BUSINESS: Financial Second Sight Reports Second Quarter 2015 Financial Results By Staff Friday, August 7, 2015 12:22 AM SYLMAR, Calif.—Second Sight Medical Products, Inc. (NASDAQ:EYES), developer of the Argus II retinal implant, reported that net revenue grew by 335 percent to $2.7 million in the second quarter ending June 30, 2015, compared to $0.6 million in the prior year period. The increase was primarily due to a higher number of implanted Argus II retinal prostheses in the second quarter of 2015 versus the year-ago quarter, Second Sight said. There were 20 Argus II retinal prostheses implanted in the second quarter of 2015, compared to three for the second quarter of 2014.Gross profit was $1.1 million in the second quarter of 2015, compared to a gross loss of $382,000 in the second quarter of 2014. The improvement reflects the higher levels of production to meet demand, which allowed Second Sight to lower the overall cost per unit by spreading manufacturing overhead across more units.Total operating expenses in the second quarter of 2015 were $6.0 million, compared with $5.2 million in the second quarter of 2014, reflecting the company's increased investment in sales and marketing, as well as costs associated with being a publicly traded company. This increase was offset by a decrease in research and development expense due the utilization of $512,000 of grant funding in the second quarter of 2015.Operating loss in the second quarter of 2015 was $4.9 million, compared to an operating loss of $5.6 million for the same period last year. Net loss in the second quarter of 2015 was $4.9 million compared with a net loss of $7.5 million in the prior year quarter.“This was our strongest quarter to-date, highlighted by record revenue of $2.7 million,” said Robert Greenberg, MD, president and CEO of Second Sight. “These significant gains versus the same period last year were driven by our focus on expanding implanting centers around the world, and our efforts to expand reimbursement coverage in the U.S. and abroad. We now have 29 active implanting centers and are in ongoing discussions with more centers around the world. “We are also advancing our R&D strategy to help more of the 1.5 million people worldwide that suffer from retinitis pigmentosa. Our continued growth will be driven by further penetration in our existing markets, increased volume at current centers and additional implanting centers in new geographic markets,” he added.For the six months ended June 30, 2015, total revenue was $4.4 million in 2015, compared to $1.3 million in 2014. The increase reflects volume growth in the number of implanted Argus II retinal prostheses, according to Second Sight.