Inrad Optics, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 14, 2020 at 03:25 am IST
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Inrad Optics, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 2.237 million compared to USD 2.223 million a year ago. Operating loss was USD 127,405 compared to USD 255,377 a year ago. Net loss was USD 163,999 compared to USD 293,675 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.02 a year ago. For the nine months, sales was USD 6.812 million compared to USD 7.444 million a year ago. Operating loss was USD 349,877 compared to USD 554,941 a year ago. Net loss was USD 462,691 compared to USD 671,021 a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.05 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. 
