MINNEAPOLIS--(BUSINESS WIRE)--Urologix®, Inc. (NASDAQ:ULGX), today reported financial results for the fiscal 2008 third quarter ended March 31, 2008. Revenue for the third quarter of fiscal 2008 was $3.1 million or 39 percent less than the $5.1 million reported in the same period of fiscal 2007 and 19 percent less than $3.8 million reported in the second quarter of this fiscal year. Net loss for the third quarter of fiscal 2008 was $2.1 million, or a loss of $0.15 per diluted share, compared to a net loss of $777,000 or a loss of $0.05 per diluted share, in the third quarter of fiscal 2007. For the nine months ended March 31, 2008, revenue was $11.2 million compared to $16.5 million for the nine months of the prior year period. The net loss for the nine months ended March 31, 2008 was $12.7 million, or $0.88 per diluted share, compared to a net loss of $1.2 million, or $0.08 per diluted share, for the nine months ended March 31, 2007. The net loss for the nine months ended March 31, 2008 includes a net non-cash impairment charge of $8.6 million, or $0.60 per diluted share, taken in the quarter ended December 31, 2007. At March 31, 2008, the Company’s cash balance was $11.7 million, a decrease of $412,000 from the prior quarter.
