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Synergetics reports drop in quarterly, yearly net incomes

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Synergetics USA reported a net income of $1.44 million in the fourth quarter, down 25.9% from $1.94 million in the same quarter last year, according to a news release.

For the fiscal year ended July 31, net income was $2.56 million, down 54.2% from $5.59 million in the previous fiscal year.

Total sales for the quarter were $17.9 million, up 5.9% over the same quarter last year. Total sales for the year were $62.8 million, up 4.6% over the previous year.

Quarterly ophthalmic sales increased to $9.4 million from $9.2 million, led by a 4.4% gain domestically due to increased sales of VersaVIT vitrectomy systems. Quarterly international ophthalmic sales increased 1.3% from the previous year.

Total operating expenses increased 9%, sales and marketing expenses increased 13.5%, and general expenses increased 3.9% for the quarter. Research and development expenses decreased 2.6%.