Synergetics USA, Inc. Announces Record Second Quarter Revenue for Fiscal 2008

O'FALLON, Mo.--(BUSINESS WIRE)--Synergetics USA, Inc. (NASDAQ: SURG) reported revenue of $11.6 million. Sales to OEM customers, Stryker Corporation and Codman & Shurtleff, Inc., impacted sales dramatically. Stryker sales were off over 80 percent or $529,000 compared to the second fiscal quarter last year. The Company is between generator models with Stryker, which resulted in essentially no sales during the first six months of fiscal 2008. Sales to Stryker are expected to dramatically improve beginning in the third quarter and continuing into fourth quarter and next year. Sales to Codman during the second quarter of fiscal 2008 were also down significantly as compared to the prior year period. During the prior year, Codman was building inventory. The prior year inventory build has resulted in a decrease in sales to Codman during the second quarter of fiscal 2008 and therefore, a drop in revenues from Codman of 28.3 percent or $450,000 as compared to the second fiscal quarter last year.
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