StockerYale sees revenue increase
StockerYale’s revenues will increase in the first quarter of 2006, according to a statement issued Wednesday by the firm, but it won’t say whether it made any money until it releases its financial results on April 17.
The company indicated that revenues will range from $4.3 million to $4.4 million in the quarter, a 7 to 10 percent increase over the first quarter of 2005. The growth in revenues was primarily a result of stronger laser sales to the machine vision and defense markets, as well as growth of specialty optical fiber for industrial, defense and telecom equipment applications.
The company expects this trend to continue due to strong bookings, crediting its recent shift to its highest-margin products and discontinuing some of its older products.
“The company is already beginning to see the positive impact of these actions,” said Mark W. Blodgett, president and chief executive officer.
The company recently filed an annual statement that showed that while revenues increased last year, it lost nearly $24 million and needed to obtain financing if it was to continue as a “going concern.” – BOB SANDERS