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Ophthalmic Imaging Systems narrows loss, reports 64% revenue swell
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SACRAMENTO, Calif. — Ophthalmic Imaging Systems announced a second-quarter net loss of $488,000, or $0.02 per share, compared with a net loss of $4 million, or $0.23 per share, for the second quarter of 2009.
Second-quarter net revenue, which benefitted from robust product sales, totaled $4.8 million — up 64% from $2.9 million reported during last year's second quarter, according to a press release from the company.
Operating expenses totaled $3.2 million for the quarter, compared with $6.6 million reported for the comparable period last year.
"Informatics sales industry-wide are expected to grow 30% this year, with a particularly strong contribution from the EMR segment, due to favorable market dynamics such as escalating labor costs, declining reimbursements, increasing regulations and spiraling medical-error legal suits," Gil Allon, CEO of OIS, said in the release. "Additionally, adoption of informatics solutions should accelerate following last month's release of the final rule of Meaningful Use of Electronic Health Records under the American Recovery and Reinvestment Act of 2009."
Gross margin, which benefitted from sales of high-margin software, reached 60% for the second quarter, up from 51% during last year's second quarter.
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