Precision Optics Corporation, Inc. Announces Operating Results for the First Quarter of Fiscal Year 2015 Ended September 30, 2014
(firmenpresse) - GARDNER, MA -- (Marketwired) -- 11/13/14 -- Precision Optics Corporation, Inc. (OTCQB: PEYE) (the "Company") today announced operating results on an unaudited basis for its quarter ended September 30, 2014, the first quarter of its fiscal year 2015.
First quarter highlights include:
Completion of $1 million financing
Addition of two new members to the Board of Directors
Addition of Director of Engineering
Initiation and continuation of significant development contracts for the design and manufacture of micro-optics based devices
Advancement of discussions with strategic partners related to medical devices utilizing the Company''s Microprecision™ optics and next generation image sensors
Precision Optics'' CEO Joseph Forkey commented, "We continue to make progress with the introduction of our unique proprietary technologies into new products for our customers, and the level of interest in our products and capabilities has continued to grow. This is the best indication that we remain on course for long-term growth and success. Our first quarter results demonstrate that our business is still at a stage where revenues associated with specific product programs can vary from quarter-to-quarter and costs of newly launched products can have a material impact on overall margins. We are acutely focused on improving our margins and believe that these efforts, along with ongoing strong interest in our new products, will result in solid financial performance in future quarters.
"We remain convinced our products and technology are market-leading and represent the future of minimally invasive medical devices for applications that require high quality imaging in small size devices. Ongoing interactions with our growing network of partners and customers supports our expectation that there are large existing and developing markets for this new technology. As we further execute on our growth strategy, we will continue to target revenue growth and margin improvement, with a clear focus on maximizing profitability and increasing shareholder value."
The Company has scheduled a conference call to discuss the fiscal first quarter 2015 financial results for today at 4:30 PM Eastern. To participate in the conference call, please dial 1-866-652-5200 toll free from the U.S., or 1-412-317-6060, and ask to be connected to the Precision Optics conference call.
An audio replay of the conference call will be available approximately one hour after the conclusion of the call and will be made available until February 16, 2015. The audio replay can be accessed by dialing 1-877-344-7529 locally or 1-412-317-0088, toll free then enter conference ID number 10056138.
Precision Optics Corporation has been a leading developer and manufacturer of advanced optical instruments since 1982. Using proprietary optical technologies, the Company designs and produces next generation medical instruments, Microprecision™ micro-optics with characteristic dimensions less than 1 millimeter, and other advanced optical systems for a broad range of customers including some of the largest global medical device companies. The Company''s innovative medical instrumentation line includes state-of-the-art endoscopes and endocouplers as well as custom illumination and imaging products for use in minimally invasive surgical procedures. The Company believes that current advances in its proprietary micro-optics and 3D imaging technologies present significant opportunities for expanding applications to numerous potential medical products and procedures. The Company''s website is . Investors can find Real-Time Quotes and market information for the Company on .
This press release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express the Company''s intentions, beliefs, expectations, strategies, predictions or any other statements related to the Company''s future activities or future events or conditions. These statements are based on current expectations, estimates and projections about the Company''s business based, in part, on assumptions made by the Company''s management. These statements are not guarantees of future performances and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks discussed in the Company''s annual report on Form 10-K and in other documents that we file from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this report, except as required by law.
Following are the Company''s consolidated balance sheets as of September 30, 2014 and June 30, 2014, and statements of operations and cash flows for the three months ended September 30, 2014 and September 30, 2013 (unaudited):
PRECISION OPTICS CORPORATION
Telephone 978 / 630-1800
Telefax 978 / 630-1487
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Datum: 13.11.2014 - 15:05 Uhr
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