PETALUMA, Calif.--(BUSINESS WIRE)--Oculus Innovative Sciences, Inc. (NASDAQ:OCLS): Oculus Innovative Sciences, Inc. (NASDAQ:OCLS) today announced financial and operating results for the third quarter of fiscal year 2009, ended December 31, 2008. During the quarter the company increased product revenue by 19% while instituting programs, which are expected to reduce future cash operating expenses by about $2.6 million per quarter starting this fourth fiscal quarter ending March 31, 2009, compared to last year, and improve the company’s gross margins from 69% to over 80%, starting in the quarter ending September 30, 2009.
