May 16, 2007
New product, new customer cost Precision
By Matthew L. Brown
Production and shipment of a new surgical visualization system to a new customer put Gardner-based Precision Optics Corp. Inc. into an $843,911 net loss for the third quarter ended March 31.
The loss is $361,738 more than the $482,173 net loss it reported for the third quarter of 2006.
According to the company, revenue for the quarter was $467,199. The company reported revenue of $646,077 for the same quarter the previous year.
During the quarter, the company more than tripled its research and development spending in a shift to "customer-driven product development."
According to the company, small initial shipments of its new surgical visualization system were made in the first quarter to the customer for whom it was made. The rest of the order is expected to ship during the next two quarters, the company said.
The loss is $361,738 more than the $482,173 net loss it reported for the third quarter of 2006.
According to the company, revenue for the quarter was $467,199. The company reported revenue of $646,077 for the same quarter the previous year.
During the quarter, the company more than tripled its research and development spending in a shift to "customer-driven product development."
According to the company, small initial shipments of its new surgical visualization system were made in the first quarter to the customer for whom it was made. The rest of the order is expected to ship during the next two quarters, the company said.
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