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Synergetics USA posts 17% revenue increase in first quarter

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O'FALLON, Mo. — Synergetics USA reported $12.2 million in revenue for the first quarter of the 2009 fiscal year, a 17% increase compared with $10.5 million during the same period last year, according to a press release from the company.

There was a 66% increase in net income for the first quarter compared with a year ago: $661,000, or $0.03 per share, as compared with $397,000, or $0.02 per share.

Ophthalmic sales increased by 16% in the first quarter as compared with a year ago, with domestic ophthalmic sales increasing by 7.1% and international sales increasing by 34.8%. This increase can be attributed to reorganization in domestic sales management and a return on the investment in a direct international sales force, the release said.

New products, particularly capital equipment products in the ophthalmic and neurosurgery markets, accounted for approximately 21% of total sales for Synergetics in the 3 months ended Oct. 29.