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Uroplasty Reports Fiscal Third Quarter 2013 Financial Results
Date:1/24/2013

quarter of 2013 totaled $2.7 million, up from $2.0 million in the fiscal 2012 third quarter.  Macroplastique sales in the U.S. totaled $1.4 million in the recent fiscal third quarter, a decrease of 12% over the same quarter last year, reflecting the emphasis of sales representatives on driving sales of Urgent PC.

Net sales to customers outside of the U.S. for the fiscal third quarter totaled $1.5 million, a decrease of 16% from the fiscal third quarter last year.  Excluding the impact of fluctuations in foreign currency exchange rates, total sales outside the U.S. were down 14%.  Urgent PC sales outside of the U.S. were $556,000 compared with $581,000 in the prior fiscal year's third quarter.

The Company reported a gross margin of 86.9% in the recent fiscal third quarter compared with 85.5% in the same quarter a year ago.  The operating loss of $677,000 in the fiscal third quarter compares with a $1.1 million operating loss in the same quarter last year. Excluding non-cash charges for share-based compensation and depreciation and amortization expense, the non-GAAP operating loss was $135,000 in the third quarter of fiscal 2013, compared with a $570,000 non-GAAP operating loss in the third quarter a year ago.  The decrease in operating loss was primarily attributable to the increase in sales, an improved gross margin, and a decrease in operating expenses.

Fiscal Nine Months 2013 Financial ResultsFor the nine-month period ended December 31, 2012, sales grew 13% to $16.9 million, reflecting a 25% increase in U.S. sales and an 11% decrease in sales outside the U.S.  In the U.S., sales of Urgent PC increased 45% to $8.0 million and Macroplastique sales increased 1% to $4.3 million.  At December 31, 2012, cash, cash equivalents and cash investments totaled $15.6 million

KP Select Purchase Agreement and Additional Expanded CoverageThe recently-completed purchase agreement with KP Select, Inc. for sales of Urge
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SOURCE Uroplasty, Inc.
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