Le Lézard
Classified in: Health, Business
Subjects: TNM, ERN, CCA

Precision Optics Reports Preliminary Fourth Quarter 2019 Revenue and Pro Forma Financials of Recent Acquisition


GARDNER, Mass., Aug. 15, 2019 /PRNewswire/ -- Precision Optics Corporation, Inc. (OTCQB: PEYE), a leading designer and manufacturer of advanced optical instruments for the medical and defense industries, today announced preliminary revenue for the fourth quarter and fiscal year end 2019, ended June 30, 2019. Additionally, the Company filed an 8-K/A which includes the pro forma financial results of its acquisition of Ross Optical Industries which was originally announced on July 8, 2019.

Precision Optics will issue complete fiscal year end 2019 financial results as part of its Form 10-K to be filed during the last week of September 2019.

Preliminary fourth quarter fiscal 2019 highlights include:

Preliminary fiscal year 2019 highlights include:

Pro forma financial highlights include:

Precision Optics' CEO, Joseph Forkey, commented, "I am extremely pleased with the preliminary revenue numbers for the fourth quarter and fiscal year 2019 which show a continuation of the strong growth trends we experienced throughout the year. Our work with key medical device and defense companies to help them develop the next generation of technology through Precision Optics' proprietary micro optics and 3D imaging capabilities has created a growing portfolio of products. Many of these products should have long product life cycles, providing us with a strong and expanding backlog of business. Additionally, we have maintained strong engineering revenue levels, particularly for projects we expect to go into production during the next twelve to eighteen months."

Dr. Forkey continued, "To build on the growth in our micro optics and 3D imaging operations, we are excited about our recent acquisition of Ross Optical. Strategically, Ross Optical helps to broaden our markets and product offerings, enhances our supply chain, accelerates our efforts to gain economies of scale, and diversifies our customer concentration. Financially, we acquired a growing and profitable operation at what we believe is an attractive price with potential operational cost savings as well as key synergies available to us that further enhance the value to Precision Optics shareholders."

Preliminary Fourth Quarter 2019 Results and Ross Optical Acquisition Call Details
The Company has scheduled a conference call to discuss preliminary fourth quarter and fiscal 2019 revenues as well as its recent acquisition of Ross Optical Industries today, Thursday, August 15, 2019 at 5:00pm ET.

Call-in Information: Interested parties can access the conference call by dialing (877) 317-6789 or (412) 317-6789.

Live Webcast Information: Interested parties can access the conference call via a live Internet webcast, which is available at https://www.webcaster4.com/Webcast/Page/2109/31371.

Replay: A teleconference replay of the call will be available until August 22, 2019 at (877) 344-7529 or (412) 317-0088, confirmation #10134182. A webcast replay will be at  https://www.webcaster4.com/Webcast/Page/2109/31371.

About Precision Optics Corporation
Precision Optics Corporation enables innovation in minimally invasive surgery, diagnostics and treatment through optics and photonics. Precision Optics Corporation has been a leading developer and manufacturer of advanced optical instruments since 1982. Using proprietary optical technologies, the Company designs and produces next generation medical instruments, Microprecisiontm micro-optics with characteristic dimensions less than 1 millimeter, and other advanced optical systems for market-leading medical device companies. 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 believes that current advances in its proprietary micro-optics and 3D imaging technologies present significant opportunities for expanding applications to numerous potential medical products and procedures. The Company's website is www.poci.com. Investors can find Real-Time Quotes and market information for the Company on www.otcmarkets.com/stock/PEYE/quote.

About Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express the Company's intentions, beliefs, expectations, strategies, predictions or any other statements related to the Company's future activities or future events or conditions. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by the Company's 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 the Company's 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 the Company does not undertake any obligation to update any forward-looking statement, except as required by law. 

Company Contact:                                                     
PRECISION OPTICS CORPORATION
22 East Broadway
Gardner, Massachusetts 01440-3338
Telephone: 978-630-1800

Investor Contact:
LYTHAM PARTNERS, LLC
Robert Blum
Phoenix | New York
Telephone: 602-889-9700
peye@lythampartners.com

 

SOURCE Precision Optics Corporation


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News published on 15 august 2019 at 16:30 and distributed by: