Precision Optics reports quarterly loss
Despite the launch of new contracts for some of its products, Precision Optics of Gardner reported a net loss of more than $296,000 in its latest fiscal quarter, deeper than the $211,000 it lost in the same quarter last year.
The company took in $831,000 in revenue, down about 8.5 percent from the more than $907,000 it took in during the same quarter in 2013.
The results are from the company’s first quarter of its 2015 fiscal year. The quarter ended Sept. 30. In its previous quarter, Precision reached a revenue record of nearly $903,000.
Yet, the company’s CEO said Precision remains “on course for long-term growth and success.”
“We remain convinced our products and technology are market-leading and represent the future of minimally invasive medical devices for applications that require high quality imaging in small size devices,” Joseph Forkey said in a statement.
“Our first-quarter results demonstrate that our business is still at a stage where revenues associated with specific product programs can vary from quarter to quarter,” Forkey said.
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