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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV