Synergetics USA Inc. announced the signing of an addendum to its three year agreement with Codman & Shurtleff Inc. Under the terms of the revised agreement, Codman will have the exclusive right to market and distribute a Spetzler-Malis branded disposable bipolar forceps produced by Synergetics.

Synergetics USA Inc. reported consolidated earnings results for the fourth quarter and full year ended July 31, 2009. For the quarter, the company reported sales of $13.9 million were the highest quarterly sales in the past year; however, sales were down 3.8% from $14.5 million reported in the fourth quarter of 2008. The decrease in fourth quarter sales from last year was due primarily to lower sales to marketing partners compared with the prior year. Operating income was $176,000 compared with $2.0 million in the fourth quarter last year. Net income was $87,000 or $0.00 per diluted share compared with net income of $1.2 million or $0.05 per diluted share in 2008. Income before provision for income taxes was $41,000 compared to $1,819,000 for the same period of last year. For the year, the company reported net sales of $53.0 million, up 5.8% compared with $50.1 million in fiscal 2008. The increase in sales of 5.8% was due to higher volume of disposable products in domestic and international markets, higher disposable product sales through marketing partners, offset by weaker capital equipment sales. Net income decreased 40.1% to $1.6 million or $0.07 per diluted share compared with $2.7 million or $0.11 per diluted share in fiscal 2008. The fiscal 2009 results included a fourth quarter charge of $975,000, or $0.03 per diluted share, as previously mentioned. Operating income was $3,125,000 compared to $5,208,000 for the same period of last year. Income before provision for income taxes was $2,370,000 compared to $4,102,000 for the same period of last year.

Synergetics USA, Inc., Q4 2009 Earnings Call, Oct 29 2009