NEW YORK (TheStreet) -- Shares of Synergetics USA (SURG) are down -9.59% to $3.11 on Tuesday after it reported lower results for its third quarter ended April 30.
The medical device maker posted net income of 4 cents per diluted share, compared to 5 cents per diluted share in the same period a year ago.
Revenue fell to $16.1 million from $16.3 million a year ago.
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Synergetics said sales in the U.S. decreased 1.9%, particularly for ophthalmic products.
TheStreet Ratings team rates SYNERGETICS USA INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SYNERGETICS USA INC (SURG) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."