Misonix Posts $8 Million Revenues For Q3 Fiscal 2009

Revenues for the nine months ended March 31, 2009 were $29.3 million, a $1.3 million decrease against revenues of $30.6 million for the nine months ended March 31, 2008. The decrease in revenues for the nine months ended March 31, 2009 was due to a $614,000 decrease in medical device product sales to $17.2 million and a decrease in laboratory and scientific product sales of $650,000 to $12.1 million. The decrease in sales of medical device products was primarily attributable to lower sales of the company’s Neuroaspirator product, Lysonix Ultrasonic Assisted Liposuction product, Lithotripsy product, OEM probe sales and API tank and Subsystem sales. The decrease in laboratory and scientific sales was primarily attributable to the strengthening of the U.S. Dollar against the English Pound during the nine months ended March 31, 2009 as compared to the three months ended March 31, 2008, reducing sales reported in U.S. Dollars by approximately $2.3 million.

The company recorded net income for the nine months ended March 31, 2009, of $629,000 or $0.09 diluted earnings per share compared with a net loss of $537,000 or $0.08 loss per share for the same period in fiscal 2008.

Commenting on Misonix’s financial and operating results, Michael A. McManus, president and chief executive officer, said, “Our third quarter results, particularly in our medical device business, were negatively impacted by the worldwide economic conditions which adversely affected the demand for capital equipment. Although the economic environment remains challenging we are encouraged by the performance and strength of our business model. Our focus for the remainder of the year is to build on our growing global distribution presence for our medical device products and deliver improved results.