OIS Increases Net Income 30% in First Nine Months of 2006.Company Reports 20(th) Consecutive Profitable Quarter SACRAMENTO, Calif. -- Ophthalmic ophthalmic /oph·thal·mic/ (of-thal´mik) ocular (1). oph·thal·mic adj. Of or relating to the eye; ocular. Ophthalmic Pertaining to the eye. Imaging Systems (OIS Noun 1. OIS - agency that oversees the intelligence relationships of the Treasury's offices and bureaus and provides a link between the Intelligence Community and officials responsible for international economic policy Office of Intelligence Support ) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :OISI OISI Office of Industrial Security, International ) today reported record financial results for the third quarter and nine months ended September 30, 2006. For the quarter ended September 30, 2006, OIS reported an increase in net revenues of 16% to $3,927,000, compared with net revenue of $3,390,000 for the same period of 2005. Net income for the third quarter of 2006 climbed 18% to $607,000, or $0.04 per basic and $0.03 per diluted share compared with net income of $516,000, or $0.03 per basic and diluted share for the third quarter of 2005. For the first nine months of 2006, the Company reported net revenues of $11,395,000 compared with net revenues of $9,508,000 for the first nine months of 2005, an increase of 20%. Net income for the first nine months of 2006 increased 30% to $1,627,000, or $0.10 per basic and $0.09 per diluted share compared with net income of $1,256,000, $0.08 per basic and diluted share for the first nine months of 2005. "We continue to experience strong growth in our digital imaging business through the first three quarters of fiscal 2006. During the third quarter we increased sales and marketing efforts aimed at broadening our solutions to a larger client base. This includes offering our advanced digital imaging products through our exclusive partnership with the International Vision Network, announced during the second quarter," stated Gil Allon, Chief Executive Officer of OIS. "We continue to increase our selling, general and administrative spending as we expand our sales force and gain traction for our growing line of digital imaging and informatics Same as information technology and information systems. The term is more widely used in Europe. offerings." "This is an exciting time for the company and we anticipate a strong fourth quarter, typically our strongest period. We also expect a strong impact resulting from our exhibit at the upcoming American Academy of Ophthalmology The American Academy of Ophthalmology (AAO) is a medical association of ophthalmologists–medical doctors (MDs) specializing in eye care and surgery). The group is based in San Francisco, California. annual meeting in mid November." About Ophthalmic Imaging Systems Ophthalmic Imaging Systems (www.oisi.com), a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of MediVision, is the leading provider of ophthalmic digital imaging systems. The Company designs, develops, manufactures and markets digital imaging systems and informatics solutions for the eye care market. With over twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. in the ophthalmic imaging business, the Company has consistently introduced new, innovative technology. The Company, together with MediVision, co-market and support their products through an extensive network of dealers, distributors, and direct representatives. OIS is a registered member Company listed on www.OTCVillage.com. Statements in this press release which are not historical data are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which involve known and unknown risks, uncertainties, or other factors not under the Company's control, which may cause actual results, performance, or achievements of the Company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission [TABLE OMITTED] |
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