Synergetics posts slight decline in first-quarter sales

O'FALLON, Mo. — Synergetics USA reported $12.1 million in sales for the first quarter of its fiscal year, down 0.8% from $12.2 million reported during last year's first quarter, the company announced in a press release.

Synergetics partly attributed the decline to lower sales from its capital equipment product lines, as well as lower domestic ophthalmic sales, the release said.

First-quarter net income totaled $542,000 compared with a net income of $661,000 reported during the previous first quarter.

Despite the company's sales deficit, ophthalmic sales rose 1.9% to $7.5 million, largely due to a higher volume of disposable products in both domestic and international markets. Specifically, international ophthalmic sales rose 10.2% for the quarter, while domestic ophthalmic sales declined 3.1%.

First-quarter gross profit margin was 56.1%, compared with 57.8% reported a year ago. The company attributed the deficit to a trend toward higher international sales, as well as the decreased absorption of both labor and overhead on its capital equipment product lines, the release said.