LONDON (Alliance News) - ProPhotonix Limited Thursday posted narrowed pretax losses, as revenues steadily grew and investment in restructuring, sales, and research and development improved performance.
For the half year ended June 30 the company had an loss from operations before tax of USD1.6 million, narrowed from aloss of USD1.8 million in the previous year half. Revenues increased to USD7.4 million from USD6.8 million.
The company said that, excluding restructuring and one-time charges of USD582,000, it had produced significant improvements in its operating performance compared to the first half of 2012. Actions taken to reduce costs in the first half will significantly reduce its break-even point going forward, it said, adding its outlook was very encouraging despite global economic headwinds.
ProPhotonic designs and manufactures LED lighting and laser modules. Its shares were trading down 2.3% at 1.51 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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