Urologix, Inc. reported unaudited earnings results for the first quarter ended September 30, 2012. For the quarter, the company's revenue was $3,970,000 against $3,142,000 a year ago, up 26% year-over-year and down 12% sequentially. First quarter revenue declined approximately $530,000 or 12% sequentially due primarily to weaker sales in the company's direct channel and to a lesser extent in international channel. Net loss was $1,069,000 or $0.05 per basic and diluted per share compared to a net loss of $1,384,000 or $0.09 basic and diluted per share a year ago. The net loss was positively impacted by the gain of $154,000 due to the change in the fair value of the acquisition consideration. Sales were $3,970,000 against $3,142,000 a year ago. Operating loss was $926,000 against $1,323,000 a year ago. Loss before income taxes was $1,053,000 against $1,379,000 a year ago. Net cash used for operating activities was $414,000 against $1,080,000 a year ago. Purchase of property and equipment was $4,000 against $5,000 a year ago. Purchases of intellectual property were $5,000. The first quarter year over year increase in revenue was driven by the incremental contribution of Prostiva(R) Radio Frequency (RF) Therapy product revenue. The sequential decline in total company revenue was due to lower procedure kit sales volume in the company's direct channel, approximately half of which was driven by a decline in Prostiva product sales.

For fiscal 2013, the company revised its total revenue guidance to a range of $16 million to $17 million from the $17.5 million to $19 million.