Q3 earnings up for ProPhotonix

Share this on social media:

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.'

Recent News

23 September 2020

The software will help engineers develop event-based vision systems, an imaging method that records changes in a scene rather than capturing an image frame by frame

14 September 2020

Messe Stuttgart has set a date of 5 to 7 October 2021 for the Vision show, which was cancelled because of the coronavirus pandemic. The show will be held in parallel with Motek

03 September 2020

Terahertz imaging company, Tihive, has been awarded €8.6m from the European Innovation Council's Accelerator programme to scale up its industrial inspection technology

01 September 2020

The robotics market in North America is down 18 per cent so far compared to the same period last year