PPGI Posts Loss, but Revenue Increases
NORTHVALE, N.J., Aug. 25, 2011 — Photonic Products Group Inc. posted a $96,000 loss for its second quarter, but its revenue increased 49% year over year, the company reported through the consolidated financial results for its second quarter and six months ended June 30.
Revenue for the second quarter was approximately $3.22 million, up 49% from $2.16 million in the same period last year. For the six months that ended June 30, revenue was $6.46 million or 30% higher, compared to $4.97 million for the comparable period last year.
The net loss for the quarter was $96,000 and $61,000 for the six months ended June 30. This compares with a net loss of $649,000 and $923,000 in the same periods last year.
Orders for the second quarter were $3.48 million and $6.18 million for the six months ending June 30, up 126% and 46%, respectively, compared to last year’s second- quarter and six-month bookings of $1.54 million and $4.24 million.
PPGI develops, manufactures and markets products and services for diverse photonics industry sectors via its portfolio of branded businesses.
For more information, visit: www.ppgrpinc.com
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