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Synergetics reports 18% rise in third-quarter revenue
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O'FALLON, Mo. — Synergetics USA posted $13.5 million in revenue for the third quarter of fiscal 2008, an 18% increase over $11.5 million in revenue for the same period in fiscal 2007, the company announced in a press release. This increase in revenue was partially driven by an 11.8% increase in ophthalmology sales, the release said.
Net income for the third quarter totaled $1.1 million, or $0.05 per share, compared with a net loss of $92,000, or $0.00 per share, for the same period last year. The company attributed the deficit primarily to a restructuring charge of approximately $85,000 associated with the merger of its Philadelphia manufacturing facility and its O'Fallon facility. Excluding the restructuring charge, net income would have been $1.2 million, a record for the company, the release said.
For the 9 months ended April 30, revenue totaled $35.6 million, a 9% rise compared with $32.7 million in the prior year's 9-month period. The increase was partially driven by a 15.6% increase in ophthalmology sales, the release said.
Net income was $1.5 million, or $0.06 per share, for the 9 months ended April 30, as compared with $0.5 million, or $0.02 per share, for the prior year's 9-month period.
As of April 30, the company's cash and cash equivalents totaled $138,000, essentially flat compared to cash and cash equivalents as of July 31, 2007, according to the release.