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| Press Release

Prophotonix Announces Preliminary Results For The Year Ended December 31, 2017

Notice of Annual General Meeting


SALEM, NH / ACCESSWIRE / March 14, 2018 /
ProPhotonix Limited (OTC PINK: STKR) and London Stock Exchange (AIM: PPIX), a high technology designer and manufacturer of LED illumination systems and laser diode modules, with operations in Ireland and the United Kingdom, today announces its unaudited preliminary results for the year ended December 31, 2017.

Financial Highlights


  • Revenue increased 9% to $17.7 million (2016: $16.2 million)
  • Gross profit increased 7% to $7.9 million (2016: $7.4 million)
  • Gross profit margin decreased slightly to 44.6% (2016: 45.4%)
  • Operating profit decreased 19% to $1.2 million (2016: $1.5 million). Excluding stock compensation, operating profit increased 11% to $1.9 million (2016: $1.7 million)
  • Net income increased 63% to $2.0 million (2016: $1.3 million)
  • Available borrowing capacity of $0.4 million from its revolving credit facility at December 31, 2017 (2016: $0.4 million)
  • Adjusted EBITDA increased 12% to $2.0 million (2016: $1.8 million)
  • Order bookings of $19.6 million (2016: $16.7 million)
  • Order backlog increased to $7.3 million (2016: $5.6 million) Book-to-Bill ratio of 1.11 (2016: 1.03)
  • Percentage revenue by market sectors: industrial 75%, medical 21%, and homeland security & defense 4% (2016: industrial 82%, medical 14%, and homeland security and defense 4%)
  • Percentage revenue by geography: 49% Europe,37% North America and 14% Rest of World (2016: 48% Europe, 42% North America and 10% Rest of World

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/6359H_1-2018-3-13.pdf

Contacts:

ProPhotonix Limited

Tim Losik, President and CEO


Tel: +1 603 893 8778

ir@prophotonix.com

Cantor Fitzgerald Europe

(Nominated Adviser and Broker)

Andrew Craig

Richard Salmond

David Foreman


Tel: +44 (0)207 894 7000

 


About ProPhotonix

ProPhotonix Limited, headquartered in Salem, New Hampshire, is a high technology designer and manufacturer of diode-based laser modules and LED systems for industry leading OEMs and medical equipment companies. In addition, the Company distributes premium diodes for Ushio (formerly Oclaro), Osram, QSI, Panasonic, and Sony. The Company serves a wide range of markets including the machine vision, industrial inspection, security, and medical markets. ProPhotonix has offices and subsidiaries in the U.S., Ireland, U.K., and Europe. For more information about ProPhotonix and its innovative products, visit the Company's web site at www.prophotonix.com.

SOURCE: ProPhotonix Limited