Inrad Optics, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019
August 14, 2019 at 12:25 pm EDT
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Inrad Optics, Inc. announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced sales was USD 2.619 million compared to USD 2.723 million a year ago. Operating loss was USD 302,090 compared to operating Income of USD 53,896 a year ago. Net loss was USD 341,210 compared to net income of USD 14,104 a year ago. Basic loss per share from continuing operations was USD 0.02 compared to Basic EPS - Continuing Operations of USD 0 a year ago. For the half year, sales was USD 5.220 million compared to USD 6.025 million a year ago. Operating loss was USD 299,565 compared to operating Income of USD 360,121 a year ago. Net loss was USD 377,346 compared to net income of USD 278,267 a year ago. Basic loss per share from continuing operations was USD 0.03 compared to basic earnings per share from continuing operations of USD 0.02 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. 
