Urologix, Inc. reported unaudited earnings results for the third quarter and nine months ended March 31, 2014. Third quarter fiscal year 2014 revenue totaled $3.4 million, down 12% sequentially and down 18% compared to the third quarter of fiscal year 2013. The revenue declines sequentially and compared to the third quarter of fiscal year 2013 were due to lower volume of units sold in both product lines. The company reported a net loss of $1.7 million, or $0.08 per diluted share, compared to a net loss of $1.0 million, or $0.05 per diluted share, in the third quarter of fiscal year 2013. The increase in net loss in the third quarter of fiscal year 2014 was primarily due to the higher cost of goods related to the $739,000 non-cash charge associated with the write down of Prostiva capital equipment inventory. The company reported operating loss of $1,467,000, loss before income taxes of $1,646,000 against operating loss of $844,000, loss before income taxes of $988,000 a year ago.

For the nine months, the company reported sales of $10,941,000, operating loss of $3,522,000, loss before income taxes of $4,037,000, net loss of $4,083,000 or $0.19 per diluted share against sales of $12,405,000, operating loss of $2,640,000, loss before income taxes of $2,997,000, net loss of $3,045,000 or $0.15 per diluted share a year ago. Net cash used for operating activities was $1,439,000 against $550,000 a year ago. Purchases of property and equipment were $28,000 against $55,000 a year ago.