Misonix (MSON) 10-Q 9 Feb 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2015	Feb. 08, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Registrant Name	MISONIX INC
Entity Central Index Key	880,432
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Trading Symbol	MSON
Entity Common Stock, Shares Outstanding		7,789,385

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 9,557,755	$ 9,623,749
Accounts receivable, less allowance for doubtful accounts of $126,868, respectively	4,079,093	4,481,247
Inventories, net	5,409,980	4,303,163
Prepaid expenses and other current assets	326,354	441,562
Deferred income tax - current	0	2,118,716
Total current assets	19,373,182	20,968,437
Property, plant and equipment, net of accumulated amortization and depreciation of $6,259,868 and $5,672,287, respectively	2,488,751	2,056,600
Patents, net of accumulated amortization of $838,357 and $791,551, respectively	565,426	566,028
Goodwill	1,701,094	1,701,094
Intangible and other assets	218,340	388,377
Deferred income tax - long term	3,103,428	773,712
Total assets	27,450,221	26,454,248
Current liabilities:
Accounts payable	1,512,523	1,147,414
Accrued expenses and other current liabilities	1,320,158	1,532,094
Total current liabilities	2,832,681	2,679,508
Deferred lease liability	4,631	0
Deferred income	26,972	20,395
Total liabilities	$ 2,864,284	$ 2,699,903
Commitments and contingencies (Note 8)
Stockholders' equity:
Common stock, $.01 par value-shares authorized 20,000,000, 7,927,634 and 7,869,095 shares issued and 7,788,785 and 7,744,113 shares outstanding, respectively	$ 79,276	$ 78,691
Additional paid-in capital	31,560,384	30,531,129
Accumulated deficit	(5,954,371)	(5,909,215)
Treasury stock, at cost, 138,849 and 124,982 shares, respectively	(1,099,352)	(946,260)
Total stockholders' equity	24,585,937	23,754,345
Total liabilities and stockholders' equity	$ 27,450,221	$ 26,454,248

Consolidated Balance Sheets _Pa

Consolidated Balance Sheets [Parenthetical] - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Allowance for doubtful accounts (in dollars)	$ 126,868	$ 126,868
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment (in dollars)	6,259,868	5,672,287
Finite-Lived Intangible Assets, Accumulated Amortization	$ 838,357	$ 791,551
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	7,927,634	7,869,095
Common stock, shares outstanding	7,788,785	7,744,113
Treasury stock, shares	138,849	124,982

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Net sales	$ 6,039,355	$ 5,601,008	$ 11,290,340	$ 10,140,345
Cost of goods sold	1,944,101	1,767,175	3,713,666	3,353,280
Gross profit	4,095,254	3,833,833	7,576,674	6,787,065
Operating expenses:
Selling expenses	2,882,935	2,085,174	5,519,536	4,104,460
General and administrative expenses	1,841,760	1,534,784	3,663,112	2,780,862
Research and development expenses	347,949	324,301	741,324	761,892
Total operating expenses	5,072,644	3,944,259	9,923,972	7,647,214
Loss from operations	(977,390)	(110,426)	(2,347,298)	(860,149)
Other income (expense):
Interest income	25	19	44	44
Royalty income and license fees	1,018,362	1,044,941	2,006,532	2,192,892
Other	(5,413)	(4,847)	(11,434)	(10,526)
Total other income	1,012,974	1,040,113	1,995,142	2,182,410
(Loss)/income from continuing operations before income taxes	35,584	929,687	(352,156)	1,322,261
Income tax (benefit)/expense	(139,000)	33,465	(307,000)	47,817
Net (loss)/income from continuing operations	174,584	896,222	(45,156)	1,274,444
Discontinued operations:
Income from discontinued operations net of tax expense of $0 and $0, respectively	0	4,975	0	9,950
Net income from discontinued operations	0	4,975	0	9,950
Net (loss)/income	$ 174,584	$ 901,197	$ (45,156)	$ 1,284,394
Net (loss)/income per share from continuing operations - Basic (in dollars per share)	$ 0.02	$ 0.12	$ (0.01)	$ 0.17
Net income per share from discontinued operations - Basic (in dollars per share)	0	0	0	0
Net (loss)/income per share - Basic (in dollars per share)	0.02	0.12	(0.01)	0.17
Net (loss)/income per share from continuing operations - Diluted (in dollars per share)	0.02	0.11	(0.01)	0.16
Net income per share from discontinued operations - Diluted (in dollars per share)	0	0	0	0
Net (loss)/income per share - Diluted (in dollars per share)	$ 0.02	$ 0.11	$ (0.01)	$ 0.16
Weighted average shares - Basic (in shares)	7,780,778	7,567,442	7,764,644	7,464,194
Weighted average shares - Diluted (in shares)	8,081,602	8,170,821	7,764,644	7,907,627

Consolidated Statements of Ope5

Consolidated Statements of Operations [Parenthetical] - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Income from discontinued operations, Tax expense	$ 0	$ 0	$ 0	$ 0

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - 6 months ended Dec. 31, 2015 - USD ($)	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Balance at Jun. 30, 2015	$ 23,754,345	$ 78,691	$ (946,260)	$ 30,531,129	$ (5,909,215)
Balance (in shares) at Jun. 30, 2015		7,869,095	(124,982)
Net (loss)/comprehensive (loss)	(45,156)	$ 0	$ 0	0	(45,156)
Proceeds from exercise of stock options	147,755	$ 585	$ (153,092)	300,262	0
Proceeds from exercise of stock options (in shares)		58,539	(13,867)
Stock-based compensation	728,993	$ 0	$ 0	728,993	0
Balance at Dec. 31, 2015	$ 24,585,937	$ 79,276	$ (1,099,352)	$ 31,560,384	$ (5,954,371)
Balance (in shares) at Dec. 31, 2015		7,927,634	(138,849)

Consolidated Statement of Stoc7

Consolidated Statement of Stockholders' Equity [Parenthetical] - $ / shares	Dec. 31, 2015	Jun. 30, 2015
Common Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Operating activities
Net (loss)/income from continuing operations	$ (45,156)	$ 1,274,444
Adjustments to reconcile net (loss)/income to net cash provided by continuing operating activities:
Depreciation and amortization and other non-cash items	903,420	621,949
Bad debt expense	0	10,000
Deferred income tax benefit	(211,000)	0
Stock-based compensation	728,993	483,585
Deferred income	(8,583)	(31,788)
Deferred lease liability	4,631	(8,307)
Changes in operating assets and liabilities:
Accounts receivable	402,154	174,144
Inventories	(1,848,313)	(476,052)
Prepaid expenses and other assets	66,261	164,453
Accounts payable, accrued expenses and other non-cash items	168,333	(828,924)
Net cash provided by continuing operating activities	160,740	1,383,504
Investing activities
Acquisition of property, plant and equipment	(328,285)	(185,360)
Additional patents	(46,204)	(80,384)
Net cash used in investing activities	(374,489)	(265,744)
Financing activities
Proceeds from exercise of stock options	147,755	127,976
Net cash provided by financing activities	147,755	127,976
Cash flows from discontinued operations
Net cash provided by operating activities	0	9,950
Net cash provided by discontinued operations	0	9,950
Net (decrease)/increase in cash and cash equivalents	(65,994)	1,255,686
Cash and cash equivalents at beginning of period	9,623,749	7,039,938
Cash and cash equivalents at end of period	9,557,755	8,295,624
Supplemental disclosure of cash flow information:
Cash paid for Income taxes	$ 131,325	$ 40,170

Basis of Presentation

Basis of Presentation	6 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	Basis of Presentation The accompanying unaudited financial information should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Annual Report on Form 10-K for the year ended June 30, 2015 (“2015 Annual Report”) of MISONIX, INC. (“Misonix” or the “Company”). A summary of the Company’s significant accounting policies is identified in Note 1 of the notes to the consolidated financial statements included in the Company’s 2015 Annual Report. As of December 31, 2015 the Company adopted the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-17, “Balance Sheet Classification of Deferred Taxes (Topic 740)”. The amendments in the ASU change the criteria for the classification of deferred income taxes and requires all deferred tax assets and liabilities to be classified as long term. The resulting reclassification of deferred tax assets and liabilities are presented in the current period; prior periods will be shown as reported. The effect is totally on the balance sheet. For the period ended June 30, 2015, the effect would be a reduction in current assets of $ 2,118,716 16,170,213 The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X pursuant to the requirements of the U.S. Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The results of operations for the interim periods are not necessarily indicative of the results of operations for the entire year. The consolidated financial statements of the Company include the accounts of Misonix and its 100 Misonix is a surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products worldwide for spine surgery, skull-based surgery, neurosurgery, wound and burn debridement, cosmetic surgery, laparoscopic surgery and other surgical applications. Three months ended December 31, Six months ended ended December 31, 2015 2014 2015 2014 United States $ 3,202,041 $ 2,956,698 $ 6,270,111 $ 5,102,079 Australia 40,788 27,915 120,533 151,363 Europe 821,596 1,110,385 1,471,283 1,723,890 Asia 1,030,859 848,346 1,568,593 1,742,603 Canada and Mexico 169,848 103,496 411,548 241,216 South America 218,690 193,966 475,551 519,208 South Africa 55,980 94,029 135,965 180,616 Middle East 499,553 266,173 836,756 479,370 $ 6,039,355 $ 5,601,008 $ 11,290,340 $ 10,140,345 Laboratory and Forensic Safety Products Business On October 19, 2011, Misonix sold its Laboratory Products business, which comprised substantially all of the Laboratory and Scientific Products segment, to Mystaire, Inc. (“Mystaire”) for $ 1.5 500,000 High Intensity Focused Ultrasound Technology In consideration for the May 2010 sale of its rights to the high intensity focused ultrasound technology to USHIFU LLC, now SonaCare Medical, LLC(“SonaCare”), Misonix will receive up to approximately $ 5.8 7 3 5 5.8 st 1,004,788 For the three months ended For the six months ended December 31, December 31, 2015 2014 2015 2014 Revenues $ - $ 4,975 $ - $ 9,950 Income from discontinued operations, before tax $ - $ 4,975 $ - $ 9,950 Gain on sale of discontinued operations - - - - Income tax benefit/(expense) - - - - Net income from discontinued operations, net of tax $ - $ 4,975 $ - $ 9,950 Accounts receivable, principally trade, are generally due within 30 90

Loss_Income Per Share of Common

Loss/Income Per Share of Common Stock	6 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	2. Loss/Income Per Share of Common Stock Basic income (loss) per common share (“basic EPS”) is computed by dividing income (loss) by the weighted average number of common shares outstanding for the period. Diluted income (loss) per common share (“diluted EPS”) is computed by dividing income (loss) by the weighted average number of common shares and dilutive common share equivalents outstanding (consisting of outstanding common stock options) for the period. The number of weighted average common shares used in the calculation of basic EPS and diluted EPS were as follows: For the six months ended For the three months ended December 31, December 31, 2015 2014 2015 2014 Basic shares 7,764,644 7,464,194 7,780,778 7,567,442 Dilutive effect of stock options - 443,433 300,824 603,379 Diluted shares 7,764,644 7,907,627 8,081,602 8,170,821 Excluded from the calculations of diluted EPS are options to purchase 257,000 Diluted EPS for the six months ended December 31, 2015 presented is the same as basic EPS as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. For this reason, excluded from the calculation of diluted EPS are outstanding options to purchase 1,725,479

Comprehensive (Loss)_Income

Comprehensive (Loss)/Income	6 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Comprehensive Income (Loss) Note [Text Block]	3. Comprehensive (Loss)/Income Total comprehensive (loss)/income was $ (45,156) 1,284,394 174,584 901,197

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	4. Stock-Based Compensation Stock options are granted with exercise prices not less than the fair market value of our common stock at the time of the grant, with an exercise term (as determined by the committee administering the applicable option plan (the “Committee”)) not to 230,000 279,000 Stock-based compensation expense for the six month periods ended December 31, 2015 and 2014 was approximately $ 729,000 484,000 3,776,000 2.6 Shares may be acquired by various methods. They may be acquired by (a) cash or certified check, (b) with previously acquired shares of common stock having an aggregate fair market value, on the date of exercise, equal to the aggregate exercise price of all options being exercised (provided that such shares were not acquired less than six (6) months prior to such exercise date), (c) by surrendering options to acquire shares of common stock in in exchange for the number of shares of common stock equal to the product of the number of shares of common stock as to which the options is being exercised multiplied by a fraction, the numerator of which is the fair market value of the common stock less the exercise price of the option and the denominator of which is such fair market value. Cash in the amount of $ 147,755 13,867 62,137 For the six months ended December 31, 2015 2014 Risk-free interest rate 1.3 % 1.3 % Expected option life in years 4.0 6.5 Expected stock price volatility 54.23 % 75.05 % Expected dividend yield 0 % 0 % Weighted-average fair value of options granted $ 4.01 $ 5.90 The expected option term is based upon the number of years the Company estimates the option will be outstanding based on historical exercises and terminations. The expected volatility for the expected life of the options is determined using historical price changes of the Company’s stock over a period equal to that of the expected life of the options. The risk free rate is based upon the U.S. Treasury yield in effect at the time of the grant. The expected dividend yield is 0 Options Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Life Intrinsic Shares Price ($) (years) Value (a) Outstanding as of June 30, 2015 1,557,616 5.80 Granted 230,000 9.43 Exercised (62,137) 5.45 $ 219,882 Forfeited - Expired - Outstanding as of December 31, 2015 1,725,479 6.29 7.0 $ 6,182,116 Exercisable and vested at December 31, 2015 811,729 5.9 $ 4,758,812 Available for grant as of December 31, 2015 569,600 (a) Intrinsic value for purposes of this table represents the amount by which the fair value of the underlying stock, based on the respective market prices at December 31, 2015 or if exercised, the exercise dates, exceeds the exercise prices of the respective options.

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	5. Income Taxes For the six months ended December 31, 2015, the Company recorded an income tax benefit from continuing operations of $ 307,000 87.2 3.6 The Company as of June 30, 2015 reversed the valuation allowance against its deferred tax assets based on its consideration of all available positive and negative evidence including achieving cumulative profitable operation performance over the past three years and a positive outlook for taxable income for the future. The results of the first half of fiscal 2016 do not alter the strong positive evidence. As a result the Company recorded an income tax benefit for the first half of fiscal 2016 at the annual projected tax rate of 87.2%. As of December 31, 2015 and June 30, 2015, the Company has no material unrecognized tax benefits or accrued interest and penalties.

Inventories

Inventories	6 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	6. Inventories Inventories are summarized as follows: December 31, June 30, 2015 2015 Raw material $ 2,752,326 $ 2,096,443 Work-in-process 684,143 660,267 Finished goods 3,028,806 2,536,699 6,465,275 5,293,409 Less valuation reserve 1,055,295 990,246 $ 5,409,980 $ 4,303,163

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	7. Accrued Expenses and Other Current Liabilities The following summarizes accrued expenses and other current liabilities: December 31, June 30, 2015 2015 Accrued payroll and vacation $ 490,654 $ 507,172 Accrued bonuses 200,000 300,000 Accrued commissions 321,000 321,440 Accrued professional and legal fees 102,380 97,880 Income tax payable - 71,302 Deferred income 25,751 40,911 Other 180,373 193,389 $ 1,320,158 $ 1,532,094

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	8. Commitments and Contingencies The Company and its subsidiaries are from time to time involved in ordinary and routine litigation. Management presently believes that the ultimate outcome of these proceedings, individually or in the aggregate, will not have a material adverse effect on the Company’s financial position, cash flows or result of operations. Nevertheless, litigation is subject to inherent uncertainties and an unfavorable ruling could occur. An unfavorable ruling could include money damages and in such event, could result in a material adverse impact on the Company’s results of operations in the year in which the ruling occurs.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	9. Fair Value of Financial Instruments We follow a three-level fair value hierarchy that prioritizes the inputs to measure fair value. This hierarchy requires entities to maximize the use of “observable inputs” and minimize the use of “unobservable inputs.” The three levels of inputs used to measure fair value are as follows: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect assumptions that market participants would use in pricing an asset or liability. The following is a summary of the carrying amounts and estimated fair values of our financial instruments at December 31, 2015 and June 30, 2015: December 31, 2015 Carrying Amount Fair Value Cash and cash equivalents $ 9,557,757 $ 9,557,757 Trade accounts receivable 4,079,093 4,079,093 Trade accounts payable 1,512,523 1,512,523 June 30, 2015 Carrying Amount Fair Value Cash and cash equivalents $ 9,623,749 $ 9,623,749 Trade accounts receivable 4,481,247 4,481,247 Trade accounts payable 1,147,414 1,147,414 The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: Cash and cash equivalents The carrying amount approximates fair value because of the short maturity of those instruments. Trade Accounts Receivable The carrying amount of trade receivables reflects net recovery value and approximates fair value because of their short outstanding terms. Trade Accounts Payable The carrying amount of trade payables approximates fair value because of their short outstanding terms. Non-financial assets and liabilities Certain non-financial assets and liabilities, principally goodwill, are measured at fair value on a non-recurring basis; that is the assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances, such as when evidence of impairment exists. At December 31, 2015, no fair value adjustments or material fair value measurements were required for non-financial assets or liabilities.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	10. Goodwill and Intangible Assets Goodwill is not amortized. We review goodwill for impairment annually and whenever events or changes indicate that the carrying value of an asset may not be recoverable. These events or circumstances could include a significant change in the business climate, legal factors, operating performance indicators, competition, or sale or disposition of significant assets or product lines. Application of these impairment tests requires significant judgments, including estimation of cash flows, which is dependent on internal forecasts, estimation of the long-term rate of growth for our business, estimation of the useful life over which cash flows will occur and determination of our weighted-average cost of capital. We primarily use a discounted cash flow model in determining fair value, which consists of level three inputs. Changes in the projected cash flows and discount rate estimates and assumptions underlying the valuation of goodwill could materially affect the determination of fair value at acquisition or during subsequent periods when tested for impairment. The Company determined that there were no indicators that the recorded goodwill was impaired as of December 31, 2015 which required further testing. On February 1, 2015, the Company entered into an agreement with Aesculap, Inc. (“Aesculap”) to buy back certain accounts that were protected under the termination agreement entered into by Misonix and Aesculap on December 31, 2012 (the “Termination Agreement”). The Termination Agreement allowed Aesculap to continue to sell and service key accounts which were defined as accounts maintaining a specified revenue level on average over a three year term which expired on December 31, 2015. The buy back amount total was $ 328,136 28,867 The cost of acquiring or processing patents is capitalized. This amount is being amortized using the straight-line method over the estimated useful lives of the underlying assets, which is approximately 17 565,426 566,028 838,357 791,551 24,000 26,000 47,000 105,000 Net customer relationships reported in intangible and other assets totaled $ 0 40,000 800,000 760,000 0 40,000 40,000 80,000 Net reacquired contractual rights from Aesculap reported in intangible and other assets totaled $ 0 178,983 328,136 149,153 89,492 0 178,983 0 Patents 2016 $ 45,791 2017 87,042 2018 82,813 2019 74,506 2020 51,077 Thereafter 224,197 $ 565,426

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Dec. 31, 2015
Accounting Changes and Error Corrections [Abstract]
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	11. Recent Accounting Pronouncements In April 2014, the FASB issued ASU 2014-08, “Presentation of Financial Statements (Topic 205)” and “Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” The amendments in the ASU change the criteria for reporting discontinued operations while enhancing related disclosures. The amendments in the ASU are effective in the first quarter of 2015. The adoption of ASU 2014-08 did not have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)." The new revenue recognition standard as amended provides a five-step analysis to determine when and how revenue is recognized. The standard requires that a company recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU is effective for annual periods beginning after December 15, 2019 and will be applied retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company is currently evaluating the impact of the pending adoption of ASU 2014-09 on its consolidated financial statements. In July 2015, the FASB issued ASU “Inventory (Topic 330).” The amendments in this update are effective for fiscal years beginning after December 2016. The adoption of Inventory (Topic 330) will not have a material impact on the Company’s consolidated financial statements. In November 2015, FASB issued ASU 2015-17 “Balance Sheet Classification of deferred Taxes (Topic740)”. The amendments in this ASU require deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments eliminate the guidance in Topic 740 that requires an entity to separate deferred tax liabilities and assets into a current amount and a noncurrent amount in a classified statement of financial position. The amendments in this update have no effect on entities that do not present a classified statement of financial position. The Company adopted ASU 2015-17 as of December 31, 2015 on a prospective basis. This means that the balance sheet for the period ended June 30, 2015 will be shown as previously reported. The effect is totally on the balance sheet and resulted in a reduction in current assets of $ 2,118,716 16,170,213

Licensing Agreements for Medica

Licensing Agreements for Medical Technology	6 Months Ended
	Dec. 31, 2015
Licensing Agreements For Medical Technology [Abstract]
Licensing Agreements For Medical Technology [Text Block]	12. Licensing Agreements for Medical Technology In October 1996, the Company entered into a License Agreement (the "USS License") with United States Surgical (now, Covidien plc) for a twenty-year period, expiring October 2016, covering the further development and commercial exploitation of the Company's medical technology relating to laparoscopic products, which uses high frequency sound waves to coagulate and divide tissue for both open and laparoscopic surgery. The USS License gives Covidien exclusive worldwide marketing and sales rights for this technology. Under the USS License, the Company has received $ 475,000 1,979,000 2,140,000

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	Organization and Business Misonix is a surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products worldwide for spine surgery, skull-based surgery, neurosurgery, wound and burn debridement, cosmetic surgery, laparoscopic surgery and other surgical applications. Three months ended December 31, Six months ended ended December 31, 2015 2014 2015 2014 United States $ 3,202,041 $ 2,956,698 $ 6,270,111 $ 5,102,079 Australia 40,788 27,915 120,533 151,363 Europe 821,596 1,110,385 1,471,283 1,723,890 Asia 1,030,859 848,346 1,568,593 1,742,603 Canada and Mexico 169,848 103,496 411,548 241,216 South America 218,690 193,966 475,551 519,208 South Africa 55,980 94,029 135,965 180,616 Middle East 499,553 266,173 836,756 479,370 $ 6,039,355 $ 5,601,008 $ 11,290,340 $ 10,140,345
Discontinued Operations, Policy [Policy Text Block]	Discontinued Operations Laboratory and Forensic Safety Products Business On October 19, 2011, Misonix sold its Laboratory Products business, which comprised substantially all of the Laboratory and Scientific Products segment, to Mystaire, Inc. (“Mystaire”) for $ 1.5 500,000 High Intensity Focused Ultrasound Technology In consideration for the May 2010 sale of its rights to the high intensity focused ultrasound technology to USHIFU LLC, now SonaCare Medical, LLC(“SonaCare”), Misonix will receive up to approximately $ 5.8 7 3 5 5.8 st 1,004,788 For the three months ended For the six months ended December 31, December 31, 2015 2014 2015 2014 Revenues $ - $ 4,975 $ - $ 9,950 Income from discontinued operations, before tax $ - $ 4,975 $ - $ 9,950 Gain on sale of discontinued operations - - - - Income tax benefit/(expense) - - - - Net income from discontinued operations, net of tax $ - $ 4,975 $ - $ 9,950
Receivables, Policy [Policy Text Block]	Accounts Receivable Accounts receivable, principally trade, are generally due within 30 90

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	The Company’s revenues are generated from various regions throughout the world. Sales by the Company outside the United States are made primarily through distributors. Sales made in the United States are made primarily through independent representative agents. The following is an analysis of net sales from continuing operations by geographic region: Three months ended December 31, Six months ended ended December 31, 2015 2014 2015 2014 United States $ 3,202,041 $ 2,956,698 $ 6,270,111 $ 5,102,079 Australia 40,788 27,915 120,533 151,363 Europe 821,596 1,110,385 1,471,283 1,723,890 Asia 1,030,859 848,346 1,568,593 1,742,603 Canada and Mexico 169,848 103,496 411,548 241,216 South America 218,690 193,966 475,551 519,208 South Africa 55,980 94,029 135,965 180,616 Middle East 499,553 266,173 836,756 479,370 $ 6,039,355 $ 5,601,008 $ 11,290,340 $ 10,140,345
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	Results of Discontinued Operations For the three months ended For the six months ended December 31, December 31, 2015 2014 2015 2014 Revenues $ - $ 4,975 $ - $ 9,950 Income from discontinued operations, before tax $ - $ 4,975 $ - $ 9,950 Gain on sale of discontinued operations - - - - Income tax benefit/(expense) - - - - Net income from discontinued operations, net of tax $ - $ 4,975 $ - $ 9,950

Loss_Income Per Share of Comm23

Loss/Income Per Share of Common Stock (Tables)	6 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	The number of weighted average common shares used in the calculation of basic EPS and diluted EPS were as follows: For the six months ended For the three months ended December 31, December 31, 2015 2014 2015 2014 Basic shares 7,764,644 7,464,194 7,780,778 7,567,442 Dilutive effect of stock options - 443,433 300,824 603,379 Diluted shares 7,764,644 7,907,627 8,081,602 8,170,821

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The fair values of the options granted during the three months ended December 31, 2015 and 2014 were primarily estimated on the date of the grant using the Black-Scholes option-pricing model on the basis of the following weighted average assumptions during the respective periods: For the six months ended December 31, 2015 2014 Risk-free interest rate 1.3 % 1.3 % Expected option life in years 4.0 6.5 Expected stock price volatility 54.23 % 75.05 % Expected dividend yield 0 % 0 % Weighted-average fair value of options granted $ 4.01 $ 5.90
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Changes in outstanding stock options during the six months ended December 31, 2015 were as follows: Options Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Life Intrinsic Shares Price ($) (years) Value (a) Outstanding as of June 30, 2015 1,557,616 5.80 Granted 230,000 9.43 Exercised (62,137) 5.45 $ 219,882 Forfeited - Expired - Outstanding as of December 31, 2015 1,725,479 6.29 7.0 $ 6,182,116 Exercisable and vested at December 31, 2015 811,729 5.9 $ 4,758,812 Available for grant as of December 31, 2015 569,600 (a) Intrinsic value for purposes of this table represents the amount by which the fair value of the underlying stock, based on the respective market prices at December 31, 2015 or if exercised, the exercise dates, exceeds the exercise prices of the respective options.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories are summarized as follows: December 31, June 30, 2015 2015 Raw material $ 2,752,326 $ 2,096,443 Work-in-process 684,143 660,267 Finished goods 3,028,806 2,536,699 6,465,275 5,293,409 Less valuation reserve 1,055,295 990,246 $ 5,409,980 $ 4,303,163

Accrued Expenses and Other Cu26

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities [Table Text Block]	The following summarizes accrued expenses and other current liabilities: December 31, June 30, 2015 2015 Accrued payroll and vacation $ 490,654 $ 507,172 Accrued bonuses 200,000 300,000 Accrued commissions 321,000 321,440 Accrued professional and legal fees 102,380 97,880 Income tax payable - 71,302 Deferred income 25,751 40,911 Other 180,373 193,389 $ 1,320,158 $ 1,532,094

Fair Value of Financial Instr27

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping [Table Text Block]	The following is a summary of the carrying amounts and estimated fair values of our financial instruments at December 31, 2015 and June 30, 2015: December 31, 2015 Carrying Amount Fair Value Cash and cash equivalents $ 9,557,757 $ 9,557,757 Trade accounts receivable 4,079,093 4,079,093 Trade accounts payable 1,512,523 1,512,523 June 30, 2015 Carrying Amount Fair Value Cash and cash equivalents $ 9,623,749 $ 9,623,749 Trade accounts receivable 4,481,247 4,481,247 Trade accounts payable 1,147,414 1,147,414

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	The following is a schedule of estimated future amortization expense as of December 31, 2015: Patents 2016 $ 45,791 2017 87,042 2018 82,813 2019 74,506 2020 51,077 Thereafter 224,197 $ 565,426

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Revenue from External Customer [Line Items]
Net sales	$ 6,039,355	$ 5,601,008	$ 11,290,340	$ 10,140,345
UNITED STATES
Revenue from External Customer [Line Items]
Net sales	3,202,041	2,956,698	6,270,111	5,102,079
AUSTRALIA
Revenue from External Customer [Line Items]
Net sales	40,788	27,915	120,533	151,363
SOUTH AFRICA
Revenue from External Customer [Line Items]
Net sales	55,980	94,029	135,965	180,616
EUROPE
Revenue from External Customer [Line Items]
Net sales	821,596	1,110,385	1,471,283	1,723,890
ASIA
Revenue from External Customer [Line Items]
Net sales	1,030,859	848,346	1,568,593	1,742,603
CANADA AND MEXICO
Revenue from External Customer [Line Items]
Net sales	169,848	103,496	411,548	241,216
SOUTH AMERICA
Revenue from External Customer [Line Items]
Net sales	218,690	193,966	475,551	519,208
MIDDLE EAST
Revenue from External Customer [Line Items]
Net sales	$ 499,553	$ 266,173	$ 836,756	$ 479,370

Basis of Presentation (Details

Basis of Presentation (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	$ 0	$ 4,975	$ 0	$ 9,950
Income from discontinued operations, before tax	0	4,975	0	9,950
Gain on sale of discontinued operations	0	0	0	0
Income tax benefit/(expense)	0	0	0	0
Net income from discontinued operations, net of tax	$ 0	$ 4,975	$ 0	$ 9,950

Basis of Presentation (Detail31

Basis of Presentation (Details Textual) - USD ($)	1 Months Ended		6 Months Ended
	Oct. 19, 2011	May. 31, 2010	Dec. 31, 2015	Jun. 30, 2015
Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies [Line Items]
Working Capital				$ 16,170,213
Reduction in current assets			$ 0	$ 2,118,716
Minimum [Member]
Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies [Line Items]
Accounts Receivable Due Number Of Days			30 days
Maximum [Member]
Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies [Line Items]
Accounts Receivable Due Number Of Days			90 days
Laboratory and Forensic Safety Products Business [Member]
Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies [Line Items]
Proceeds from Sales of Business, Affiliate and Productive Assets	$ 1,500,000
Sale of Business Potential Additional Payment	$ 500,000
High Intensity Focused Ultrasound Technology [Member]
Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies [Line Items]
Proceeds from Sales of Intangible Assets		$ 5,800,000
Sale of Intangible Assets Percentage of Gross Revenue Received as Earn Out Up to First Benchmark		7.00%
Proceeds from Sale of Intangible Assets First Benchmark		$ 3,000,000
Sale of Intangible Assets Percentage of Gross Revenue Received as Earn Out Up to Second Benchmark		5.00%
Proceeds from Sale of Intangible Assets Second Benchmark		$ 5,800,000
Payment Sale Of Intangible Assets			$ 1,004,788
Fibra Sonics Ny Inc [Member]
Basis of Presentation, Organization and Business and Summary of Significant Accounting Policies [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent				100.00%

Loss_Income Per Share of Comm32

Loss/Income Per Share of Common Stock (Details) - shares	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Basic shares	7,780,778	7,567,442	7,764,644	7,464,194
Dilutive effect of stock options	300,824	603,379	0	443,433
Diluted shares	8,081,602	8,170,821	7,764,644	7,907,627

Loss_Income Per Share of Comm33

Loss/Income Per Share of Common Stock (Details Textual) - shares	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	257,000	2,000	1,725,479	2,000

Comprehensive (Loss)_Income (De

Comprehensive (Loss)/Income (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 174,584	$ 901,197	$ (45,156)	$ 1,284,394

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - $ / shares	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.30%	1.30%
Expected option life in years	4 years	6 years 6 months
Expected stock price volatility	54.23%	75.05%
Expected dividend yield	0.00%	0.00%
Weighted-average fair value of options granted	$ 4.01	$ 5.9

Stock-Based Compensation (Det36

Stock-Based Compensation (Details 1) - Employee Stock Option [Member]	6 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding at beginning of period	1,557,616
Number of Shares, Granted	230,000
Number of Shares, Exercised	(62,137)
Number of Shares, Forfeited	0
Number of Shares, Expired	0
Number of Shares, Outstanding at end of period	1,725,479
Number of Shares, Exercisable and vested	811,729
Number of shares, Available for grant	569,600
Weighted Average Exercise Price, Outstanding at beginning of period | $ / shares	$ 5.8
Weighted Average Exercise Price, Granted | $ / shares	9.43
Weighted Average Exercise Price, Exercised | $ / shares	5.45
Weighted Average Exercise Price, Outstanding at end of period | $ / shares	$ 6.29
Weighte Average Remaining Contractual Life, Outstanding (in years)	7 years
Weighte Average Remaining Contractual Life, Exercisable and vested (in years)	5 years 10 months 24 days
Aggregate Intrinsic Value, Exercised (in dollars) | $	$ 219,882	[1]
Aggregate Intrinsic Value, Outstanding (in dollars) | $	6,182,116	[1]
Aggregate Intrinsic Value, Exercisable and vested (in dollars) | $	$ 4,758,812	[1]
[1]	Intrinsic value for purposes of this table represents the amount by which the fair value of the underlying stock, based on the respective market prices at December 31, 2015 or if exercised, the exercise dates, exceeds the exercise prices of the respective options.

Stock-Based Compensation (Det37

Stock-Based Compensation (Details Textual) - USD ($)	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award	not to exceed 10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period	230,000	279,000
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options	$ 3,776,000
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition 1	2 years 7 months 6 days
Allocated Share-based Compensation Expense	$ 729,000	$ 484,000
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options	$ 147,755
Treasury Stock, Shares, Acquired	13,867
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercises In Period	62,137

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Income Tax Expense (Benefit)	$ (139,000)	$ 33,465	$ (307,000)	$ 47,817
Effective Income Tax Rate Reconciliation, Percent			87.20%	3.60%

Inventories (Details)

Inventories (Details) - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Inventory [Line Items]
Raw material	$ 2,752,326	$ 2,096,443
Work-in-process	684,143	660,267
Finished goods	3,028,806	2,536,699
Inventory, Gross	6,465,275	5,293,409
Less valuation reserve	1,055,295	990,246
Inventory, Net, Total	$ 5,409,980	$ 4,303,163

Accrued Expenses and Other Cu40

Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Accrued Expenses and Other Current Liabilities [Line Items]
Accrued payroll and vacation	$ 490,654	$ 507,172
Accrued bonuses	200,000	300,000
Accrued commissions	321,000	321,440
Accrued professional and legal fees	102,380	97,880
Income tax payable	0	71,302
Deferred income	25,751	40,911
Other	180,373	193,389
Accrued Expenses and Other Current Liabilities	$ 1,320,158	$ 1,532,094

Fair Value of Financial Instr41

Fair Value of Financial Instruments (Details) - USD ($)	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, Carrying Amount	$ 9,557,755	$ 9,623,749	$ 8,295,624	$ 7,039,938
Trade accounts receivable, Carrying Amount	4,079,093	4,481,247
Trade accounts payable, Carrying Amount	1,512,523	1,147,414
Cash and cash equivalents, Fair Value	9,557,757	9,623,749
Trade accounts receivable, Fair Value	4,079,093	4,481,247
Trade accounts payable, Fair Value	$ 1,512,523	$ 1,147,414

Goodwill and Intangible Asset42

Goodwill and Intangible Assets (Details) - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Finite-Lived Intangible Assets, Future Amortization Expense	$ 565,426	$ 566,028
Patents [Member]
2,016	45,791
2,017	87,042
2,018	82,813
2,019	74,506
2,020	51,077
Thereafter	224,197
Finite-Lived Intangible Assets, Future Amortization Expense	$ 565,426

Goodwill and Intangible Asset43

Goodwill and Intangible Assets (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015	Mar. 01, 2015	Feb. 01, 2015
Finite-Lived Intangible Asset, Useful Life			17 years
Finite-Lived Intangible Assets, Net	$ 565,426		$ 565,426		$ 566,028
Finite-Lived Intangible Assets, Accumulated Amortization	838,357		838,357		791,551
Amortization of Intangible Assets	24,000	$ 26,000	47,000	$ 105,000
Buy Back Amount						$ 28,867	$ 328,136
Customer Relationships [Member]
Finite-Lived Intangible Assets, Net	0		0		40,000
Finite-Lived Intangible Assets, Accumulated Amortization	800,000		800,000		760,000
Amortization of Intangible Assets	0	40,000	40,000	80,000
Contractual Rights [Member]
Finite-Lived Intangible Assets, Net	0		0		178,983
Finite-Lived Intangible Assets, Accumulated Amortization	328,136		328,136		$ 149,153
Amortization of Intangible Assets	$ 89,492	$ 0	$ 178,983	$ 0

Recent Accounting Pronounceme44

Recent Accounting Pronouncements (Details Textual) - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Recent Accounting Pronouncements [Line Items]
Reduction in current assets	$ 0	$ 2,118,716
Working Capital		$ 16,170,213

Licensing Agreements for Medi45

Licensing Agreements for Medical Technology (Details Textual) - USD ($)	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Proceeds from License Fees Received	$ 475,000
Proceeds from Royalties Received	$ 1,979,000	$ 2,140,000
License Agreement Expiration Period	2016-10