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News

22 May 2007

 

QPC quadruples revenue on transition to production

QPC Lasers Inc of Sylmar, CA, USA, which manufactures high-power lasers for the defense, industrial, and medical markets, has reported first-quarter 2007 revenue of $1.1m (up on $266,000 a year ago). This follows a rise in commercial sales and government contracts due to increased product offerings and expanded sales & marketing efforts, the firm says.

Product revenue was $653,000 (up on $548,000 last quarter and $235,000 a year ago), due mainly to initial production shipments of Generation II fiber-coupled products along with ongoing shipments of the Generation I varicose vein treatment laser. QPC also made initial shipment of its next-generation BrightLase Direct-Diode Laser modules for military and industrial applications (including eye-safe laser engines to US defense contractors developed under a US Army project).

Net loss has been cut from $3.3m a year ago to $2.4m, due mainly to the product revenue growth as well as a reduction in interest expenses. Gross margin has improved from -5% a year ago to 23%.

Founded in the year 2000, QPC is a vertically integrated company (from epitaxy through packaging) and performs all critical fabrication processes itself. “The company has begun the transition from the R&D stage to the production stage,” says chairman and CEO Jeffrey Ungar.

During Q1/2007, QPC received more than 30 new orders (many from new customers). “We continued to receive strong orders for our medical lasers, and currently have $2m in contracts and purchase orders for our Generation II medical module, a significant milestone as we target the large and growing medical laser sector.” The firm also agreed a partnership with Northrop Grumman Space Technology Cutting Edge Optronics for the integration of high-power lasers.

“We are continuing to position the company for strong growth in 2007 and beyond,” says CFO and executive vice chairman George Lintz. “In April we closed a $7.4m financing, which will enhance our ability to focus on growing our product pipeline,” he adds. “Our pipeline of product solutions continues on track, and we currently anticipate significant growth throughout the remainder of the year.”

For full-year 2007, QPC is targeting revenues of $6-7.5m (more than double 2006’s $3.1m).

See related items:

QPC Lasers awarded Navy contracts; closes private financing

QPC tripled revenue in 2006; BrightLase orders boosted to $2m

QPC Lasers partners with Cutting Edge Optronics on high-power laser integration

Visit: http://www.QPClasers.com