Urologix Reports Results For Fiscal Year 2011 Second Quarter
MINNEAPOLIS, Jan. 25, 2011 (GLOBE NEWSWIRE) -- Urologix®, Inc. (Nasdaq:ULGX), the manufacturer and marketer of minimally invasive Cooled ThermoTherapy™ (CTT), the durable and effective in-office treatment for patients suffering from benign prostatic hyperplasia (BPH), today reported financial results for the second quarter of its fiscal year 2011 that ended December 31, 2010.
Fiscal year 2011 second-quarter revenue was $3.3 million, down 1 percent from the $3.4 million reported in the first quarter of fiscal year 2011 and down 18 percent compared to the $4.1 million reported for the same period of the prior fiscal year. The sequential decrease in revenue was largely due to reduced order volume from our current customer base. There has been no material difference in the percentage of overall catheter revenue derived from our various sales channels (direct, mobile, third party mobile) compared with the first quarter of fiscal year 2011. On a year-over-year basis, the sales comparison is impacted by the temporary market withdrawal of a competitive product.
For its fiscal year 2011 second quarter, Urologix posted a net loss of $712,000, or $0.05 per diluted share, on revenue of $3.3 million. This compares to a net loss of $708,000, or $0.05 per diluted share, in the first quarter of fiscal year 2011 and a net loss of $273,000, or $0.02 per diluted share, in the second quarter of the prior fiscal year."We are pleased that Medicare has stabilized reimbursement for the next twelve months as we enter our third fiscal quarter and the beginning of a new calendar year," stated Stryker Warren jr, CEO. "With the improved clarity on reimbursement and a reportedly improving economy we must be able to leverage our sales force to drive growth. We are committed to succeeding this quarter in growing our revenue by continuing to present Urologix' Cooled ThermoTherapy to urologists as the early therapeutic choice to treat BPH patients versus chronic medication."
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