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Misonix swings to profit
Misonix Inc., a Farmingdale maker of ultrasonic surgical equipment, said its financials for its fourth fiscal quarter and full year improved from losses to profitability.
The company said Tuesday net income for the three month period ended June 30 was $444,813 or six cents a share, compared to a net loss of $1.45 million, or 21 cents a share a year earlier.
Net earnings for the full fiscal year were $366,325, or five cents a share, compared to a net loss of $3.5 million, or 50 cents a share in its 2011 fiscal year.
Misonix said sales for the fourth quarter increased by 41 percent $5.3 million, compared to $3.8 million a year earlier. For the fiscal year, revenues increased 27 percent to $15.7 million, from $12.4 million.
The company said operating expenses for the fourth fiscal quarter increased six percent, mostly because of continued expansion of the company's in house sales force, commissions on expanded product sales and increased advertising and depreciation expense.