Vision-Sciences, Inc. Announces $2.6 Million In Revenue For The First Quarter Of Fiscal 2011
ORANGEBURG, N.Y., Aug. 11, 2010 (GLOBE NEWSWIRE) -- Vision-Sciences, Inc. (Nasdaq:VSCI) today announced results for its first quarter of fiscal 2011, ended June 30, 2010. For the first quarter of fiscal 2011, revenues were $2.6 million, a decrease of $0.7 million, or 21%, from the first quarter of fiscal 2010, ended June 30, 2009, primarily due to lower sales of ENT ("ear, nose and throat") fiberscopes to Medtronic. These same revenues represent an increase of $0.6 million, or 31% sequential growth, compared to the fourth quarter of fiscal 2010, ended March 31, 2010. Loss from operations in the first quarter of fiscal 2011 was $2.4 million compared to $2.5 million in the first quarter of fiscal 2010, a decrease of $0.1 million.
Warren Bielke, our interim Chief Executive Officer, stated, "We are pleased with our first quarter results relative to our fourth quarter as it reflects our continued effort with driving top-line revenue growth and improving our margins. Sequential revenue growth of 31% is a good indicator of the progress we are making with selling our endoscopes to teaching hospitals and academic institutions."
Abbreviated results (in thousands, except for per share data and percentages) for the first quarter of fiscal 2011 and 2010 were as follows:
|Three Months Ended June 30,|
|Net sales||$ 2,632||$ 3,318||$ (686)||-21%|
|Loss from operations||(2,387)||(2,480)||(93)||-4%|
|Net loss per share - basic and diluted||$ (0.07)||$ (0.07)||$ --||0%|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV