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Wednesday, April 02, 2008 11:50:35 AM
Definitely, think I might pick myself up a starter today! :)
StockerYale Announces Preliminary First Quarter 2008 Financial Results
Wednesday April 2, 7:00 am ET
Company To Report First Quarter 2008 Results on Thursday, April 24, 2008
SALEM, N.H.--(BUSINESS WIRE)--StockerYale, Inc. (NASDAQ: STKR - News), a leading designer and manufacturer of structured light lasers, LED modules and specialty optical fibers for industrial OEMs, medical and defense markets, today announced preliminary results for its first quarter ended March 31, 2008.
Preliminary Results for the First Quarter ended March 31, 2008:
* Record net sales expected to be between $8.1 million and $8.2 million, exceeding guidance of $7.6 million to $8.0 million
* Record new order bookings of approximately $9 million
* Record net sales from Photonic Products unit of approximately $3 million
“Our better-than-expected performance was driven by strength in our laser module businesses and operational improvements initiated in prior quarters,” stated Mark W. Blodgett, Chairman and Chief Executive Officer. “We are pleased with the growth and momentum we are seeing as we execute on our medical strategy announced early in the first quarter. Additionally, growth in our core industrial OEM business, highlighted in particular by a key milestone achieved in the turnaround in our Photonics Products unit, is being driven by strong overseas sales, new product traction, and improved operating efficiency. We view this performance as an excellent first step in what is expected to be a year of continued operational execution and improved financial performance for StockerYale.”
Mr. Blodgett will also present at the 9th Annual B. Riley & Co. Las Vegas Investor Conference today at 11:00 a.m. PDT. A live and archived audio webcast of the presentation will be available at http://www.wsw.com/webcast/brileyco9/stkr/ and on the StockerYale, Inc. website at http://www.stockeryale.com under Events. The webcast archive will be available for 90 days.
StockerYale also announced that its financial statements for the fiscal year ended December 31, 2007, included in the Company's Annual Report on Form 10-K filed on March 31, 2008, contain a going concern qualification to the audit opinion from its independent registered public accounting firm, Vitale, Caturano & Company, Ltd. This announcement is being made in compliance with NASDAQ Marketplace Rule 4350(b)(1)(B), which requires separate disclosure of receipt of an audit opinion that contains a going concern qualification. This announcement does not represent any change or amendment to the Company's 2007 financial statements or to its Annual Report on Form 10-K.
About StockerYale
StockerYale, Inc., headquartered in Salem, New Hampshire, is an independent designer and manufacturer of structured light lasers, LED modules, and specialty optical fibers for industry leading OEMs. In addition, the company manufactures fluorescent lighting products and phase masks. The Company serves a wide range of markets including the machine vision, industrial inspection, defense, telecommunication, sensors, and medical markets. StockerYale has offices and subsidiaries in the U.S., Canada, and Europe. For more information about StockerYale and their innovative products, visit the Company's web site at www.stockeryale.com
Contact:
For StockerYale, Inc.
The Piacente Group
Sanjay M. Hurry, 212-481-2050
(Investor Relations Counsel, StockerYale)
sanjay@tpg-ir.com
Source: StockerYale, Inc.
StockerYale Announces Preliminary First Quarter 2008 Financial Results
Wednesday April 2, 7:00 am ET
Company To Report First Quarter 2008 Results on Thursday, April 24, 2008
SALEM, N.H.--(BUSINESS WIRE)--StockerYale, Inc. (NASDAQ: STKR - News), a leading designer and manufacturer of structured light lasers, LED modules and specialty optical fibers for industrial OEMs, medical and defense markets, today announced preliminary results for its first quarter ended March 31, 2008.
Preliminary Results for the First Quarter ended March 31, 2008:
* Record net sales expected to be between $8.1 million and $8.2 million, exceeding guidance of $7.6 million to $8.0 million
* Record new order bookings of approximately $9 million
* Record net sales from Photonic Products unit of approximately $3 million
“Our better-than-expected performance was driven by strength in our laser module businesses and operational improvements initiated in prior quarters,” stated Mark W. Blodgett, Chairman and Chief Executive Officer. “We are pleased with the growth and momentum we are seeing as we execute on our medical strategy announced early in the first quarter. Additionally, growth in our core industrial OEM business, highlighted in particular by a key milestone achieved in the turnaround in our Photonics Products unit, is being driven by strong overseas sales, new product traction, and improved operating efficiency. We view this performance as an excellent first step in what is expected to be a year of continued operational execution and improved financial performance for StockerYale.”
Mr. Blodgett will also present at the 9th Annual B. Riley & Co. Las Vegas Investor Conference today at 11:00 a.m. PDT. A live and archived audio webcast of the presentation will be available at http://www.wsw.com/webcast/brileyco9/stkr/ and on the StockerYale, Inc. website at http://www.stockeryale.com under Events. The webcast archive will be available for 90 days.
StockerYale also announced that its financial statements for the fiscal year ended December 31, 2007, included in the Company's Annual Report on Form 10-K filed on March 31, 2008, contain a going concern qualification to the audit opinion from its independent registered public accounting firm, Vitale, Caturano & Company, Ltd. This announcement is being made in compliance with NASDAQ Marketplace Rule 4350(b)(1)(B), which requires separate disclosure of receipt of an audit opinion that contains a going concern qualification. This announcement does not represent any change or amendment to the Company's 2007 financial statements or to its Annual Report on Form 10-K.
About StockerYale
StockerYale, Inc., headquartered in Salem, New Hampshire, is an independent designer and manufacturer of structured light lasers, LED modules, and specialty optical fibers for industry leading OEMs. In addition, the company manufactures fluorescent lighting products and phase masks. The Company serves a wide range of markets including the machine vision, industrial inspection, defense, telecommunication, sensors, and medical markets. StockerYale has offices and subsidiaries in the U.S., Canada, and Europe. For more information about StockerYale and their innovative products, visit the Company's web site at www.stockeryale.com
Contact:
For StockerYale, Inc.
The Piacente Group
Sanjay M. Hurry, 212-481-2050
(Investor Relations Counsel, StockerYale)
sanjay@tpg-ir.com
Source: StockerYale, Inc.
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