Profits drop for Synergetics

Synergetics USA, Inc. reported a 26 percent decline in net income, to $1.4 million, in the fourth quarter compared to the same time period last year. The company attributed the decrease primarily to increasing operating expenses resulting from the commercialization of VersaVIT.

Sales increased almost 6 percent for the quarter, to $17.9 million, with a 2.9 percent increase in ophthalmic sales. Year-over-year sales increased 4.6 percent total, with a 5.5 percent increase in domestic sales and a 2.1 percent increase in international sales. 

"We were pleased with our fourth quarter revenue performance, particularly in the U.S., where we saw improving trends in our ophthalmic sales of both new and base business products,” President and CEO David M. Hable said. "Our international results were softer than anticipated, driven by ongoing weakness in our base business and lower contributions from emerging markets compared to last year.”