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News

14 August 2007

 

QPC’s revenues triple year-on-year

For second-quarter 2007, QPC Lasers Inc of the Los Angeles suburb of Sylmar, CA, USA, a vertically integrated manufacturer of high-power semiconductor lasers for industrial, defense, and medical markets, has reported total revenue of $1.8m (up 216% on $577,000 a year ago, due to increases in both product and government revenue). Product revenue was $850,000 (up 30% on $653,000 in Q1 and 274% on $227,000 a year ago).

“The company [which was founded in 2000] continued to make progress in transitioning to a manufacturing and production mode focused on growing our product sales,” says Dr Jeffrey Ungar, chairman and CEO. “We were particularly encouraged by orders [numbering more than 10] we continue to receive for our medical lasers. To better capitalize on this growth market, we strengthened our management team with the hiring of industry veteran Dr Tom Steele [as director of market development], who will spearhead our efforts to grow our footprint in the medical industry.” Also, military and defense business picked up during the quarter, including $1m in contracts from the US Navy for QPC’s generation III technology for directed energy weapons applications. “We look to make continued progress throughout the remainder of the fiscal year,” Ungar adds.

Total operating expenses have been cut from $3.6m a year ago to $2.5m and gross margin has risen from 14% to 47%. Net loss has been cut from $4.4m a year ago to $1.3m, due mainly to the growth in product revenues.

Cash reserves have strengthened from $1.4m at the end of December to $10.7m at the end of June.

During Q2/2007, QPC also closed a $16.9m financing round, which will enhance QPC’s ability to launch its generation III product line, says Ungar. QPC is targeting full-year 2007 revenue of $6-7.5m (up from $3.1m for 2006).

See related items:

QPC introduces BrightLase seed laser

QPC raises a further $9.5m in financing

QPC quadruples revenue on transition to production

QPC Lasers awarded Navy contracts; closes private financing

QPC tripled revenue in 2006; BrightLase orders boosted to $2m

Visit: http://www.qpclasers.com