FOURTH QUARTER FISCAL YEAR 2009 REVENUE
Increased Revenue by 4% Compared to Third Quarter Fiscal 2009
Reduced Net Loss by 27% Compared to Third Quarter Fiscal 2009
Reduced Operating Expenses by 5% Compared to Third Quarter Fiscal 2009
MINNEAPOLIS August 25, 2009 Urologix®, Inc. (NASDAQ:ULGX), a medical device company focused on developing, manufacturing and marketing Cooled ThermoTherapy systems, a durable and effective catheter based in-office alternative to drugs or surgery for patients suffering from benign prostatic hyperplasia (BPH), today reported financial results for the fourth quarter ended June 30, 2009 and for fiscal year 2009.
2009 Fourth Quarter Financial Results
Revenue for the fourth quarter was $3.4 million, or 4 percent more than the $3.3 million reported in the third quarter of this fiscal year; however, it was 6 percent less than the $3.7 million reported in the same period of fiscal 2008.
Net loss for the fourth quarter was $876,000, or a loss of $0.06 per diluted share. This compares to a net loss of $1.2 million or $0.08 per diluted share in the third quarter of fiscal 2009, and a loss of $2.2 million or $0.16 per diluted share for the fourth quarter of fiscal 2008.
Cash utilization for the quarter ended June 30, 2009 was $603,000, a 33 percent reduction from the cash utilization of the prior fiscal quarter and an 11 percent reduction from the cash utilization in the fourth quarter of fiscal 2008. The Companys cash balance was $7.0 million as of June 30, 2009, which management considers sufficient to fund working capital and capital resource needs beyond fiscal year 2010.
We believe the fourth quarter results continue to demonstrate the early returns from a stable and maturing sales force, improved operational efficiencies and management of departmental expenses. In the fourth quarter of fiscal year 2009, we left the American Urological Association (AUA) 2009 Annual Meeting having introduced the complete CTC Advance® catheter family, robust five year data dramatizing durable clinical outcomes, and the first data supporting the ability to customize our high energy, Cooled ThermoTherapy treatment for patient
The following information was filed by Urologix Inc (ULGX) on Thursday, August 27, 2009 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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