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Q3 earnings up for ProPhotonix

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ProPhotonix has recorded 2011 year-to-date revenue of $13.5 million, a 22 per cent increase on 2010 (16 per cent increase adjusting for impact of currency fluctuation). It has also released 2011 Q3 results of $4.5 million, up 16 per cent compared with the same period in 2010 (an increase of 10 per cent adjusting for impact of currency fluctuation). The company's LED revenue increased 41 per cent year-to-date to $6.9 million (2010: $4.9 million).

Commenting on the results, Mark Blodgett, chairman and CEO of ProPhotonix, said: 'We delivered a strong third quarter with 16 per cent revenue growth, despite the negative impact from foreign currency exchange due to the strengthening of the dollar in September, and a delay in shipments to two medical customers.

'Several milestones were met during the quarter including reaching breakeven operating profitability and a significant improvement in EBITDA profitability. Third quarter EBITDA was approximately $200,000, which was net of $60,000 of recruitment fees for new US sales personnel hired at the end of the quarter and $50,000 of reserve provisions.'

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