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Inrad Optics, Inc. Announces Financial Results For First Quarter 2012
Date:5/16/2012

improvement in sales and bookings and our return to profitability in 2011. Unfortunately, customer delays in placing orders in the fourth quarter of 2011 resulted in having a negative impact on product sales and financial results for the first quarter of 2012.
Bookings in the first quarter 2012 exceeded our expectations although the timing of the orders placed and the lead time required to produce the products did not allow us to ship them in the quarter. We continue to see volatility and uncertainty in customer demand in some of the markets we serve. However, with new product developments and an increasing customer base, we are confident our business climate is continuing to improve. 

"Looking ahead, I am encouraged that a number of the initiatives we began earlier last year are beginning to pay-off.  In particular, we have had promising results from our development of a new material for neutron detection and are aggressively pursuing additional funding in this area.  In addition, our recent name change to 'Inrad Optics' has been well received by our customers and delivers a more powerful branding message for our products and services."

Inrad Optics, Inc. (formerly Photonic Products Group, Inc.) was incorporated in New Jersey in 1973. In January 2012, the Company's Board of Directors and shareholders approved the name change to Inrad Optics, Inc. The Company develops, manufactures and markets products and services for use in photonics industry sectors via three distinct but complimentary product areas - "Crystals and Devices", "Custom Optics" and "Metal Optics."

The Company is a vertically integrated organization specializing in crystal-based optical components and devices, custom optical components from both glass and metal, and precision optical and opto-mechanical assemblies.  Manufacturing capabilities include solution and high temperature crystal growth, extensive optical fabrication capabilities, including p
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SOURCE Inrad Optics, Inc.
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