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Ophthalmic Imaging Systems posts fourth-quarter and full-year net loss

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SACRAMENTO, Calif. — Ophthalmic Imaging Systems reported a fourth-quarter net loss of $500,000, or $0.02 per basic and diluted share, compared with a net loss of $1.8 million, or $0.11 per basic and diluted share, for the same period in 2008, the company announced in a press release.

Fourth-quarter net income totaled $4.3 million, up 43.9% from $3 million during the fourth quarter the previous year. OIS attributed its revenue growth to a $1.1 million rise in product sales and a $200,00 increase in service sales.

For the full-year 2009, OIS posted a net loss of $5.5 million, or $0.25 per basic and diluted share, compared with a net loss of $2.9 million, or $0.18 per basic and diluted share, for the full-year 2008. OIS primarily credited the deficit to a $4.4 million impairment of debt stemming from its October acquisition of former parent company and current majority shareholder MediVision Medical Imaging.

Bolstered by increased product sales, full-year net revenue totaled $13.6 million, representing an 8.6% increase compared with $12.5 million in net revenue for 2008.

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