Synergetics USA, Inc. (NASDAQ: SURG), a medical device company that designs, manufactures, and markets innovative surgical devices for ophthalmic and neurosurgical applications, reported growth in sales, gross margin, income from continuing operations and net income for the first quarter ended October 31, 2011.
The Company reported first quarter fiscal 2012 sales rose 12.0% to $13.5 million and net income from continuing operations increased 81.3% to $1.2 million, or $0.05 per diluted share, compared with the first quarter of fiscal 2011. Loss from discontinued operations for the first quarter of fiscal 2012 was $382,000, or $0.02 per diluted share. Net income increased 21.8% to $771,000, or $0.03 per diluted share, compared with the first quarter of fiscal 2011.
�Our record first quarter results benefited from the continued demand for Synergetics� ophthalmic and neurosurgical products across all major market segments,� stated Dave Hable, President and CEO of Synergetics USA, Inc. �Sales of ophthalmic products rose 10.0% to $8.8 million and OEM sales were up 26.4% to $4.5 million compared with the first quarter of last year. New product sales, including the VersaPACK� that was launched in fiscal 2011, continued to gain sales momentum. Our disposable product sales were also a major contributor to the quarter�s growth and accounted for 82% of total first quarter sales.�
VersaVIT is Synergetics� first product for the vitrectomy machine market and represents a new concept in retinal surgery with its highly portable design. It is ideally suited for ambulatory surgery centers, as a traveling unit for satellite offices and potentially for in-office procedures. UVE is a high-speed vitrectomy enhancement system that is designed to boost significantly the cutting speed of the market�s leading vitrectomy machine. UVE is priced at a fraction of the cost of the latest generation of high-speed vitrectomy machines and utilizes existing surgical packs for the market leading vitrectomy machine, including Synergetics� VersaPACK�.
Synergetics USA, Inc. is a leading supplier of precision surgical devices. The Company�s primary focus is on the disciplines of ophthalmology and neurosurgery. Our distribution channels include a combination of direct and independent sales distribution organizations and important strategic alliances with market leaders. The Company�s product lines focus upon precision engineered, disposable and reusable devices, procedural kits and the delivery of various energy modalities for the performance of less invasive surgery including: (i) laser energy, (ii) ultrasonic energy, (iii) radio frequency energy for electrosurgery and lesion generation and (iv) visible light energy for illumination, and where applicable, simultaneous infusion (irrigation) of fluids into the operative field.
More about SURG at www.synergeticsusa.com.
Global Hunter (GBLHF.PK)
Global Hunter’s focus is on strategic and base metals, with an advanced stage copper oxide project in Chile and a highly prospective molybdenum property in British Columbia, Canada. GBLHF teams are working on developing the Corona de Cobre property in Chile and the Rabbit south property in British Columbia.
La Corona de Cobre, Chile:
+18,000 hectare land package in coastal belt of Andean Cordillera of Chile on the Atacama Fault Zone.(”Chilean Iron-Copper Belt”)
Project Highlights
- Copper oxide deposit, leachable
- Existing NI 43-101 Resource Estimate (225 million pounds of copper)
- Management with proven track record
- Highly qualified technical team
- Low operating costs of appr. $ 1.00/lb (preliminary calculation)
- Substantial upside potential (resource covers less than 0.1% of total area)
Rabbit South, British Columbia:
1,900 hectare land package between two of British Columbia’s most successful copper mines (Afton and Highland Valley)
Project Highlights
- 1,900 hectares 26km from Kamloops, British Columbia, between the Afton and Highland Valley copper mines
- 86 holes drilled on property from 1979 to 2005
- Two large target areas identified
- Recent drilling confirms presence of wide-spread near-surface molybdenum mineralization
Copper and its alloys are widely used in deep draw and flat stamped products because they have excellent electrical and thermal performance, good resistance to corrosion, high ductility and relatively low cost. Copper is non-magnetic, non-sparking and non-bacterial. Because it is low in the reactivity series, it is slow to corrode. With medium strength and high fatigue resistance, copper and its alloys are primary metals for electrical applications.
Copper has a density of 8.94 g/cm3, or .323 lb/cu.in., elastic modulus of 115 GPa, or 17x 10 6 psi , and melting temperature 1083° C, or 1981° F. With a thermal conductivity of about 231 BTU/ (hr-ft- deg F), it is 30 times more conductive than steel.
For more information please visit official website of GBLHF.PK: www.globalhunter.ca/homeabout.html
Duke Realty Corporation (NYSE:DRE) announced that it has completed the previously announced disposition of a suburban office portfolio located in seven of its markets across the Midwest and Southern United States. The final composition of the portfolio included approximately 9.8 million square feet and 79 buildings. An affiliate of Blackstone Real Estate Partners VII purchased the portfolio, which includes substantially all of the company’s wholly-owned office properties in Atlanta, Chicago, Columbus, Dallas, Minneapolis, Orlando and Tampa, for a total purchase price of $1.06 billion. These assets were encumbered by mortgage loans having an aggregate principal balance of $24.9 million as of September 30, 2011.
Duke Realty owns and operates more than 143 million rentable square feet of industrial and office, including medical office, space in 18 major U.S. cities. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index.
LDK Solar Co., Ltd. (NYSE:LDK), a leading vertically integrated manufacturer of photovoltaic products, announced the closing of the first tranche of its PRC domestic notes in the aggregate principal amount of RMB500,000,000 , issued by its PRC subsidiary, Jiangxi LDK Solar Hi-Tech Co., Ltd., with a fixed interest rate of 6.8% per annum. LDK Solar intends to use the net proceeds of the offering to replace its short-term debts.
LDK Solar Co., Ltd. is a leading vertically integrated manufacturer of photovoltaic (PV) products. LDK Solar manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions.
Danaher Corporation (NYSE:DHR) announced that it has signed a definitive agreement to sell its Kollmorgen Electro-Optical (KEO) business to L-3 Communications, a prime contractor, and a leading provider of a broad range of electronic systems used on military and commercial platforms. Danaher`s KEO business designs and manufactures periscope and optronic mast systems. Upon closing, L-3 will pay Danaher an aggregate cash purchase price of $210 million, subject to certain adjustments. In 2010, the KEO business had revenues of approximately $169 million.
Danaher is a science and technology leader that designs, manufactures, and markets innovative products and services to professional, medical, industrial, and commercial customers.
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