Misonix reports revenue of $23.1M for FY 2016 — 6 highlights

Written by Megan Wood | February 10, 2017 | Print  |

Farmingdale, N.Y.-based Misonix reported its results for fiscal year 2016, ended June 30, 2016.

Here are six report highlights:

 

1. Misonix's net sales totaled $23.1 million in FY 2016, reflecting a 4.2 percent increase over FY 2015.

 

2. The company experienced a net loss of $1.2 million in FY 2016.

 

3. On Jan. 31, 2017, the company's cash balance totaled $12 million.

 

4. Misonix concluded a voluntary internal investigation, with the help of outside legal counsel, looking into the practice of an independent Chinese entity that distributed the company's products in China. The investigation also looked into Misonix's awareness of these business practices, which could fall under the Foreign Corrupt Practices Act.

 

5. Based on the internal investigation, Misonix reported its previously stated financial reports are correct.

 

6. Although the internal investigation is complete, Misonix told the U.S. Securities and Exchange Commission and Department of Justice that the government is still conducting its own investigation into the matter.

 

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