Now, I am pleased to report that we achieved a solid fourth quarter on both the top line and bottom line with record sales and positive net income as we were anticipating. Total sales reached $14.8 million, up 33% over the last year on a reported basis and up 32% on a constant currency basis. This growth was driven by in constant currency rates 43% growth in global direct sales including our acquisition of Laprolan and 15% growth on an organic basis excluding the Laprolan’s contribution. Global private label sales were down 1%.In terms of GAAP earnings, we reported net income of approximately $407,000 and on a non-GAAP basis excluding certain non-cash expenses we reported income of $822,000. Today’s performance is on track with our expectations. These results are gratifying and are evidence of the solid progress we are making for growing revenues and improving profitability on a sustainable basis. I am encouraged by our performance in fiscal 2011 and optimistic about the future.
Rochester Medical's CEO Discusses F4Q 2011 Results - Earnings Call Transcript
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