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Ophthalmic Imaging Systems reports net loss for third quarter

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SACRAMENTO, Calif.— Ophthalmic Imaging Systems reported a net loss of $238,763, or $0.01 per share, for the third quarter, compared with a net income of $343,624, or $0.02 per share, for the third quarter of 2007, the company announced in a press release.

The company reported $3.17 million in third-quarter revenues, up slightly from $3.16 million in revenue reported during last year's third quarter, according to the release. The company attributed the slight increase to a decrease of product sales in the third quarter of approximately $143,000, offset by an increase in service revenue of approximately $160,000, the release said.

Gross margins were approximately 56% in the third quarter, compared with 58% during the same period of 2007. The company primarily attributed the deficit to a combined decline in product sales and an increase in fixed overhead costs related to the formation of subsidiary Abraxas Medical Solutions, the release said.