Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

November 21, 2017

Precision Optics lessens losses 90%

File photo Precision Optics, which manufactures optical equipment for the defense and medical fields, is reporting a 21-percent increase in revenues.

Gardner-based Precision Optics is reporting increased revenues and a reduction in net loss for the first quarter of the company’s fiscal 2018.

In a press release last week, the advanced optical equipment manufacturer said net loss for the quarter was $29,000, a drastic improvement from last year’s Q1 net loss of $293,000. Revenues for the quarter were $1.03 million compared to $850,000 last year’s Q1.

The company reported gross margins of 37.6 percent compared to 19.7 percent last year.

In a statement, CEO Joseph Forkey said revenues continued their up-and-down trend with a 21-percent increase. 

Project-by-project margins were strong, and other non-production expenses were controlled, resulting in the improvement in gross margins and operating loss.

Compared to last year’s Q1, operating expenses were reduced by about $45,000 and gross profit more than doubled from $167,051 to $386,742. 

Forkey said demand for the company’s Microprecision technology capabilities is strong and future projects are expected to transition from engineering and prototype phases to production orders shortly.

Sign up for Enews

WBJ Web Partners

0 Comments

Order a PDF