NORTHVALE, N.J.--(BUSINESS WIRE)--Ivivi Technologies, Inc. (AMEX:II), a leader in non-invasive, electrotherapeutic technologies, today announced financial results for its fiscal first quarter ended June 30, 2007. For the fiscal first quarter ended June 30, 2007, total revenue grew 112% to $460,999 from $217,419 for the quarter ended June 30, 2006. Revenues were primarily driven by the sale of the Company’s products to distributors and into medical facilities, and through our direct sales force into rental programs in the wound care market. Unit sales increased to $286,400 in the quarter, up 1677% from $16,115 in the first quarter of fiscal 2007. Rental revenue was $158,974 in the first quarter of fiscal 2008 compared to rental revenue was $201,304 for the same period of fiscal 2007. The Company also recorded licensing fee revenue of $15,625 in the fiscal first quarter related to the initial milestone payment received from Allergan and amortized over the initial term of our agreement with Allergan. The Company had a net loss of $1,412,608, or $0.15 per share, for the fiscal first quarter compared to a net loss of $1,877,958, or $0.40 per share, for the year ago period, which included $853,666 of interest and finance costs that did not impact the current quarter.
