This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Urologix Reports Fiscal 2010 Fourth-Quarter And Year-End Results (Quarter And Year Ended June 30, 2010)

  • Fiscal 2010 revenue up 15.3 percent from prior year
  • Fiscal 2010 net loss reduced by 50.9 percent compared to prior year
  • Fourth-quarter net loss reduced by 28.9 percent compared to fourth quarter fiscal 2009

MINNEAPOLIS, Aug. 24, 2010 (GLOBE NEWSWIRE) -- Urologix®, Inc. (Nasdaq:ULGX), a medical device company that develops, manufactures and markets minimally invasive Cooled ThermoTherapy™ technology to urologists to provide a durable and effective in-office treatment for patients suffering from benign prostatic hyperplasia (BPH), today reported financial results for its fourth quarter ended June 30, 2010 and for fiscal year 2010.

For the Company's fiscal year 2010 fourth quarter, Urologix posted a net loss of $622,000, or $0.04 per diluted share, on revenue of $3.3 million. Compared to the prior-year fourth quarter, which had a net loss of $875,000 or $0.06 per diluted share, current-year loss was reduced by $253,000. The decrease in net loss as compared to the fourth quarter of fiscal 2009 is primarily due to a decrease in operating expense of $268,000.

Fiscal 2010 fourth-quarter revenue was down 9.3 percent from the $3.6 million reported in the third quarter of this fiscal year and decreased 5.4 percent compared to the same period in the prior year. The 2010 fourth quarter revenue decline compared to third quarter was impacted by two factors: (1) a temporary backorder for the Company's Prostaprobe® product that is utilized by third-party mobile services; and (2) physician uncertainty surrounding Medicare reimbursement due to the disruption of payments during a portion of April and June. The backorder issue has been resolved and Medicare reimbursement payments resumed in late June 2010.

The Company's cash utilization was $62,000 for the quarter ended June 30, 2010. This compares to a cash utilization of $603,000 in the fourth quarter of fiscal 2009, a reduction of $541,000. The Company's cash balance was $5.7 million as of June 30, 2010, which management considers sufficient to fund working capital and capital resource needs beyond fiscal year 2011.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ULGX $0.02 -3.11%
AAPL $117.84 -0.16%
FB $105.23 -0.17%
GOOG $750.93 0.37%
TSLA $230.21 0.25%


Chart of I:DJI
DOW 17,806.58 -6.81 -0.04%
S&P 500 2,089.02 +0.15 0.01%
NASDAQ 5,119.70 +3.5570 0.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs