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Misonix Reports Third Quarter and Nine Months Fiscal 2011 Financial Results

Wednesday, May 11, 2011 General News J E 4
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MISONIX, INC. And Subsidiaries

Consolidated Statements of Operations

Unaudited

      Three Months Ended

      Nine Months Ended

March 31,

March 31,

2011

2010

2011

2010

Net sales

$3,593,154

$3,313,131

$10,274,831

$9,092,322

Cost of goods sold

1,720,037

1,596,264

4,877,847

4,860,539

Gross profit

1,873,117

1,716,867

5,396,984

4,231,783

Selling expenses

1,079,267

671,213

3,098,967

2,649,699

General and administrative expenses

1,007,051

1,021,476

3,334,338

3,824,640

Research and development expenses

414,342

441,093

1,303,121

1,387,133

Total operating expenses

2,500,660

2,133,782

7,736,426

7,861,472

Operating loss from continuing operations

(627543.00)

(416915.00)

(2339442.00)

(3629689.00)

Total other income

231,421

832,683

577,693

1,050,217

(Loss) income from continuing operations before  income taxes

(396,122)

415,768

(1,761,749)

(2,579,472)

Income tax (benefit)

4,000

206,242

46,100

(976,435)

Net (loss) income from continuing operations

(400,122)

209,526

(1,807,849)

(1,603,037)

Discontinued operations:

Net (loss) income from discontinued operations, net of income tax expense of $0,($111,763), $0 and $358,634

(131,356)

(258,850)

(277,641)

506,367

Net loss from sale of discontinued operations, net of income tax expense of $0, $0, $0 and $957,937

-

(257,029)

-

(369,848)

Noncontrolling interest in discontinued operations net of income taxes

-

24,861

-

66,201

Net (loss) income from discontinued operations

(131,356)

(491,018)

(277,641)

202,720

Net loss attributable to Misonix, Inc. shareholders

($531,478)

($281,492)

($2,085,490)

($1,400,317)

Net (loss) income per share from continuing operations attributable to Misonix, Inc. shareholders-Basic

($0.06)

$0.03

($0.26)

($0.23)

Net (loss) income per share from discontinued operations-Basic

(0.02)

(0.07)

(0.04)

0.03

Net loss per share attributable to Misonix, Inc. shareholders-Basic

($0.08)

($0.04)

($0.30)

($0.20)

Net (loss) income per share from continuing operations attributable to Misonix, Inc. shareholders-Diluted

($0.06)

$0.03

($0.26)

($0.23)

Net (loss) income per share from discontinued operations-Diluted

(0.02)

(0.07)

(0.04)

0.03

Net loss per share attributable to Misonix, Inc. shareholders-Diluted

($0.08)

($0.04)

($0.30)

($0.20)

Weighted average common shares-basic

7,001,369

7,001,369

7,001,369

7,001,369

Weighted average common shares-diluted

7,001,369

7,038,385

7,001,369

7,001,369

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