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Thursday, Mar 28, 2024

Laser Maker Posts Loss for Fiscal Year

Despite new products, new commercial sales and government contracts, QPC Lasers Inc. posted a $18.7 million net loss for the 2006 fiscal year. The loss included a $6 million charge to terminate a previous license agreement and approximately $2.8 million of non-cash charges resulting form the issuance of shares. Sylmar-based QPC develops and sells high-brightness, high power semiconductor lasers for the defense, homeland security, industrial and medical markets. For the 2006 fiscal year, the company reported a net loss of $18.7 million, or a loss of $0.60 per diluted share, on revenues of $3.1 million. That is an increase from the net loss of $7.7 million, or a loss of $1.49 per diluted share, on revenues of $1.1 million for the 2005 fiscal year. QPC is making the transition from a research and development organization to a manufacturing company. During first quarter of 2007 fiscal year, it has shipped next generation direct-diode lasers for military and industrial applications; shipped eye-safe laser engines to U.S. defense contractors for a U.S. Army project; and collaborated with Northrop Grumman Space Technology to jointly develop integrated semiconductor laser modules and systems. “We are seeing increasing adoption of advanced laser technologies in a wide range of medical, industrial, and defense industries, and expect demand for high-performance, cost-effective diode lasers to increase,” said company Vice Chairman and Co-Founder George Lintz in a statement.

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