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TheStreet Open House

Vision-Sciences Reports Net Sales Of $4.0 Million For Third Quarter Of Fiscal 2013

Stocks in this article: VSCI

Net sales (in thousands, except for percentages) for the three- and nine-month periods were as follows:

  Three Months Ended   Nine Months Ended  
  December 31,   December 31,  
Market/Category 2012 2011 % 2012 2011 %
Urology   $ 1,421  $ 1,839 -23%  $ 3,365  $ 5,251 -36%
ENT  398  500 -20%  1,417  1,430 -1%
Surgery / GI  385  340 13%  895  765 17%
Pulmonology (Critical Care)  238  254 -6%  525  563 -7%
Spine  --   186 -100%  440  612 -28%
Repairs, peripherals, and accessories   528  449 18%  1,548  1,436 8%
Total net medical sales  2,970  3,568 -17%  8,190  10,057 -19%
Total net industrial sales  982  746 32%  2,897  2,038 42%
Net sales  $ 3,952  $ 4,314 -8%  $ 11,087  $ 12,095 -8%

Gross profit for the third quarter of fiscal 2013 was $1.1 million, as compared with $1.4 million in the third quarter of fiscal 2012. Gross margin percentage for the period declined approximately 200 basis points to 29% from 31% in the same period last year. A reduction in the allocation of manufacturing expenses to support research and development activities was the primary driver for the year-over-year decline.

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