-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, J/cte/B8e/b5rLJJ+d07KRCdaHOrs8eBQH3X42+PtSjMCYlGOM/cFljkqDIISy+7 cXg/KSlaU0VrjaePdWtqyw== 0001193125-03-066354.txt : 20031023 0001193125-03-066354.hdr.sgml : 20031023 20031023173028 ACCESSION NUMBER: 0001193125-03-066354 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031023 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031023 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UROLOGIX INC CENTRAL INDEX KEY: 0000882873 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 411697237 STATE OF INCORPORATION: MN FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-28414 FILM NUMBER: 03954835 BUSINESS ADDRESS: STREET 1: 14405 21ST AVE N CITY: MINNEAPOLIS STATE: MN ZIP: 55447 BUSINESS PHONE: 6124751400 MAIL ADDRESS: STREET 1: 14405 21ST AVENUE NORTH CITY: MINNEAPOLIS STATE: MN ZIP: 55447 8-K 1 d8k.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (date of earliest event reported): October 23, 2003 UROLOGIX, INC. -------------- (Exact name of Registrant as specified in its charter) Minnesota 0-28414 41-1697237 --------- ------- ---------- (State or other jurisdiction (Commission File (I.R.S. Employer of incorporation) Number) Identification No.) 14405 21st Avenue North Minneapolis, MN 55447 - ------------------ ----- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (763) 475-1400 Items 1-6 and 8-11 are not applicable and therefore omitted. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits The following is furnished as an exhibit to this Current Report: Exhibit No. Description of Exhibit - ----------- ---------------------- 99.1 Press release issued October 23, 2003. ITEM 12. DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION. On October 23, 2003, Urologix, Inc. issued a press release, furnished as Exhibit 99.1 to this Form 8-K, disclosing material non-public information regarding its results of operations for the quarter ended September 30, 2003. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. UROLOGIX, INC. By /s/ Fred B. Parks ---------------------- Fred B. Parks Chief Executive Officer Dated: October 23, 2003 EX-99.1 3 dex991.txt PRESS RELEASE ISSUED OCTOBER 23, 2003 Exhibit 99.1 FOR IMMEDIATE RELEASE - --------------------- Contacts: Urologix: Robert C. Ferris Fred B. Parks, Chairman and CEO GCI Group Todd E. Paulson, Vice President, Finance (212) 537-8025 (763) 475-1400 rferris@gcigroup.com UROLOGIX REPORTS FISCAL FIRST QUARTER 2004 FINANCIAL RESULTS MINNEAPOLIS -- October 23, 2003 -- Urologix, Inc. (NASDAQ:ULGX - news), today reported financial results for the fiscal first quarter ended September 30, 2003. Revenue for the first quarter of fiscal 2004 was $5.1 million, compared to revenue of $4.5 million in the first quarter of fiscal 2003. Sales of disposables accounted for 93% of revenue in the current quarter, compared to 88% of revenue in the same period of the prior fiscal year. Gross margins, as a percent of sales, were 61 percent compared to 66 percent in the same quarter a year ago. Net loss for the quarter was $ 490,000, or $0.04 per share, compared to a net loss of $1.7 million, or $0.13 per share, in the first quarter of fiscal 2003. The installed base of Cooled ThermoTherapy systems was approximately 390 units as of September 30, 2003. Fred B. Parks, Chairman and Chief Executive Officer of Urologix commented, "Our performance in the first quarter was consistent with our expectations. The restructuring actions implemented in the fourth quarter of fiscal 2003 have resulted in a significantly improved operating expense profile without impacting our ability to provide the premium product to the market." Mr. Parks continued, "In the second quarter we expect further improvement in our overall financial performance as we effectively manage operating expenses and focus on gross margin enhancement." Urologix will host a conference call with the financial community to discuss fiscal 2004 first quarter results and business outlook on Friday, October 24, at 10:00 a.m. Central Time. Those interested in listening to the call can log onto www.urologix.com. About Urologix - -------------- Urologix, Inc., based in Minneapolis, develops, manufactures and markets minimally invasive medical products for the treatment of urological disorders. The Company has developed and offers non-surgical, anesthesia-free, catheter-based treatments that use a proprietary cooled microwave technology for the treatment of benign prostatic hyperplasia (BPH), a condition that affects more than 23 million men worldwide. Urologix markets its products under the Targis(TM) and Prostatron(R) names. Both systems utilize Cooled ThermoTherapy(TM) -- targeted microwave energy combined with a unique cooling mechanism to protect healthy tissue and enhance patient comfort -- and provide safe, effective, lasting relief of the symptoms of BPH. Certain statements in this news release contain forward-looking information. Actual results may vary significantly from those anticipated in these forward-looking statements due to risks and uncertainties, including the rate of adoption of Cooled ThermoTherapy by the medical community; the ability of third-party suppliers to produce and supply products; the Company's ability to successfully defend its intellectual property against infringement and the cost and expense associated with that effort; the impact of competitive treatments, products and pricing; the development and effectiveness of the Company's sales organization and marketing efforts, developments in the reimbursement environment for the Company's products including the determination of reimbursement rates for Cooled ThermoTherapy (transurethral microwave thermotherapy), the valuation of intangible assets and other risks, including those set forth in the Company's reports filed with the Securities and Exchange Commission. UROLOGIX, INC. CONDENSED STATEMENTS OF OPERATIONS (Unaudited, in thousands, except per share data)
Three Months Ended September 30, ------- ------- 2003 2002 ------- ------- Sales $ 5,061 $ 4,464 Cost of goods sold 1,982 1,506 ------- ------- Gross profit 3,079 2,958 ------- ------- Costs and expenses: Selling, general and administrative 2,825 3,639 Research and development 584 974 Amortization of intangibles 166 166 ------- ------- Total costs and expenses 3,575 4,779 ------- ------- Operating loss (496) (1,821) Interest income, net 6 71 ------- ------- Net loss $ (490) $(1,750) ======= ======= Basic and diluted net loss per common share $ (0.04) $ (0.13) ======= ======= Basic and diluted weighted average number of common shares outstanding 13,965 13,910 ======= =======
Selected Balance Sheet Data (Unaudited, in thousands) September 30, June 30, 2003 2003 Cash and available for sale investments $3,872 $4,619 Accounts receivable 2,406 2,129 Inventory 2,682 2,893 Current assets 9,467 10,338 Total assets 34,590 35,862 Total liabilities 5,992 6,757 Shareholders' Equity 28,598 29,105 # # # -----END PRIVACY-ENHANCED MESSAGE-----