Inrad Optics, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 14, 2019 at 10:34 pm IST
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Inrad Optics, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was USD 2.223 million compared to USD 2.788 million a year ago. Operating loss was USD 255,377 compared to operating Income of USD 346,730 a year ago. Net loss was USD 293,675 compared to net income of USD 306,715 a year ago. Basic loss per share from continuing operations was USD 0.02 compared to basic earnings per share from continuing operations of USD 0.02 a year ago. For the nine months, sales was USD 7.444 million compared to USD 8.814 million a year ago. Operating loss was USD 554,941 compared to operating Income of USD 706,455 a year ago. Net loss was USD 671,021 compared to net income of USD 584,982 a year ago. Basic loss per share from continuing operations was USD 0.05 compared to basic earnings per share from continuing operations of USD 0.04 a year ago.
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.
INRAD OPTICS, INC. 
