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Photonic Products Group, Inc. Reports Record Financial Results for FY 2007

12,702,619 13,004,557 13,426,628

Operating income 2,397,259 916,570 358,429

Other income (expense)

Interest expense, net (261,327) (402,154) (504,509)

Settlement of insurance

claim 300,000 -

(Loss) gain on sale of

precious metals (5,851) - 135,931

Other (21,150) (1,249)

(267,178) (123,304) (369,827)

Income (loss) before income

tax provision and preferred

stock dividends 2,130,081 793,266 (11,398)

Income tax provision 250,000 21,000 -

Net income (loss) 1,880,081 772,266 (11,398)

Preferred stock dividends (238,167) (234,500) (134,000)

Net income (loss) applicable

to common shareholders $ 1,641,914 $ 537,766 $ (145,398)

Net income (loss) per share

- basic $ 0.19 $ 0.07 $ (0.02)

Net income (loss) per share

- diluted $ 0.13 $ 0.06 $ (0.02)

Weighted average shares

outstanding - basic 8,609,822 7,572,637 7,218,244

Weighted average shares

outstanding - diluted 13,777,114 11,915,090 7,218,244



Years Ended December 31,

2007 2006 2005

Cash flows from operating


Net income (loss) $1,880,081 $ 772,266 $ (11,

SOURCE Photonic Products Group, Inc.
Copyright©2008 PR Newswire.
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