US-Israeli Ophthalmic Imaging Systems Inc. (Bulletin Board: OISI) posted $4.8 million revenue for the second quarter, 64% more than the $2.9 million for the corresponding quarter of 2009, and 15% more than the $4.1 million revenue for the preceding quarter. The company attributed the growth to higher products sales
OIS's largest shareholder is Accelmed, headed by Moshe Arkin and Dr. Uri Geiger.
OIS slashed its operating loss to $378,000 for the second quarter from $5.1 million for the corresponding quarter. Net loss was narrowed nine-fold to $488,000 ($0.02 per share) from $4 million for the corresponding quarter.
OIS CEO Gil Allon pointed to the company's growing market, and said that the company was well positioned to participate in this growth. "We also were pleased with the initial OIS EyeScan sales," he said, adding that the cost-effective portable digital imaging device, which can image both the anterior and posterior segments of the eye, enables the company to expand in the US and internationally. "We are conducting direct sales in the U.S. and direct sales through our German subsidiary and our European sales branch in Belgium. We also have established distribution agreements for many European, Asian and Latin American countries."
OIS's share closed at $0.95 yesterday, giving a market cap of $25 million.
Published by Globes [online], Israel business news - www.globes-online.com - on August 10, 2010
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