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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Vision-Sciences Announces Revenue Of $4.5 Million For Third Quarter And $12.1 Million For First Nine Months Of Fiscal 2014

ORANGEBURG, N.Y., Feb. 3, 2014 (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 the third quarter and first nine months of fiscal year 2014, ended December 31, 2013.

Third Quarter Fiscal Year 2014 Highlights

  • Net sales increased by 14% to $4.5 million compared with $4.0 million in the third quarter of fiscal 2013;
  • On a sequential basis, net sales increased by 14% compared with $4.0 million in the second quarter of fiscal 2014;
  • Operating loss improved by 3% to $1.5 million compared to the same quarter last fiscal year;
  • Net loss improved by 1% to $1.6 million, or ($0.03) per basic and diluted share, compared to the same quarter last fiscal year;
  • Positive outcomes of a clinical study that evaluated the durability and microbial barrier properties of EndoSheath ® technology in the flexible cystoscopy setting were published in the peer-reviewed journal BMC Urology;
  • Launched an authorized fiber and video endoscope repair center for Europe; and
  • Selected as preferred vendor for endoscopy equipment by 21st Century Oncology.

First Nine Months of Fiscal Year 2014 Highlights

  • Net sales increased by 9% to $12.1 million compared with $11.1 million in the first nine months of fiscal 2013;
  • Operating loss improved by 20% to $5.2 million compared to $6.5 million in the same period last fiscal year; and
  • Net loss improved by 37% to $5.3 million, or ($0.12) per basic and diluted share, compared to $8.5 million, or ($0.18) per basic and diluted share, in the same period last fiscal year.

"I am pleased with the revenue growth we achieved this quarter on both a year-over-year and sequential basis," commented Howard Zauberman, President and Chief Executive Officer of Vision-Sciences, Inc. "Our relationship with Stryker remains strong and we are pleased with their growth in ureteroscope placements, which continues to be a key driver of our revenues. We expect revenue growth in coming quarters will be consistent with the last nine months as we complete our turnaround, and seek to reduce our operating loss on a go-forward basis."

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,735.25 -145.11 -0.86%
S&P 500 1,953.79 -16.28 -0.83%
NASDAQ 4,418.8970 -44.0050 -0.99%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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