Revenue during the quarter went up marginally by 2.85 percent to $33.29 million from $32.37 million in the previous year period. Gross margin for the quarter contracted 149 basis points over the previous year period to 45.73 percent. Total expenses were 77.14 percent of quarterly revenues, up from 74.27 percent for the same period last year. That has resulted in a contraction of 287 basis points in operating margin to 22.86 percent.

Operating income for the quarter was $7.61 million, compared with $8.33 million in the previous year period.

David Battat, chief executive officer, commenting on the results for the fourth quarter and the full year 2016 as compared to the prior year periods said, "Revenues in our fourth quarter were higher by 3%, while operating income was down 9%. For the full year, revenues were down 2% with operating income lower by 8%." Mr. Battat added, "We are never pleased when year-over-year comparisons are lower. In prior statements, we cautioned about the impact of a strong dollar and the lapse of certain ophthalmic patents. To manage these forces, we focused on growing revenues in our primary activities in Fluid Delivery and Cardiovascular. These efforts resulted in positive revenue comparisons in both the third and fourth quarters.”