ORANGEBURG, N.Y., Nov. 11, 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 second quarter and first half of fiscal year 2014, ended September 30, 2013.
Second Quarter Fiscal Year 2014 Highlights
- Net sales increased 6% to $4.0 million compared with $3.7 million in the second quarter of fiscal 2013;
- On a sequential basis, net sales increased 9% compared with $3.7 million in the first quarter of fiscal 2014;
- Operating loss improved 51% to $1.3 million compared to $2.6 million in the same quarter last year; and
- Net loss improved by 69% to $1.3 million, or ($0.03) per basic and diluted share, compared to $4.3 million, or ($0.09) per basic and diluted share, in the same quarter last year.
First Half of Fiscal Year 2014 Highlights
- Net sales increased 7% to $7.6 million compared with $7.1 million in the first half of fiscal 2013;
- Operating loss improved by 25% to $3.7 million compared to $4.9 million in the same period last year; and
- Net loss improved by 46% to $3.8 million, or ($0.08) per basic and diluted share, compared to $6.9 million, or ($0.15) per basic and diluted share, in the same period last year.
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