Misonix adds to revenue in FY10

Sep 28, 2010

Growth among its medical device products powered ultrasound technology developer Misonix of Farmingdale, NY, to greater revenue in the company's fourth fiscal quarter and 2010 fiscal year (end-June 30).

Revenues from continuing operations in fiscal 2010 increased 5% to $13.4 million, compared with $12.7 million in fiscal 2009. Medical device sales increased 11% to $10.7 million in fiscal 2010. The company also reported a net loss from continuing operations for the fiscal year of $2.2 million, compared with a loss from continuing operations of $1.6 million in fiscal 2009.

Misonix's total net loss for fiscal 2010 was $2.9 million, which included a loss of $671,000 from discontinued operations due to the sale of its Labcaire, Sonora, and Focus Surgery high-intensity focused ultrasound business during the fiscal year. In fiscal 2009, the company reported net income of $2.1 million from discontinued operations.

Revenue from continuing operations in the fourth fiscal quarter increased 43% to $4.3 million, compared with $3 million in the fourth quarter of fiscal 2009. Medical device sales advanced 60% to $3.6 million in the fourth quarter. The growth was due primarily to an increase in BoneScalpel sales.

Misonix also reported a net loss from continuing operations of $588,000 in the fourth quarter, compared with a loss of $1.2 million the same quarter of fiscal 2009.

The company's total fourth-quarter net loss was $1.5 million. The net loss included a loss from discontinued operations of $874,000 related to the sale of Labcaire, Sonora, and Focus Surgery. In the fourth quarter of fiscal 2009, Misonix reported income from discontinued operations of $3.6 million, primarily from the sale of its Ultrasonic business in April 2009.

Misonix lands China distribution deal, August 12, 2010

Misonix sells rights to HIFU unit, May 31, 2010

Misonix enters Scandinavia distribution pact, February 4, 2010

Misonix inks Chile distribution deal, January 12, 2010