Urologix, Inc. reported unaudited earnings results for the fourth quarter and year ended June 30, 2014. For the quarter, the company reported sales of $3.294 million compared to $4.184 million a year ago. Operating loss was $3.408 million compared to $1.282 million a year ago. Loss before income taxes was $3.587 million compared to $1.281 million a year ago. Net loss was $3.525 million or $0.17 per basic and diluted share compared to $1.247 million or $0.06 per basic and diluted share a year ago. The sequential decrease in revenue was driven primarily by reduced sales of Cooled ThermoTherapy(TM) (CTT) products partially offset by a slight increase in Prostiva(R) products. The year-over-year decline in revenue was driven by a decline in sales of CTT and Prostiva products compared to the prior year.

For the year, the company reported sales of $14.235 million compared to $16.59 million a year ago. Operating loss was $6.93 million compared to $3.922 million a year ago. Loss before income taxes was $7.624 million compared to $4.278 million a year ago. Net loss was $7.608 million or $0.36 per basic and diluted share compared to $4.292 million or $0.21 per basic and diluted share a year ago. The year-over-year decline in revenue was driven by similar declines in sales of Cooled ThermoTherapy (CTT) products and Prostiva Radio Frequency (RF) Therapy products. Net cash used for operating activities was $1.53 million against $1.959 million a year ago. Purchases of property and equipment was $0.032 million against $0.079 million a year ago.

For the quarter, the company recorded impairment of goodwill of $3.036 million.

For the full year 2015, the company expects to generate positive cash flow from operations.