Misonix, Inc. (NASDAQ:MSON) Q4 2020 Earnings Conference Call - Final Transcript

Sep 03, 2020 • 04:30 pm ET


Misonix, Inc. (NASDAQ:MSON) Q4 2020 Earnings Conference Call - Final Transcript


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Good day, and welcome to the Misonix's Fourth Quarter Fiscal Year 2020 Earnings Call. [Operator Instructions].

At this time, I'd like to turn the conference over to Norberto Aja, Investor Relations. Please go ahead.

Norberto Aja

Thank you, operator, and good afternoon, everyone. Thank you for joining the Misonix fiscal 2020 fourth quarter conference call. We'll get started in just a minute with management's comments. But before doing so, let me take a minute to read the Safe Harbor language.

Today's call and webcast contain forward-looking statements within the meaning of the Safe Harbor provision of the US Private Securities Litigation Reform Act of 1995 and can be identified by words such as anticipate, believe, estimate, expect, future, likely, may, should, will, and other similar references to future periods. Examples of forward-looking statements include statements regarding guidance and relating to our financial results.

Forward-looking statements are neither historical facts nor assurance of future performance, because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances. Therefore, you should not only rely -- you should not rely on any of these forward-looking statements. And the company undertakes no obligation to publicly update any forward-looking statements that may be made from time to time, whether as a result of new information, future developments, or otherwise.

Today's call and webcast will include non-GAAP financial measures within the meaning of the SEC Regulation G. When required, a reconciliation of all non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP can be found in today's press release as well as in the company's website.

With that, I'd now like to turn the call over to Mr. Stavros Vizirgianakis, President and CEO of Misonix. Please go ahead.

Stavros George Vizirgianakis

Thank you, Norberto, and good afternoon, everyone. Thank you for joining us on the call today to review our fiscal 2020 fourth quarter and full year results. Joining me on the call is Joe Dwyer, our Chief Financial Officer.

Before commenting on our recent performance, I wanted to take this opportunity to thank our employees for their resilient dedication and exceptional work as they have gone up and beyond to ensure that Misonix continues to operate effectively and providing the highest level of customer service and support to healthcare practitioners and patients under the most challenging circumstances since March of this year.

Taking a quick look at our financial results on a pro forma basis accounting for the Solsys acquisition, total revenue for fiscal fourth quarter 2020 decreased 21.6% while full fiscal 2020 pro forma revenue increased 8.6%. Both led to a net loss for the fourth quarter 2020 of $8.5 million or a loss of $0.50 per diluted share and a net loss of $17.4 million for fiscal 2020 or a loss of $1.19 per diluted share.

Despite the significant headwinds during the second half of our fiscal year and many difficult decisions we've had to make, we are pleased with our ability to react quickly