NEW YORK (TheStreet) -- Uroplasty (UPI) soared to a two-year high of $5.40 on Friday after the company reported its third-quarter results.
The company reported revenue of $6.4 million, up 14% from the same period one year earlier. Domestic sales of the company's Urgent PC Neuromodulation System grew 19% to $3.2 million, up from $2.7 million in the same quarter one year earlier. Domestic sales of Macroplastique grew 11% to $1.5 million, while net sales outside of the U.S. grew 11% to $1.6 million.
"Successful execution of the sales strategies we implemented earlier this fiscal year drove our continued sequential and year-over-year improvement," said President and CEO Rob Kill in a company statement. "We are encouraged with the growth results generated to date for U.S. Urgent PC sales and expect recent trends to continue during the fourth quarter. Our sales force is gaining momentum following our investment in ongoing training during the third quarter and, as a result, we are forecasting 25-30% year-over-year revenue growth for Urgent PC in the U.S. for the fourth quarter of fiscal 2014."
The stock had a volume of nearly 2 million just before the close of the trading day, well above its average of 45,808.
Separately, TheStreet Ratings team rates UROPLASTY INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate UROPLASTY INC (UPI) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow and feeble growth in its earnings per share."