Message #13 From:
Stock News Bot Date: November 6, 2006 05:30:00 AM
OISI News OIS Increases Net Income 30% in First Nine Months of 2006
SACRAMENTO, Calif.--(BUSINESS WIRE)--Ophthalmic Imaging Systems (OIS) (OTCBB:OISI) today reported record
financial results for the third quarter and nine months ended September
30, 2006.
For the quarter ended September 30, 2006, OIS reported an increase in
net revenues of 16% to $3,927,000, compared with net revenue of
$3,390,000 for the same period of 2005. Net income for the third quarter
of 2006 climbed 18% to $607,000, or $0.04 per basic and $0.03 per
diluted share compared with net income of $516,000, or $0.03 per basic
and diluted share for the third quarter of 2005.
For the first nine months of 2006, the Company reported net revenues of
$11,395,000 compared with net revenues of $9,508,000 for the first nine
months of 2005, an increase of 20%. Net income for the first nine months
of 2006 increased 30% to $1,627,000, or $0.10 per basic and $0.09 per
diluted share compared with net income of $1,256,000, $0.08 per basic
and diluted share for the first nine months of 2005.
“We continue to experience strong growth in
our digital imaging business through the first three quarters of fiscal
2006. During the third quarter we increased sales and marketing efforts
aimed at broadening our solutions to a larger client base. This includes
offering our advanced digital imaging products through our exclusive
partnership with the International Vision Network, announced during the
second quarter,” stated Gil Allon, Chief
Executive Officer of OIS. “We continue to
increase our selling, general and administrative spending as we expand
our sales force and gain traction for our growing line of digital
imaging and informatics offerings.”
“This is an exciting time for the company and
we anticipate a strong fourth quarter, typically our strongest period.
We also expect a strong impact resulting from our exhibit at the
upcoming American Academy of Ophthalmology annual meeting in mid
November.”
About Ophthalmic Imaging Systems
Ophthalmic Imaging Systems (www.oisi.com), a majority-owned subsidiary
of MediVision, is the leading provider of ophthalmic digital imaging
systems. The Company designs, develops, manufactures and markets digital
imaging systems and informatics solutions for the eye care market. With
over twenty years in the ophthalmic imaging business, the Company has
consistently introduced new, innovative technology. The Company,
together with MediVision, co-market and support their products through
an extensive network of dealers, distributors, and direct
representatives.
Statements in this press release which are not historical data are
forward-looking statements which involve known and unknown risks,
uncertainties, or other factors not under the Company's control, which
may cause actual results, performance, or achievements of the Company to
be materially different from the results, performance, or other
expectations implied by these forward-looking statements. These factors
include, but are not limited to, those detailed in the Company's
periodic filings with the Securities and Exchange Commission
