MISONIX Inc. (MSON, Financial) filed Quarterly Report for the period ended 2011-09-30.
Misonix Inc. has a market cap of $13.7 million; its shares were traded at around $1.95 with and P/S ratio of 1.
Gross profit: Gross profit increased to 51.4% for the three months ended September 30, 2011 from 50.3% for the three months ended September 30, 2010. Gross profit for medical device products increased to 54.8% for the three months ended September 30, 2011 from 54.7% for the three months ended September 30, 2010. Gross profit for laboratory and scientific products increased to 30.2% for the three months ended September 30, 2011 from 29.1% for the three months ended September 30, 2010. The increase in gross profit percentage in the September 2011 period for laboratory and scientific products is due to lower fixed factory overhead costs.
Liquidity and Capital Resources We regularly review our cash funding requirements and attempt to meet those requirements through a combination of cash on hand, cash provided by operations and possible future public or private debt and/or equity offerings. At times, we evaluate possible acquisitions of, or investments in, businesses that are complementary to ours, which may require the use of cash. We believe that our cash, other liquid assets and access to equity capital markets, taken together, provide adequate resources to fund ongoing operating expenditures. In the event that they do not, we may require additional funds in the future to support our working capital requirements or for other purposes and may seek to raise such additional funds through the sale of public or private equity and/or debt financings, divestiture of current business lines as well as from other sources. No assurance can be given that additional financing will be available in the future or that if available, such financing will be obtainable on favorable terms when required. Working capital at September 30, 2011 and June 30, 2011 was $9,664,000 and $10,233,000, respectively. For the three months ended September 30, 2011, cash used in operations totaled $284,000 primarily due to an operating loss of $824,000 partially offset by depreciation and amortization of $175,000, stock based compensation of $82,000, higher accounts payables and other accrued liabilities of $42,000 and lower accounts receivables of $194,000. For the three months ended September 30, 2011, cash used in investing activities totaled $326,000 due to the combination of the acquisition of fixed assets and the purchase of assets from Aesculap, Inc. For the three months ended September 30, 2011, cash used in financing activities was $4,000. Off-Balance Sheet Arrangements The Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to the Company. Other In the opinion of management, inflation has not had a material effect on the operations of the Company. New Accounting Pronouncements We are required to adopt certain new accounting pronouncements. See note 12 to our consolidated financial statements included herein.
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Misonix Inc. has a market cap of $13.7 million; its shares were traded at around $1.95 with and P/S ratio of 1.
Highlight of Business Operations:
Net sales: Net sales of the Company's medical device products and laboratory and scientific products increased $481,168 to $3,739,156 for the three months ended September 30, 2011 from $3,257,988 for the three months ended September 30, 2010. The change in net sales is due to an increase in sales of medical device products of $524,931 to $3,217,199 for the three months ended September 30, 2011 from $2,692,268 for the three months ended September 30, 2010. The change in net sales is partially offset by a decrease in laboratory and scientific products sales of $43,763 to $521,957 for the three months ended September 30, 2011 from $565,720 for the three months ended September 30, 2010. The increase in therapeutic medical device products was primarily attributable to sales of the Company's Neuroaspirator products. The decrease in laboratory and scientific products sales is primarily due to lower forensic market sales due to the overall state and municipal economic environment.Gross profit: Gross profit increased to 51.4% for the three months ended September 30, 2011 from 50.3% for the three months ended September 30, 2010. Gross profit for medical device products increased to 54.8% for the three months ended September 30, 2011 from 54.7% for the three months ended September 30, 2010. Gross profit for laboratory and scientific products increased to 30.2% for the three months ended September 30, 2011 from 29.1% for the three months ended September 30, 2010. The increase in gross profit percentage in the September 2011 period for laboratory and scientific products is due to lower fixed factory overhead costs.
Liquidity and Capital Resources We regularly review our cash funding requirements and attempt to meet those requirements through a combination of cash on hand, cash provided by operations and possible future public or private debt and/or equity offerings. At times, we evaluate possible acquisitions of, or investments in, businesses that are complementary to ours, which may require the use of cash. We believe that our cash, other liquid assets and access to equity capital markets, taken together, provide adequate resources to fund ongoing operating expenditures. In the event that they do not, we may require additional funds in the future to support our working capital requirements or for other purposes and may seek to raise such additional funds through the sale of public or private equity and/or debt financings, divestiture of current business lines as well as from other sources. No assurance can be given that additional financing will be available in the future or that if available, such financing will be obtainable on favorable terms when required. Working capital at September 30, 2011 and June 30, 2011 was $9,664,000 and $10,233,000, respectively. For the three months ended September 30, 2011, cash used in operations totaled $284,000 primarily due to an operating loss of $824,000 partially offset by depreciation and amortization of $175,000, stock based compensation of $82,000, higher accounts payables and other accrued liabilities of $42,000 and lower accounts receivables of $194,000. For the three months ended September 30, 2011, cash used in investing activities totaled $326,000 due to the combination of the acquisition of fixed assets and the purchase of assets from Aesculap, Inc. For the three months ended September 30, 2011, cash used in financing activities was $4,000. Off-Balance Sheet Arrangements The Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to the Company. Other In the opinion of management, inflation has not had a material effect on the operations of the Company. New Accounting Pronouncements We are required to adopt certain new accounting pronouncements. See note 12 to our consolidated financial statements included herein.
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