Uroplasty, Inc. Reports Record Fiscal Second Quarter Revenue
MINNEAPOLIS, Oct. 23, 2014 /PRNewswire/ -- Uroplasty, Inc. (NASDAQ: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today reported financial results for the fiscal 2015 second quarter ended September 30, 2014.
Global revenue for the Company's Urgent® PC Neuromodulation System grew 17.5% to $4.3 million, a new quarterly revenue record, as compared to $3.6 million in the second quarter of the prior year. Total revenue for the fiscal second quarter of 2015 was $6.5 million, also a new quarterly record and up 8% from the same quarter in the prior year.
"Second quarter results for Urgent PC clearly demonstrate the growing recognition by physicians of the value provided by the only non-drug, non-surgical treatment option for refractory OAB patients," said Rob Kill, President and Chief Executive Officer of Uroplasty. "We remain focused on continued sales execution for both Urgent PC and Macroplastique and reiterate our fiscal 2015 annual guidance," added Mr. Kill.
The Company achieved a gross margin record of 88.3% in the recent fiscal second quarter, higher than the 87.6% gross margin in the same quarter one year ago. Operating expenses for the period totaled $6.8 million compared to $7.2 million in the same quarter last year.
The operating loss of $1.1 million in the fiscal second quarter compares with a $1.9 million operating loss in the same quarter last year.
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