Inrad Optics, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2019
May 15, 2019 at 03:25 pm EDT
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Inrad Optics, Inc. announced earnings results for the first quarter ended March 31, 2019. For the first quarter, the company announced sales was USD 2.601 million compared to USD 3.302 million a year ago. Operating income was USD 2,526 compared to USD 306,225 a year ago. Net loss was USD 36,135 compared to net income of USD 264,163 a year ago.
Inrad Optics, Inc. develops, manufactures, and markets products and services for use in photonics enabled industry sectors. The Company is a vertically integrated manufacturer specializing in glass, crystal, and metal-based optical components, and sub-assemblies. As original equipment manufacturers (OEM) demand waned for such crystals, the Company transitioned to a vertically integrated photonics manufacturer focused in three main categories: Ultraviolet (UV) to Infrared Optical Components (IR), X-ray Imaging Optics, and Metal Substrate Optics. The Company offers thin-film coating services, opto-mechanical design for manufacturability, and complex assembly services as part of its deliverables, and supports prototyping through production requirements across all three product areas. Its customers include corporations in the semiconductor equipment, process control and metrology, defense, aerospace, laser systems sectors, United States Government, and National Laboratories.