Prophotonix’s directors are expecting $7 million of sales in the first half of 2012 with the second half seeing higher revenues.
The company’s product development is on course after a near doubling of the research and development team in 2011, while its sales expansion initiatives are on track, according to the directors, after adding additional sales personnel to service the European market and expanding Asian distribution.
In a statement to shareholders Prophotonix’s chairman and chief executive officer, Mark Blodgett, said: ‘The Group’s trading performance since the beginning of the year builds on our leadership position within the high growth sectors of the LED and laser markets. We have continued to position ourselves to ensure that significant progress can be made through our combined expertise in these two key areas of optics in the industrial inspection, primarily machine vision, medical and security markets.’
Despite the positive situation Blodgett also told shareholders that sales to the solar equipment industry have remained weak and they are now not expected to recover until later in 2013. While the company waits for the solar sector to revive it is pursuing long-term revenue opportunities in the industrial market including designing and manufacturing high value, high margin components for global equipment manufacturers and inspection systems for Fortune 1,000 companies.