Farmingdale, N.Y.-based Misonix reported its third quarter and nine months of fiscal year 2016 financial results, ending March 31, 2016, according to SYS-CON Media.
Here are eight highlights:
1. Global recurring revenue increased to $4 million in the third quarter, up from $3 million in the same period in fiscal 2015.
2. Recurring revenue for nine months ending March 31, 2016, increased to $11.4 million, up from $8.8 million for the same period in 2015.
3. In the third quarter of fiscal 2016, BoneScalpel revenue increased to $3.1 million, a 41 percent increase over the same period in 2015.
4. U.S. BoneScalpel revenue increased 60 percent to $2 million, up from $1.2 million during the 2015 fiscal third quarter.
5. The company sold or consigned 17 BoneScalpel systems in the third quarter fiscal 2016 compared to 30 systems in the same period of 2015.
6. SonicOne OR global revenue increased to $603,000, up 7 percent compared to the same period the year prior.
7. Third quarter fiscal 2016 revenue hit $5.4 million, up from $5.2 million in the same quarter fiscal 2015.
8. Misonix reported a net loss of $679,000 per diluted share for third quarter fiscal 2016.
"Our market research and better data metrics on our domestic markets enable us to identify the hospital targets that generate the highest frequency of orthopedic procedures that would benefit from our products and technology," said Michael A. McManus, Jr., president and CEO, Misonix.