Photon Control Reports First Quarter 2016 Financial Results
Quarterly Sales of $7.2 Million
Quarterly Net Earnings of $2.1 Million
Earnings per Share (Basic) of $0.02
BURNABY, BC, May 30, 2016 - Photon Control Inc. ("Photon Control" or the "Company") (TSX-V: PHO), a leading developer of optical measurement technologies, released its unaudited financial results for the first quarter ended March 31, 2016.
The significant progress achieved in fiscal 2015 made a positive impact on Photon Control's start of the current fiscal year. In Q1 2016, the Company saw a continued strong level of sales, posting the second-best quarterly revenue in the Company's history. Product sales for Q1 2016 were $7.2 M representing an increase of$0.4 M or approximately 6% compared with $6.8 M during the same period in 2015. Profit before taxes for Q1 2016 was$2,140,899 compared to Q1 2015 profit before taxes of$3,721,407. Foreign exchange loss for the three months endedMarch 31, 2016 was approximately ($0.7) M compared to foreign exchange gain of approximately $1.1 M during the same period in 2015.
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Published: 30 May 2016
Written by Editor