This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

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,    
  2010 2009 Difference %
Net sales  $ 2,632  $ 3,318  $ (686) -21%
Loss from operations  (2,387)  (2,480)  (93) -4%
Net loss  (2,469)  (2,468)  (1) 0%
Net loss per share - basic and diluted  $ (0.07)  $ (0.07)  $ --  0%

Please refer to the attached balance sheet and statement of operations for more detail.

The decrease in operating loss of $0.1 million in the first quarter of fiscal 2011 was primarily attributable to lower research and development ("R&D") expenses of $0.2 million. Net loss for the first quarter of fiscal 2011 was flat at $2.5 million, or $0.07 per basic and diluted share, compared to the first quarter of fiscal 2010.   

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
VSCI $0.45 -2.60%
AAPL $129.04 -0.25%
FB $80.08 0.60%
GOOG $573.00 -0.11%
TSLA $199.26 -0.15%


DOW 18,131.35 -72.02 -0.40%
S&P 500 2,099.15 -8.63 -0.41%
NASDAQ 4,969.1110 -10.79 -0.22%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs