Growth in medical device product sales helped ultrasound technology developer Misonix add to revenues in its 2011 fiscal year (end-June 30), but not enough to avoid a deeper net loss.
For fiscal 2011, net sales advanced 8% to $14.4 million, compared with $13.3 million in fiscal 2010. Misonix also reported a net loss for the fiscal year of $3.5 million, which includes a loss from discontinued operations of $1.1 million, compared with a net loss of $2.9 million, including a loss from discontinued operations of $671,000, in fiscal 2010.
In the fourth fiscal quarter, net sales dipped 2% to $4.1 million, compared with $4.3 million in the same quarter of 2010. The company reported a net loss of $1.4 million, including a loss of $841,000 from discontinued operations, in the fourth fiscal quarter, compared with a net loss of $1.5 million, including a loss of $874,000 from discontinued operations, in the same quarter of fiscal 2010.
