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news.Urologix has reported that its revenue for the third quarter of fiscal 2008 was $3.1 million or 39% less than the $5.1 million reported in the same period of fiscal 2007 and 19% less than $3.8 million reported in the second quarter of fiscal 2008.
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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 ended March 31, 2007. 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.
Gross profit for the third quarter of fiscal 2008 was $1.4 million, or 46% of revenue, compared to 53% of revenue in the third quarter of fiscal 2007, and 49% of revenue in the second quarter of fiscal 2008 .
Mitchell Dann, chairman and Interim CEO Urologix, said: “We believe our business can be improved by returning to a back-to-basics business strategy. As we implement this back-to-basics strategy and focus on execution, we believe this will lead to a return to revenue growth.”