Inrad Optics, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2020
May 15, 2020 at 12:04 am IST
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Inrad Optics, Inc. announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was USD 2.050 million compared to USD 2.601 million a year ago. Operating loss was USD 286,224 compared to operating Income of USD 2,526 a year ago. Net loss was USD 324,487 compared to USD 36,135 a year ago. Basic loss per share from continuing operations was USD 0.02.
Inrad Optics, Inc. develops, manufactures, and markets products and services for use in photonics enabled industry sectors. The Company is a vertically integrated manufacturer specializing in glass, crystal, and metal-based optical components, and sub-assemblies. As original equipment manufacturers (OEM) demand waned for such crystals, the Company transitioned to a vertically integrated photonics manufacturer focused in three main categories: Ultraviolet (UV) to Infrared Optical Components (IR), X-ray Imaging Optics, and Metal Substrate Optics. The Company offers thin-film coating services, opto-mechanical design for manufacturability, and complex assembly services as part of its deliverables, and supports prototyping through production requirements across all three product areas. Its customers include corporations in the semiconductor equipment, process control and metrology, defense, aerospace, laser systems sectors, United States Government, and National Laboratories.