Misonix narrows Q4 loss
Misonix, Inc. (Nasdaq: MSON), a maker of ultrasonic medical devices, reported before the closing that fourth-quarter sales increased 21% to $11.6 million, from $9.6 million a year earlier. The Farmingdale, N.Y.-based firm’s net loss during the three months ended June 30 was $0.3 million, or $0.04 per share, down about 73% from a loss of $1.1 million, or $0.16 a share, in the year-ago quarter.
Misonix’ fourth-quarter operating expenses decreased to $4.9 million, from $5.7 million a year earlier.
“We successfully implemented initiatives focused on our five strategic initiatives outlined at the beginning of the year,” CEO Michael A. McManus, Jr. said in a statement. “These goals are intended to set the stage for long-term growth from the sale of a new generation of unique ultrasonic medical devices.”
In late afternoon trading, MSON shares are up 3.29%, or $0.16, at $5.02. Over the last 52 weeks, shares have ranged from $3.25 to $7.49.
