Earnings Jump at Hamilton Thorne
BEVERLY, Mass. — Biophotonics firm Hamilton Thorne Ltd. said it experienced a five-fold increase in profits from 2013 to 2014.
Preliminary figures put net income at more than $800,000, compared to $125,000 the prior year.
Revenues increased 16 percent to approximately $8.7 million in 2014, led by growth in sales of computer-aided sperm analysis imaging products and Lykos clinical laser systems, as well as increased revenues from after-sale services.
Fourth-quarter sales grew 10 percent to approximately $2.5 million compared to the same quarter in 2013, marking the ninth consecutive quarter of growth.
“As part of an ongoing strategy to expand our product offerings, we are expecting to increase our spending on research and development projects,” said CEO David Wolf. “We are also actively seeking to accelerate our growth through the potential acquisition of additional products or companies.”
Hamilton Thorne develops laser devices and imaging systems for the fertility, stem cell and developmental biology research markets.