July 8, 2008
Synergetics USA Sets Stage for Revenue Growth With Reorganization of Field Sales Force
Synergetics USA, Inc. (NASDAQ: SURG), a leading microsurgery company that designs, manufactures, and markets medical devices for use primarily in ophthalmic surgery and neurosurgery, announced today the initiation of a field sales operations reorganization. The move, designed to poise the Company to attain increased revenues and market share, is in keeping with Synergetics' stated ongoing operational improvement initiatives.
Commenting on the changes, Dave Dallam, Executive Vice President of Sales and Marketing for Synergetics USA, Inc. stated, "In keeping with our objectives for growth and greater performance, we undertook a comprehensive study of our sales and marketing structure. As a result we are developing an improved sales training system, implementing higher recruitment standards, and carefully aligning individual objectives and compensation structures with a defined sales process. Going forward, we expect to substantially increase the size and quality of our field sales organization as we seek to strengthen our surgeon relationships and prepare for the successful deployment of a large number of new products currently in development."Dallam continued, "This process will also include significant changes to the structure of our sales management team, their compensation plans, as well as changes to our internal sales administrative process to better align with our marketing organization. We anticipate having most of these changes initiated by August as we enter our new fiscal year and expect expansion and process improvements to continue throughout the upcoming year. Successful cost savings initiatives already in place are expected to fund a portion of our investment in this sales force expansion and will continue to do so as we roll out our programs."
Gregg D. Scheller, Chairman, President and Chief Executive Officer of Synergetics USA, Inc., stated, "We are all very excited about this important and continued evolution of our Company into a more professional sales and marketing organization under Dave Dallam's guidance. Combining this strength with our core technological competencies allows us to further sharpen our competitive advantage. As a result, we are looking for strong growth in revenues, net income, and improved cash flow as our new sales initiatives begin to gain traction."
About Synergetics USA, Inc.
Synergetics USA is a leading medical device company focused on progressing the standard of care for microsurgeons and their patients by seeking to improve surgical patient outcomes through the delivery of innovative improvements in quality, delivery and cost. The Company focuses on the vitreoretinal, neurosurgery and ear, nose and throat surgery markets. The distribution channels include a combination of direct and independent sales organizations, and important strategic alliances with market leaders.
Some statements in this release may be "forward-looking statements" for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by words such as "believe,""expect,""anticipate,""plan,""potential,""continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important facts that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These facts, risks and uncertainties are discussed in our Annual Report on Form 10-K for the year ended July 31, 2007, as updated from time to time in our filings with the Securities and Exchange Commission.