Dynasil Turns a Profit After Restructuring
NEWTON, Mass., Dec. 17, 2014 — Dynasil Corp. has returned to profitability after shedding two business units and addressing debts during fiscal 2014.
The developer of optics and sensors for homeland security, medicine and industry reported year-end earnings of $2.0 million, compared to a net loss of $8.7 million in fiscal 2013.
Revenues were $42.3 million, down 1.2 percent from $42.8 million in fiscal 2013.
CEO Peter Sulick said a restructuring process it began last year involved the sale of its lead paint and gamma medical probe businesses, the spin-out of its tissue sealant technology and the acquisition of DichroTec Thin Films LLC.
Revenue at the company’s four optics business units grew by 19 percent in fiscal 2014, offsetting much of the lost revenue from the two businesses that were sold, Sulick said.
For more information, visit www.dynasil.com.
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