NORTHVALE, N.J.--(BUSINESS WIRE)--Ivivi Technologies, Inc. (AMEX:II), a leader in non-invasive, electrotherapeutic technologies, today announced financial results for fiscal year ended March 31, 2007. For the fiscal year ended March 31, 2007, Ivivi Technologies reported total revenue of $1,182,340, a 50% increase from $786,512 reported for the fiscal year ended March 31, 2006. Revenues were primarily driven by rental programs in the wound care market and the sale of our products through distributors into medical facilities. Unit sales increased to $416,292 from $147,949 in fiscal 2006 while rentals increased to $740,006 from $638,563. The Company also recorded licensing fee revenue of $26,042 in fiscal 2007 related to milestone payments received from Allergan and amortized over the initial term of our agreement with Allergan. The Company had a net loss of $7,778,611, or $1.13 per share, for fiscal 2007 compared to a net loss of $10,746,671, or $2.26 per share, for fiscal 2006. The fiscal 2007 net loss reflects share based compensation expenses of approximately $2.1 million. In fiscal 2006, the net loss was impacted by a $4.7 million charge for the change in fair value of warrant and registration rights liabilities related to securities issued in the Company’s private placements.
