(Source: PrimeNewswire)ORANGEBURG, N.Y., Aug. 14, 2009 (GLOBE NEWSWIRE) -- Vision-Sciences, Inc., (Nasdaq:VSCI) (Vision-Sciences) today announced results for its fiscal year 2010 first quarter ended June 30, 2009 (Q1 10). For Q1 10, revenues were $3.3 million, an increase of $622 thousand, or 23%, over our fiscal year 2009 first quarter ended June 30, 2008 (Q1 09). Loss from operations in Q1 10 was $2.5 million, compared to $3.2 million in Q1 09, a decrease of $761 thousand.

Abbreviated results (in '000), except for per share data, for Q1 10 compared to Q1 09 are as follows:

                                 Q1 10      Q1 09    Difference     %                               -------    -------    -------   -------  Sales                        $ 3,318    $ 2,696    $   622       23%  Loss from operations          (2,480)    (3,241)       761      -23%  Net loss                      (2,468)      (143)    (2,325)      NM*  Net loss per diluted share   $ (0.07)   $    --    $ (0.07)      NM*   * NM = Not Meaningful   Please refer to the attached balance sheet and profit & loss statement  for more detail. 

The decrease in loss from operations of $761 thousand from Q1 09 to Q1 10 is mainly attributable to a reduction in selling, general and administrative expenses of $209 thousand and a reduction of research and development expenses of $385 thousand.

Our net loss for Q1 10 was $2.5 million, or $0.07 per diluted share, compared to a net loss of $143 thousand which had no appreciable per share impact in Q1 09. Our net loss for Q1 10 was higher than our net loss in Q1 09 primarily due to the fact that during Q1 09 we received payments and recognized an associated gain totaling $3.2 million (net of expenses) due to us from Medtronic Xomed Inc. (Medtronic) for the sale of our ENT (ear-nose-throat) EndoSheath(r) disposable product line to them in March 2007.

Medical sales grew from $2.0 million in Q1 09 to $2.6 million in Q1 10, or by 30%, and industrial sales for the same period grew from $696 thousand to $713 thousand, or by 2%. Within medical sales:

    * ENT and TNE (trans-nasal esophagoscopy) sales grew from $695    thousand to $1.2 million, or by 71%;  * Urology sales grew from $698 thousand to $738 thousand, or by 6%;  * Bronchoscopy sales were $196 thousand in Q1 10 (our video    bronchoscope was launched at the end of Q1 10); and,  * Repair, peripheral and accessories sales decreased from $607    thousand to $484 thousand, or by 20%. 

Net sales detail (in '000) for Q1 10 compared to Q1 09 are as follows:

                                  Q1 10      Q1 09   Difference     %                               -------    -------    -------   -------  Medical Sales    ENT and TNE                $ 1,187    $   695    $   492       71%    Urology                        738        698         40        6%    Bronchoscopy                   196         --        196      100%    Repair, peripheral &     accessories                   484        607       (123)     -20%                               -------    -------    -------   -------    Total Medical                2,605      2,000        605       30%  Industrial Sales             $   713    $   696    $    17        2%                               -------    -------    -------   -------  Total Sales                  $ 3,318    $ 2,696    $   622       23%                               =======    =======    =======   ======= 

Ron Hadani, our President and CEO, stated, "This quarter's increase in medical sales represents revenue growth across ENT/TNE, urology and our newly launched video bronchoscopy line. Our ENT/TNE revenue benefitted from the introduction of our new family of fiberscopes, the 4000 Series, the first model of which was released to the ENT market during Q1 10. The launch of our new video bronchoscopy line, the BRS-5000, used by pulmonologists and other physicians for airway management, has been well received in the market, and our urology revenue continues to increase.