This micro optical component manufacturer is expected to be listed on NASDAQ

According to Mimes Consulting, Precision Optics, headquartered in Massachusetts, USA, is a company that sells micro optical components and systems used in medical and defense fields. Recently, it announced its annual sales as of June 30, 2022: 15.7 million dollars. The company is expected to complete its listing on the Nasdaq Stock Exchange soon.

According to the previous estimate of Precision Optics, the sales increased by nearly 50% over the previous year, mainly due to its acquisition of Lighthouse Imaging, a professional endoscope manufacturer, in October 2021.

However, the profitability of Precision Optics was hit. The company's operating loss in the latest fiscal year was slightly higher than $1.5 million, higher than the previous year's $900000, partly due to the cost of trading with Lighthouse Imaging.

In the recent investor conference call, Joseph Forkey, CEO of Precision Optics, described the latest fiscal year as the "year of transformation" of the company. He said: "The acquisition of Lighthouse Imaging represents the combination of two industry leaders in micro optics and digital imaging. The new customer plan launched by Lighthouse Imaging is now ready to transfer from product development to mass production."

Joseph Forkey continued: "Cooperate with customers in the early stages of the product development cycle to bring cutting-edge technology capabilities in micro optics, 3D optics and digital imaging to their products - the strategic plan and vision has come into full effect. A major goal of this fiscal year is to improve the operating profits of these businesses."

"This has created a thriving production portfolio, coupled with a large number of development projects and the return of elective surgery after the new coronavirus pneumonia pandemic, which has put us in a good position for development and can continue the progress we have made in the 2022 fiscal year."

Joseph Forkey also told investors that he expected the annual sales of this fiscal year to increase by about 20%. Considering this growth rate, the company is expected to complete its listing on the NASDAQ Exchange soon. At present, Precision Optics shares are traded in the "OTCQB" market.

Source: MEMS