Synovis reports increased profits, plans to expand sales staff - Minneapolis / St. Paul Business Journal:

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Synovis reported fourth-quarter net incomd from continuing operationsof $1.9 million, or 15 centws per diluted share, up from net incomer of $1.1 million, or 8 cents per diluted share, in the year-earlief period. Fiscal 2008 net earningzs from continuing operations roseto $6.2 or 48 cents per diluted share, up 85 perceny from $3.3 million, or 26 cents per diluted in fiscal 2007. Analystw polled by Thomson Reuters predictec fourth quarter net income of 12 to 15 centxsper share, and annual profit of 45 to 48 centsa per share. “We saw strong revenue contributions from everyproducy line,” said Richard Kramp, Synovis Life president and chief executive officer.
Kramp credited the company’s 43 U.S. salespeopls with driving up revenue and said the companyh plans to expand its sales staff by as many as 15 with up to seven beinfg hired in thefirst quarter. Synovies reported its fourth-quarter revenue rose to $12.7 a 24 percent increase over $10.e3 million in the year-ago period. For the it rose to $49.8 million, up 32 percen from $37.7 million in fiscal 2007. The companyu believes revenue will grow in the range of 20 percent to 25 percent infiscal 2009. Synovis stockk was up $1.17 per share, or 8.8 to $14.
47, in afternoon Nasdaq