Close

Search

Search Menu
Photonics Media Photonics Marketplace Photonics Spectra BioPhotonics EuroPhotonics Vision Spectra Photonics Showcase Photonics ProdSpec Photonics Handbook

GSI Lumonics Cuts Staff as Losses Mount

Facebook Twitter LinkedIn Email Comments
KANATA, Ontario, Oct. 26 -- GSI Lumonics Inc. reported a third-quarter loss and said it expects to continue to incur operating losses in the fourth quarter and plans to cut its full-time staff by 10 percent more.

As a result of the job cuts and other actions, the company said it will take about $3 million in one-time charges in the fourth quarter of this year.

The Kanata, Ontario-based firm incurred a loss of $8.5 million, or $0.21 per share, in the third quarter, compared to a profit of $7.2 million, or $0.17 per fully diluted share, a year earlier.


Photonics.com
Oct 2001
News & Features

Comments
back to top
Facebook Twitter Instagram LinkedIn YouTube RSS
©2020 Photonics Media, 100 West St., Pittsfield, MA, 01201 USA, [email protected]

Photonics Media, Laurin Publishing
x We deliver – right to your inbox. Subscribe FREE to our newsletters.
We use cookies to improve user experience and analyze our website traffic as stated in our Privacy Policy. By using this website, you agree to the use of cookies unless you have disabled them.