MAR 18, 2013
Synergetics USA announced a net loss of $1.38 million for the second quarter ended Jan. 31, compared to a net income of $1.87 million in the same quarter last year.
"We were disappointed with our second quarter performance on both the top and bottom line," said Dave Hable, president and CEO of Synergetics. "Earnings performance was impacted by the combination of slower sales growth and lower margins due primarily to the measures we took to improve our inventory position this quarter."
Net sales dropped seven percent to $14.1 million. This decline was primarily due to a decline in OEM and ophthalmic sales, company officials said. Ophthalmic sales were $8.7 million for the quarter, compared to $8.9 million in the same quarter last year, though the company notes the decline partially was countered by new sales related to its new vitrectomy machine, VersaVIT. OEM sales fell 13 percent to $5.2 million.