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Revenue increased 3 percent in the first quarter of fiscal year 2011 compared to the fourth quarter of fiscal year 2010
Net loss of $0.05 per diluted share consistent with first quarter of fiscal year 2010
MINNEAPOLIS, Nov. 3, 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 the first quarter of its fiscal year 2011 that ended September 30, 2010.
Fiscal 2011 first quarter revenue was $3.4 million, up 3 percent from the $3.3 million reported in the fourth quarter of fiscal year 2010 and down 13 percent compared to the $3.9 million reported for the same period of the prior year. The sequential revenue increase in the first quarter of fiscal year 2011 was due to an increase in Prostaprobe sales to our third party mobiles following a temporary backorder in the prior quarter. The revenue decline compared to the prior year quarter is primarily due to the fiscal year 2010 first quarter benefit of the temporary market withdrawal of a competitive product and the impact of changes in our sales force during the first quarter of fiscal year 2011.
For its fiscal year 2011 first quarter, Urologix posted a net loss of $708,000, or $0.05 per diluted share, on revenue of $3.4 million. This compares to a net loss of $677,000, or $0.05 per diluted share, in the prior-year first quarter and a net loss of $622,000, or $0.04 per diluted share, in the fourth quarter of fiscal year 2010. The fourth quarter of fiscal year 2010 included a tax benefit of $84,000 related to a net operating loss carry back claim that decreased the net loss in that period.