ProPhotonix is expected to post $7 million of revenue in the first half of 2012, according to a statement from Mark Blodgett, chairman and CEO made during the company’s AGM. Furthermore, expectations are that revenue will be higher in the second half of 2012 based on the company’s growing business pipeline from existing and new customers.
Blodgett commented: ‘The Group’s trading performance since the beginning of the year builds on our leadership position within the high growth sectors of the LED and laser markets. We have continued to position ourselves to ensure that significant progress can be made through our combined expertise in these two key areas of optics in the industrial inspection, primarily machine vision, medical and security markets.’
ProPhotonix strengthened its sales force, doubled its R&D team in 2011 and appointed new distribution partners in Asia, as well as re-establishing a strong presence in the US.
‘The directors report that both product development and sales expansion initiatives, which were outlined at the time of the Company’s July 2011 capital raising, are on track and we expect that these investments will result in long term growth in the various markets we serve,’ he continued.
