NEW YORK (TheStreet) -- Oculus Innovative Sciences (OCLS) shares are up 3.47% to $1.73 in pre-market trading on Friday after the company released its fourth quarter earnings results after the closing bell yesterday.
The Petaluma, CA-based company reported that fourth quarter revenue grew 37% to $4 million from $2.9 million a year ago.
The company also reported a net loss of 11 cents per diluted share, also topping analysts' 19 cent per share loss expectations.
"We are pleased with the progress we are making as a company, which is evidenced with our solid fourth quarter results. Going forward, we will continue to implement three key initiatives that we believe will return us to strong overall revenue growth in conjunction with the continued high growth of our international business," said CEO Jim Schutz.
TheStreet Ratings team rates OCULUS INNOVATIVE SCIENCES as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate OCULUS INNOVATIVE SCIENCES (OCLS) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."