PETALUMA, Calif.--(BUSINESS WIRE)--Oculus Innovative Sciences, Inc. (Nasdaq:OCLS) today announced financial results for the fiscal third quarter ended December 31, 2006. Revenue for the three months ended December 31, 2006 was $1.05 million, up 81% from $581,000 for the same period a year ago; higher in all segments but primarily attributable to higher sales to Mexican hospitals and pharmacies. Gross margins for the quarter were 28% compared to negative margins in the third quarter of the previous year. The improvement in gross margin resulted from higher revenue and a reduction of manufacturing expenses in Mexico. Operating expenses were $5.41 million for the third quarter of fiscal 2007, up from $4.62 million in the same period last year. The stock-based compensation charge for the three months ended December 31, 2006 was $790,000 compared to $224,000 for the same period last year. The third-quarter net loss from continuing operations was $4.83 million, or $(1.17) per share, compared with a net loss from continuing operations of $5.67 million, or $(1.35) per share, in the third quarter of fiscal 2006.
