Inrad Optics, Inc. Reports Earnings Results for the Full Year Ended December 31, 2019
March 30, 2020 at 05:18 pm EDT
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Inrad Optics, Inc. announced earnings results for the full year ended December 31, 2019. For the full year, the company announced sales was USD 10.007 million compared to USD 11.488 million a year ago. Operating loss was USD 621,722 compared to operating Income of USD 867,440 a year ago. Net loss was USD 776,098 compared to net income of USD 706,608 a year ago. Basic loss per share from continuing operations was USD 0.06 compared to basic earnings per share from continuing operations of USD 0.05 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.
INRAD OPTICS, INC. 