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OIS posts $86,000 in third-quarter income

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SACRAMENTO, Calif. — Ophthalmic Imaging Systems reported $86,000, or $0.00 per basic and diluted share, in net income for the third quarter, compared with a net loss of $416,000, or $0.02 per basic and diluted share, reported during the third quarter of 2008, the company announced in a press release.

The company posted $3.9 million in third-quarter net revenue, up 24% compared with $3.2 million reported during the same period last year. OIS attributed this growth to the positive upshot from a product sales spike of approximately $668,000, as well as a service revenue increase of approximately $91,000, according to the release.

As of Sept. 30, OIS had $4.8 million in cash and cash equivalents and $5.4 million in total shareholders' equity.

In addition, the company announced that its OIS EyeScan imaging device is currently undergoing a U.S. Food and Drug Administration review for marketing approval.

"Though not yet available, the OIS EyeScan is already highly anticipated among our customers," Gil Allon, CEO of OIS, said in the release.