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Dynasil Announces First Quarter 2008 Results

Published on 2008-02-22. Author : SpecialChem

WEST BERLIN, N.J. -- Dynasil Corporation of America has announced the results of operations for its 2008 first quarter ended December 31, 2007. Dynasil is a manufacturer of photonic products including optical materials, components, coatings and specialized instruments. We fabricate optical blanks from synthetic fused silica and other optical materials for the laser, semi-conductor, aerospace and optical instrument industries. Through our subsidiaries, Optometrics Corporation and EMF Corporation, we are a worldwide supplier of optical components including diffraction gratings, thin film filters, laser optics, and specialized instruments. Our capabilities support medical imaging technologies, quality inspection systems, and missile guidance systems, among others.

Revenues for the 3 months ended December 31, 2007 were $2.8 million, an increase of 11.0% over revenues of $2.5 million for the 3 months ended December 31, 2006. The net profit for the 3 months ended December 31, 2007 was $190,286, or $0.03 per share, compared with a net profit of $22,902, or $0.00 per share, for the 3 months ended December 31, 2006. Strong revenue growth combined with continued process improvements drove those significant gains. EMF had its second consecutive profitable quarter, and we have shown significant improvement in productivity, quality, service, and process yields. Our other businesses delivered solid profitability gains over the previous year. In total, net profits show a seven-fold improvement over last year.

On December 20, 2007, we announced a letter of intent to acquire an advanced instrument company that, if completed, is expected to more than triple our revenues and profitability. On January 18, we completed the acquisition of the optical filter product line from Precision Optics Corporation which will be fully integrated into our Optometrics location and is expected to add about $500,000 of additional revenues per year.

"We are very pleased with our business units' performance in the first quarter. Through the steady application of Operational Excellence, we continue to grow profitability at an above-average rate," said Craig T. Dunham, President and CEO. "Achieving significant profitability, maintaining a double-digit growth rate in our existing businesses, and potentially tripling the overall company size through acquisitions are all key elements of our strategy in action."

About Dynasil:

Founded in 1960, Dynasil is a manufacturer of photonic products including optical materials, components, coatings, and instruments for a broad range of applications markets in the medical, industrial, and defense sectors. Its wholly-owned subsidiaries are located in New Jersey, Massachusetts, and New York.

This news release may contain forward-looking statements usually containing the words "believe," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act. Future results of operations, projections, and expectations, which may relate to this release, involve certain risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the factors detailed in the Company's Annual Report or Form 10-KSB and in the Company's other Securities and Exchange Commission filings, continuation of existing market conditions and demand for our products.

Source: Dynasil


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