This Day On The Street
Continue to site
ADVERTISEMENT
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

Vision-Sciences Announces Revenue Of $4.2 Million For Fourth Quarter And $15.3 Million For Full Year Fiscal 2013

ORANGEBURG, N.Y., April 29, 2013 (GLOBE NEWSWIRE) -- Vision-Sciences, Inc. (Nasdaq:VSCI), a leading provider of unique flexible endoscopic products utilizing its proprietary sterile disposable EndoSheath® technology, today announced financial results for its fourth quarter and fiscal year 2013, ended March 31, 2013.

Fourth Quarter Fiscal Year 2013 Highlights
  • Net sales were $4.2 million, compared with $4.0 million in the third quarter of fiscal 2013 and $4.6 million in the fourth quarter of fiscal 2012;
  • Operating loss decreased 29% to $2.0 million compared to $2.8 million in the same quarter last year; and
  • Net loss improved by 34% to $2.0 million, or ($0.04) per basic and diluted share, compared to $3.1 million, or ($0.07) per basic and diluted share, in the fourth quarter of fiscal 2012.

Fiscal Year 2013 Highlights
  • Net sales were $15.3 million, compared with $16.7 million in fiscal 2012;
  • Operating loss decreased 17% to $8.4 million compared to $10.1 million last year; and
  • Net loss improved by 5% to $10.5 million, or ($0.23) per basic and diluted share, compared to $11.0 million, or ($0.25) per basic and diluted share, in fiscal 2012.
  • Excluding the loss on extinguishment of debt, non-GAAP net loss for fiscal 2013 was $9.3 million, or ($0.20) per basic and diluted share, an improvement of 16% over fiscal 2012.

"2013 was a rebuilding year for Vision-Sciences and marked the implementation of our new strategy to focus primarily on the acute-care hospital and bariatric markets, where our value proposition resonates the most," commented Cynthia Ansari, President and Chief Executive Officer of Vision-Sciences, Inc. "Our relevance and acceptance has increased in these markets, our sales pipeline is robust, and our average selling price continues to grow. This strong foundation should enable Vision-Sciences' growth in fiscal 2014 and beyond."

1 of 5

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
Only $9.95
14-Days Free
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
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs