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Uroplasty sees 35% rise in Q4 net sales

Uroplasty has reported $4m in net sales for the fiscal fourth quarter ended 31 March 2011, an increase of 35% over net sales of $3m for the year-ago quarter.

Fiscal year 2011 net sales were $13.8m, a 16% increase over fiscal 2010 sales of $11.9m.

Operating loss for the fiscal fourth quarter was $1.3m, compared with $561,000 in the prior year quarter.

The fiscal 2011 operating loss was $4.7m, compared with $3.2m in fiscal 2010.

The increase in loss is largely due to higher expenses related to increased headcount in sales and support staff and higher marketing expense in the US.

The net loss for the fiscal fourth quarter was $1.3m, compared to a net loss of $577,000 in the year-ago quarter.

Fiscal year 2011 net loss was $4.6m versus $3.2m in fiscal 2010.

Uroplasty president and CEO David Kaysen said in addition to the success with Urgent PC, sales of Macroplastique in the US were also very strong in the quarter.

"We anticipate that this strength will continue in the short term because of expected discontinuation of a competing product," Kaysen said.

"We are also moving forward with our plan to explore the regulatory path in the US for Urgent PC to treat fecal incontinence."