Precision Optics Corporation, Inc. (OTCQB: PEYE) is a leader
in the design and development of state of the art optical components and
products for medical, biomedical and industrial applications. The company’s
unique in-house approach to the design and manufacture of optical systems has
helped Precision thrive in a collection of competitive market sectors for well
over three decades. Whether clients need to see the inside of the heart or
brain or visualize the effectiveness or usage of a drug or device, Precision
has the tools needed to unlock near limitless possibilities.
Recently, Precision released its financial results for the
third quarter of fiscal year 2015, providing significant promise for the
company in the months to come. In addition to recording its highest revenues in
over a decade, the company realized a 16.6 percent improvement in gross margin.
“Our gross margin percentage was significantly higher than
recent quarters… due to our focus over the last six months on increased
manufacturing efficiencies, especially as we bring new products into
production,” stated Joseph Forkey, Chief Executive Officer of Precision.
Among the leading causes of Precision’s boosted revenues was
a significant increase in interest surrounding the company’s Microprecision™
technology, including its use in producing optics for reusable and single-use
medical devices. Using this proprietary technology, the company is able to
produce lenses as small as 0.2mm in diameter without the need to sacrifice on
quality. New techniques in spinal surgery, neuro surgery, and other specialties
require precise visualizations in very small spaces, demonstrating the existing
demand for Precision’s revolutionary production technology. As the medical
industry continues to advance in the coming years, the demand for these
micro-optics should increase exponentially.
“We continue to see solid demand for our traditional
products as well as early market acceptance of products based on our latest
technology,” continued Forkey.
In December, Precision leveraged its Microprecision™
technology to aid in the completion of a new surgical microscope video adapter
for Sony Electronics’ Medical Systems Division. Continued collaborations with
high caliber customers will provide additional validation as to the quality of
the company’s product offerings moving forward.
“Looking forward, we continue to see a strong pipeline of
opportunities, particularly in the area of micro-optics and micro-assemblies,”
concluded Forkey.
On the heels of one of the most successful financial
quarters in recent memory, Precision is in a strong strategic position to
increase its market share in the optics industry for years to come. Look for
the company to continue expanding its pool of clients in order to provide
further proof of concept regarding its unique ability to design, prototype and
manufacture a host of optical components. Building on recent performances,
Precision appears primed to provide substantial investor returns for the
foreseeable future.
For more information, visit www.poci.com
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