High-intensity focused ultrasound (HIFU) technology developer Misonix reported a strong growth in sales for its fiscal 2007 fourth quarter and year (end-June 30) as well as an aggressive reduction in net losses for both periods.
For the fourth quarter, the Farmingdale, N.Y.-based firm stated revenues of $11.6 million, a 20.3 percent increase from the $9.6 million booked in the same quarter last year. The company recorded a net loss for the period of $302,000, a sharp turnaround compared with a net loss of $1.1 million for the same period in the prior year.
For the fiscal year, Misonix reported revenues of $42.4 million, a 7.5 percent increase from revenues of $39.5 million for the 2006 fiscal year. The firm recorded a net loss for the year of $1.3 million, a nearly 200 percent decrease compared with a net loss of $3.8 million for fiscal 2006.