18 May 2017 07:00
May 18, 2017
ProPhotonix Limited
("ProPhotonix" or "the Company")
AGM Statement
ProPhotonix Limited (London Stock Exchange - AIM: PPIX, OTC: STKR), a high technology designer and manufacturer of LED illumination systems and laser diode modules, with operations in Ireland and the United Kingdom, is holding its Annual General Meeting at 2:00pm today, at which the President and CEO, Tim Losik, will make the following statement:
"2016 was a successful year for ProPhotonix with another year of net profit. During 2016, net income increased 348%, operating income increased 89% and EBITDA increased by 49%, each compared with 2015.
"In addition, the ProPhotonix team has been diligently pursuing new customers and new product and market initiatives, which has resulted in an encouraging 2017 to date. The Company has enlarged its UV product family to include the COBRA Cure FX3, its highest intensity fan cooled UV LED products, and adds to the existing COBRA Cure FX1 and the COBRA Cure FX2.
"The Board remains positive about the business pipeline and is confident in the Company's ability to achieve continued positive momentum toward its business objectives."
A presentation to be given at the AGM will be available at the time of the meeting on the Company's website at http://www.prophotonix.com/investors/.
Enquiries:
ProPhotonix Limited Tim Losik, President and CEO
| Tel: +1 603 893 8778 ir@prophotonix.com |
Stockdale Securities Limited Tom Griffiths and David Coaten | Tel: +44 (0) 20 7601 6100 |
Nominated Adviser and Broker |
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
Cautionary Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact, including without limitation, those with respect to ProPhotonix's goals, plans and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: uncertainty that cash balances may not be sufficient to allow ProPhotonix to meet all of its business goals; uncertainty that ProPhotonix's new products will gain market acceptance; the risk that delays and unanticipated expenses in developing new products could delay the commercial release of those products and affect revenue estimates; the risk that one of our competitors could develop and bring to market a technology that is superior to those products that we are currently developing; and ProPhotonix's ability to capitalize on its significant research and development efforts by successfully marketing those products that the Company develops. Forward-looking statements represent management's current expectations and are inherently uncertain. All Company, brand, and product names are trademarks or registered trademarks of their respective holders. ProPhotonix undertakes no duty to update any of these forward-looking statements.