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Synergetics reports revenue growth for fourth quarter

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O'FALLON, Mo.— Synergetics USA reported $14.5 million in revenue for the fourth quarter of fiscal 2008, a 9.5% increase over $13.2 million for the same period in fiscal 2007, the company announced in a press release. The increase was partially due to an 11% rise in ophthalmology sales.

Fourth-quarter net income totaled $1.2 million, or $0.05 per share, compared with a net income of $379,000, or $0.02 per share, reported during the fourth quarter of 2007.

For the fiscal year ended July 31, Synergetics reported $50.1 million in total revenue, representing a 9% rise compared with $45.9 million for fiscal 2007. The increase was partially driven by a 14% rise in ophthalmic product sales, including a price increase and sales growth for vitreoretinal instruments and laser probes.

Net income totaled $2.7 million, or $0.11 per diluted share, for the year compared with $845,000, or $0.03 per diluted share, for the fiscal year ended July 31, 2007.

As of July 31, the company's cash and cash equivalents totaled $500,000, representing a $333,000 increase compared with cash and cash equivalents as of July 31, 2007, according to the release.