PETALUMA – Oculus Innovative Sciences (NASDAQ:OCLS), maker of Microcyn to promote healing of wounds, reported revenue of $2.3 million in the first quarter of fiscal 2011, compared to $1.8 million in the first quarter of fiscal 2010.

Net loss for the three months ended June 30, 2010 was $2.4 million, down $1.1 million from $3.5 million for the same period in the prior year.

Hoji Alimi, founder and CEO of Oculus, said, “Two years ago we were a one-compound company in a Phase II trial, expecting to spend an additional $30 million to $40 million on two Phase III trials and burning approximately $18 million per year. Today we have commercialized more than 18 products in the U.S. alone, and see significant near-term revenue growth opportunity in the animal healthcare as a result of revenue sharing with our U.S. animal healthcare partner that commences on July 1, 2011.

“We are keeping cash operating expenses flat at $2.8 to $3 million per quarter. Milestones for our shareholders over the next year include additional U.S. and foreign regulatory clearances, multiple product launches and the definitive revenue sharing in animal healthcare beginning July 1, 2011.”

Oculus employs about 30 in its Petaluma headquarters. It’s stock closed at $1.94, down 3 cents.