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Applied Energetics Shifts Focus From Defense to Industry

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TUCSON, Ariz., April 2, 2012 — Citing decreased defense spending, Applied Energetics Inc. said it is suspending most of its government work to focus on making lasers for industrial applications. Revenue from contracts with government agencies or contractors represented approximately 90 percent and 97 percent of total revenue for 2011 and 2010, respectively, the company said in a regulatory filing. The lasers, electronics and optics provider recently posted a loss of $6.5 million, or 7 cents a share, for fiscal year 2011, more than double 2010's $3.2 million loss. Applied Energetics reported that its revenue...Read full article

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    Published: April 2012
    2011 financial reportAmericasApplied EnergeticsARDECArizonaArmament Research Development and Engineering CenterBusinesscounter-IEDdefenseIEdimproved explosive devicesindustrialJoe HaydenLaser Guided EnergyLaser Light TechnologiesLGE technologymicromachiningOpticsultrashort pulsed lasersUSP lasersLasers

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