ProPhotonix Order Backlog At Record Levels As Annual Profit Grows

14th Mar 2018 12:09

LONDON (Alliance News) - ProPhotonix Ltd on Wednesday reported an increase in both revenue and profit for 2017, and said it has a record order backlog going forward.

Pretax profit in 2017 rose to USD1.6 million from USD1.3 million, on the back of revenue growth of 9% to USD17.7 million.

Operating profit did, however, drop 19% to USD1.2 million from USD1.5 million, but excluding stock compensation the figure increased 11% to USD1.9 million from USD1.7 million.

Order bookings stood at USD19.6 million compared to USD16.7 million in 2016, and ProPhotonix's order backlog has risen to USD7.3 million from USD5.6 million.

ProPhotonix, which makes light emitting diode illumination solutions and laser modules, mainly operates in the industrial sector, which provides 75% of its revenue. Medical provides 21%, and homeland security & defence 4%%.

Looking forward to 2018, ProPhotonix is positive on its business pipeline given the strength of its order book, and is confident on achieving positive momentum going forward.

Shares were up 2.9% on Wednesday at 9.00 pence.

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