Inrad Optics, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 11, 2023 at 05:24 pm EDT
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Inrad Optics, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 3.77 million compared to USD 2.74 million a year ago. Net income was USD 0.699619 million compared to USD 0.058915 million a year ago. Basic earnings per share from continuing operations was USD 0.05. Diluted earnings per share from continuing operations was USD 0.04.
For the six months, sales was USD 6.57 million compared to USD 5.18 million a year ago. Net income was USD 0.791146 million compared to USD 0.100347 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to USD 0.01 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. 
