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Precision Optics Corporation Announces Fourth Quarter and Year End Results With Highest Revenues in Six Years
Date:10/1/2007

GARDNER, Mass., Oct. 1 /PRNewswire-FirstCall/ -- Precision Optics Corporation, Inc. (OTC Bulletin Board: POCI), ("Precision Optics") today announced operating results for the fourth quarter and fiscal year ended June 30, 2007.

Fourth Quarter Operating Results

Revenues -- For the quarter ended June 30, 2007, revenues were $1,111,833 compared to $573,105 for the same period last year, an increase of 94%. This represents the highest quarterly revenue in six years. The revenue increase from the prior year was due principally to shipment of an advanced surgical visualization system for a significant new customer.

Net Loss -- For the quarter ended June 30, 2007, net loss was $594,556, or $0.02 per share, compared to $594,035, or $0.04 per share, for the same period last year. The weighted average common shares outstanding for the quarters ended June 30, 2007 and June 30, 2006 were 25,458,212 and 14,049,879, respectively.

Fiscal Year 2007 Operating Results

Revenues -- For the year ended June 30, 2007, revenues were $2,477,469 compared to $2,149,564 for the same period last year, an increase of 15.3%. This represents the highest annual revenue in six years. The revenue increase was due principally to shipment of an advanced surgical visualization system for a significant new customer, along with the introduction of a number of new products.

Net Loss -- For the year ended June 30, 2007 net loss was $2,889,829, or $0.15 per share, an increase of $617,356 compared to the net loss of $2,272,473, or $0.26 per share, for the year ended June 30, 2006. The increase is primarily a result of start-up efforts, associated with the initial production of an advanced surgical visualization system, a non-cash charge of $190,926 related to stock-based compensation expense following the adoption of Statement of Financial Accounting Standards No. 123 revised (SFAS No. 123(R)) on July 1, 2006, along with increased R&D expenses, sales and marketing act
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SOURCE Precision Optics Corporation, Inc.
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