Urologix (ULGX) 8-K Urologix Reports Fiscal Year 2013 Third Quarter Results and Reaffirms Annual Guidance

Exhibit 99.2

Urologix, Inc.
Certain Remarks of Brian J. Smrdel
3rd Quarter FY 2013 Earnings Call
May 1, 2013

• Q3 sales of CTT were $2.661 million, down $191,000 compared to the last quarter, or 6.7%, and also down $355,000, or 11.8%, compared to last year. Q3 Prostiva revenue of $1.421 million decreased $81,000 compared to last quarter, or 5.4%, and decreased $300,000, or 17.4%, compared to last year’s third quarter.

• International revenue was essentially flat compared to the second quarter of fiscal year 2013, but was down $62,000 compared to last year’s third quarter primarily from weakness in the EU economies.

• The gross margin in the prior year period was also positively impacted by a change in the inventory reserve.

• On a sequential basis, excluding one-time items, operating expense decreased by $49,000, or 1.5%, related to lower sales compensation compared to the previous quarter.

• I want to take a moment to summarize the impact to our balance sheet from the unpaid Prostiva amounts. In total, since the close of the license agreement we have received $6.1 million of Prostiva product from Medtronic with extended payment terms, of which approximately $3.0 million is currently due. In addition we have accrued for the royalty and license obligations due and unpaid under the Prostiva license agreement totaling approximately $1.2 million.