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Items under Sections 1 and
3 through 7 are not applicable and are therefore omitted.
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ITEM 2.02
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RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
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Urologix, Inc. (the
“Company”) hereby furnishes a press release, issued on January 12, 2015,
disclosing preliminary revenue results for quarter ended December 31, 2014 and
preliminary cash balances at December 31, 2014. The preliminary results for the
quarter are subject to the Company’s management and independent auditors’
customary quarterly review procedures.
The Company’s management may
discuss the preliminary results for the quarter ended December 31, 2014 as
disclosed in the press release furnished as Exhibit 99.1 in meetings with
prospective strategic partners, investors, shareholders and others taking place
around the J.P. Morgan 33rd Annual Healthcare Conference beginning on January
12, 2015.
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ITEM 9.01
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FINANCIAL STATEMENTS AND EXHIBITS.
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Exhibit No.
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Description
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99.1
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Press Release Issued by
Urologix, Inc. on January 12, 2015.
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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.
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UROLOGIX, INC.
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By:
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/s/ Gregory
J. Fluet
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Gregory J.
Fluet
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Chief Executive Officer
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Date:
January 12, 2015
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EXHIBIT 99.1
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January 12,
2015
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For
Immediate Release
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Urologix Reports
Preliminary Fiscal Year 2015 Second Quarter Revenue and Cash Results
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•
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Second quarter preliminary
revenue of $3.1M, up 2% sequentially
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MINNEAPOLIS
—January 12, 2015— Urologix®, Inc. (OTCQB:ULGX), the leading provider of in-office
procedures for the safe, durable and effective treatment of BPH,
announces preliminary revenue and cash balances for its second quarter of
fiscal year 2015 ended December 31, 2014.
Second quarter
of fiscal year 2015 revenue is expected to be approximately $3.1 million, up
approximately 2% sequentially from the first quarter of fiscal year 2015. The
second quarter revenue was down approximately 19% compared to the second
quarter of the prior fiscal year, which was the last full quarter of operations
before the Company restructured its sales and operations in the second half of fiscal
year 2014.
As of December
31, 2014, the Company’s preliminary total cash balance was approximately
$570,000, which includes $40,000 of restricted cash. The total cash balance is
an increase of approximately $25,000 from September 30, 2014.
“We are
pleased with our preliminary revenue and cash results for the second quarter.
We now have two quarters of post-restructuring operations behind us that
indicate we are on track with the primary objective of our plan to stabilize
revenue with our new distribution model and become operationally cash flow
positive,” stated Greg Fluet, CEO.
During the
quarter ended December 31, 2014 and subsequently since that date, Urologix did
not make any payments towards any of the amounts due and unpaid to Medtronic.. Regarding the amounts due and unpaid to
Medtronic, Urologix and Medtronic both share a sincere commitment to patients
and urologists. Urologix recognizes Medtronic’s continuing rights under the
agreements, and is working collaboratively with Medtronic and their observer on
the Company’s Board of Directors in an effort to build the business.
The preliminary unaudited results for the second quarter of fiscal year
2015 are subject to the Company’s management and independent auditors’
customary review procedures. The Company intends to issue a press release
reporting final results of operations for the quarter ending December 31, 2014
after the market close on February 5, 2015, with its conference call scheduled
for 4:00 p.m. CST that day.
Earnings Call Information
To listen to the call, please dial 1-866-515-2910 and enter the
Participant Passcode 37953871 at least 10 minutes prior to the call. A live
webcast of the call will be available through the investor relations section of
the Company’s website at www.urologix.com and available for replay
approximately two hours after the completion of the call.
About Urologix
Urologix, Inc., based in Minneapolis,
develops, manufactures, markets and distributes minimally invasive medical
products for the treatment of obstruction and symptoms due to Benign Prostatic
Hyperplasia (BPH). Urologix’ Cooled ThermoTherapy™ produces targeted microwave
energy combined with a unique cooling mechanism to protect healthy tissue and
enhance patient comfort. The Prostiva® RF Therapy System delivers radio
frequency energy directly into the prostate destroying prostate tissue,
reducing constriction of the urethra, and thereby relieving BPH symptoms. Both
of these therapies provide safe, effective and lasting relief of the
symptoms and obstruction due to BPH. Prostiva® is a registered trademark of
Medtronic, Inc., used under license. All other trademarks are the property of
Urologix.
If you’d like more information on this topic,
please contact Greg Fluet at (763) 475-1400 or investor-relations@urologix.com
or to learn more about Urologix and its products and services, visit their
website at www.urologix.com.
The Urologix, Inc. logo is available at www.urologix.com/clinicians/resourcelibrary. php.
Urologix Investor
Relations Contact
Greg Fluet
(763) 475-1400
investor-relations@urologix.com
Urologix Media
Contact
Susan
Overby
(763) 745-1540
SOverby@urologix.com
Forward Looking
Statements
This press
release contains forward-looking statements that are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. Any
statements contained in this press release that are not statements of
historical fact may be deemed to be forward-looking statements. Without
limiting the foregoing, words such as “may,” “will,” “expect,” “believe,”
“anticipate,” “estimate” or “continue” or comparable terminology are intended
to identify forward-looking statements. Such forward looking statements
include, for example, the effectiveness of the Company’s sales and marketing
strategies and the impact of the Company’s strategic restructurings, the Company’s estimates of second quarter of
fiscal year 2015 revenue and cash balance at December 31, 2014, which are
subject to review and potential adjustment, the Company’s future revenue
and operating performance, or about the development and marketing of products.
The statements made by the Company are based upon management’s current
expectations and are subject to certain risks and uncertainties that could
cause the actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties include market
conditions and other factors beyond the Company’s control and the risk factors
and other cautionary statements described in the Company’s Annual Report on
Form 10-K for the year ended June 30, 2014 and other documents filed with the
Securities and Exchange Commission.
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