Laser Precision Says Revenue Is Up by 50%
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Laser Precision Corp., an Irvine manufacturer of industrial lasers, reported second-quarter profit Monday of $186,958, up from a loss of $48,181 for the year-ago period. Revenue was up 50% to $3.6 million from $2.4 million.
Gregory A. Miner, vice president and chief financial officer, attributed the company’s return to profitability to increased sales, primarily for its test equipment for the fiber optic telecommunications industry.
Miner also said the company’s order backlog of more than $5 million, anticipated new product introductions and ongoing sales rate “presage continued improvement in both revenues and earnings during the second half of 1986.”
For the first half of the year, Laser Precision had profit of $239,086, compared to a loss of $293,461 last year. Revenue rose 46% to $6.3 million from $4.3 million.
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