ProPhotonix posts $17 million revenue for 2011
ProPhotonix has announced that its revenue for the financial year ended 31 December 2011 is expected to be approximately $17 million and EBITDA is expected to be neutral. The company ended the year with a strong cash position of approximately $4.1 million.
The company’s revenues and loss before tax are in line with market expectations for the full year in spite of mixed trading in the last quarter of 2011, where the company experienced a slowdown in orders and shipments for certain of its product lines. In the first half of the year the company’s LED division benefited from particularly strong shipments to the German solar panel production equipment industry, which dropped off significantly later in the year. Management is not expecting a recovery in orders in this segment until the second half of 2012 due to the global overcapacity in the solar panel market.
In 2012, the company will continue to invest to broaden its LED and laser module portfolio.