JUN 14, 2013
Synergetics reported total sales of $16.3 million for the quarter ended April 30, an increase of 11.6 percent compared with the quarter ended a year earlier, while ophthalmic sales for the quarter were up 3.1 percent to $8.7 million. Nine-month sales for the fiscal year increased 4.1 percent to $44.9 million.
Domestic sales increased 13.8 percent to $12.3 million for the quarter, driven in part by growth in domestic ophthalmic sales. International sales were up 5.3 percent to $3.9 million, primarily due to increased sales of VersaVIT vitrectomy systems and procedural kits and decreased foreign currency losses.
"While still early in our commercialization of the VersaVIT system, we have made considerable progress since receiving FDA approval less than a year ago," said David M. Hable, Synergetics' president and CEO. "We are encouraged by the continued strong market response and anticipate stronger ophthalmic sales growth in the future as utilization of the installed base increases."
Ophthalmic sales increased 3.1 percent to $8.7 million for the quarter compared with the third quarter of fiscal 2012. Domestic ophthalmic sales increased 1.6 percent and international ophthalmic sales increased 5.1 percent.
Reported net income for the quarter increased 14.3 percent compared to $1.2 million for the third quarter of fiscal 2012.