Navigation Links
Precision Optics Corporation, Inc. Announces Operating Results for the First Quarter Ended September 30, 2012

GARDNER, Mass., Nov. 15, 2012 /PRNewswire/ -- Precision Optics Corporation, Inc. (OTCQB: PEYE) (the "Company") announces operating results for the first quarter of fiscal year 2013 ended September 30, 2012.

Revenues for the quarter ended September 30, 2012, were $563,398 compared to $504,749 for the same period last year, representing an increase of 11.6%.

Net loss for the quarter ended September 30, 2012, was $358,094, or $.27 per fully-diluted share, compared to net income of $1,998,441, or $1.15 per fully-diluted share, for the quarter ended September 30, 2011.  Net income in the quarter ended September 30, 2011 includes a non-recurring gain on the sale of patents of $2,276,286, which when removed, leaves a pro forma net loss in the quarter ended September 30, 2011 of $277,845.  The increase in the net loss in the quarter ended September 30, 2012 over the pro forma net loss in the quarter ended September 30, 2011, as adjusted for the removal of the non-recurring gain, is primarily attributable to lower gross margins as a result of new product start-up manufacturing costs and higher research and development expenses.

Cash and cash equivalents were $2,337,694 at September 30, 2012.  As previously announced, in September 2012 the Company completed a private offering to accredited investors of units of common stock and common stock purchase warrants generating gross proceeds of approximately $2.5 million, with net proceeds of approximately $2.2 million available immediately for the Company's general working capital needs.

The year-over-year increase in quarterly revenues resulted from increases in the Company's ongoing sales of previously developed products, as well as a newly designed addition to the Company's line of advanced surgical visualization products for use in spinal surgery.  The Company is currently completing pre-production activities to enable shipments against previously announced orders for products incorporating Microprecision™ technology for very small endoscopes and micro medical cameras with diameters on the order of 1 millimeter and smaller.  Operational efforts are also focused on sales and marketing strategies intended to broaden awareness of the benefits of the Company's new technology platform, which the Company believes is ready for general application to medical device projects requiring surgery-grade visualization from sub-millimeter sized devices.

About Precision Optics Corporation 

Precision Optics Corporation has been a leading developer and manufacturer of advanced optical instruments since 1982.  The Company designs and produces next generation medical instruments, Microprecision™ micro-optics with characteristic dimensions less than 1 millimeter, and other advanced optical systems based on the Company's proprietary optical technologies. The Company's innovative medical instrumentation line includes state-of-the-art endoscopes and endocouplers as well as custom illumination and imaging products for use in minimally invasive surgical procedures. The Company's website is Investors can find Real-Time quotes and market information for the Company on

About Forward-Looking Statements 

This press release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements related to our future activities or future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by our management. These statements are not guarantees of future performances and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks discussed in our annual report on Form 10-K and in other documents that we file from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this report, except as required by law.

SOURCE Precision Optics Corporation, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. TechPrecision Receives Additional Medical Purchase Orders Exceeding $1.5 Million
2. Precision Automation Expert DWFritz Automation Announces Website Launch
3. Plainfield Precision Achieves ISO 13485:2003 Quality Management Certification for Medical Device Manufacturing
4. Volcano to Highlight its Leadership in Precision Guided Therapy at EuroPCR 2012
5. Precision Optics Corporation Announces $1 Million Order for Microprecision™ Based Endoscopes
6. Global Medical Fiber Optics Industry
7. Denton Vacuum Ships Breakthrough Wafer-level Optics Development System to Leading German R&D Organization
8. Inrad Optics, Inc. Announces Financial Results For First Quarter 2012
9. Statement from Mary Vogt, President of Home Access Health Corporation, manufacturer of the Home Access HIV-1 test system, the only over-the-counter HIV test previously approved by the FDA for at-home use.
10. Janssen Research & Development Announces Establishment of Global Cross-Pharmaceutical Clinical Trial Investigator Databank
11. AspenBio Pharma Announces Pricing of Public Offering of 1,476,000 Shares of Common Stock
Post Your Comments:
(Date:11/26/2015)... DUBLIN , Nov. 26, 2015 Research ... of the "Advanced Wound Care Market by Type ... Ulcers), End User (In-Patient Facility, Out-Patient Facility), and Geography ... offering. --> --> ... the description, definition and forecast of the global advanced ...
(Date:11/26/2015)... November 26, 2015 ... adds "Global Repaglinide Industry ... Report on China Repaglinide Market, 2010-2019" ... data and information to its online ... . --> ...
(Date:11/26/2015)... Nov. 26, 2015 Research and Markets ... the "2016 Future Horizons and Growth Strategies ... Supplier Shares, Country Segment Forecasts, Competitive Intelligence, Emerging ... --> --> This ... the Italian therapeutic drug monitoring market, including emerging ...
Breaking Medicine Technology:
(Date:11/26/2015)... ... , ... PRMA Plastic Surgery is updating their record books yet again with ... flap breast reconstruction surgery! , “What an accomplishment for the PRMA team, says ... it’s an honor to have served all of these women.” , PRMA is one ...
(Date:11/26/2015)... ... November 26, 2015 , ... Pixel Film Studios brings Final ... ProTrailer: Vintage. This newly styled ProTrailer pack comes with 30 all-new vintage-inspired designs, ... giving users limitless opportunities to stylize and create designs quickly and easily, all ...
(Date:11/26/2015)... (PRWEB) , ... November 26, 2015 , ... Indosoft Inc., ... inclusion of an application server to improve system efficiency and reliability. , The new ... many of these standards, the system avoids locking itself into a specific piece of ...
(Date:11/25/2015)... ... November 25, 2015 , ... ... Water For Empowerment ™ attracts volunteers together who want to combine talents ... women as key stakeholders in the process. The non-profit launched its first major ...
(Date:11/25/2015)... ... ... Finnleo, a leader in the traditional and far-infrared sauna industry, announced a sale ... , For traditional saunas, Finnleo is offering 20% off all Nordic Spruce ... only European Grade A Nordic White Spruce from sustainably grown trees. Because of the ...
Breaking Medicine News(10 mins):