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

ited) AssetsCurrent assets:Cash and cash equivalents$

3,869,144$

3,400,205Accounts receivable (net of allowance for doubtful accounts of $15,000 in 2012 and 2011)1,387,1552,052,887Inventories, net3,132,1902,909,520Other current assets117,244185,298Total current assets8,505,7338,547,910 

Plant and equipment:Plant and equipment,  at cost15,297,91015,172,428Less: Accumulated depreciation and amortization(13,770,279)(13,629,311)Total plant and equipment1,527,6311,543,117 

Precious Metals474,960474,960Deferred Income Taxes408,000408,000Goodwill311,572311,572Intangible Assets, net496,247515,888Other Assets36,55636,556Total Assets$

11,760,699$

11,838,003Liabilities and Shareholders' EquityCurrent Liabilities:Current portion of other long term notes$

9,800$

9,800Accounts payable and accrued liabilities764,349877,757Customer advances241,499266,818Total current liabilities1,015,6481,154,375Related Party Convertible Notes Payable2,500,0002,500,000Other Long Term Notes, net of current portion323,205325,633Total liabilities3,838,8533,980,008CommitmentsShareholders' Equity:Common stock: $.01 par value; 60,000,000 authorized shares; 11,868,724 shares issued at March 31, 2012 and 11,713,564 issued at December 31, 2011118,689117,137Capital in excess of par value17,931,77217,720,514Accumulated deficit(10,113,665)(9,964,706)7,936,7967,872,945Less - Common stock in treasury, at cost (4,600 shares)(14,950)(14,950)Total shareholders' equity7,921,8467,857,995 

Total Liabilities and Shareholders' Equity$

11,760,699$

11,838,003 INRAD OPTICS, INC AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)Three Months EndedMarch 31,20122011Total revenue$

2,840,681$

3,241,434Cost and expenses:Cost of goods sold2,100,7252,368
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SOURCE Inrad Optics, Inc.
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