SOURCE: ProPhotonix Limited

May 17, 2012 02:07 ET

AGM Statement

SALEM, NH--(Marketwire - May 17, 2012) -

17 May 2012

                           ProPhotonix Limited

                     ("ProPhotonix" or "the Group")

                               AGM Statement

At the AGM held yesterday, Mark W. Blodgett, Chairman & CEO of
ProPhotonix, made the following statement:"The Group's trading performance
since the beginning of the year builds
on our leadership position within the high growth sectors of the LED
and laser markets. We have continued to position ourselves to ensure
that significant progress can be made through our combined expertise in
these two key areas of optics in the industrial inspection, primarily
machine vision, medical and security markets."The North American sales
organisation is now fully staffed and
management is focused on both adding additional sales personnel to
service the European market and expanding Asian distribution. With the
strengthened sales force, a nearly doubling of the R&D team in 2011 and
new distribution partners in Asia, as well as re-establishing a strong
presence in the US, the Group has a number of long-term revenue
opportunities in the industrial market, which we are actively pursuing.
Such opportunities include designing and manufacturing high value, high
margin components for global equipment manufacturers and inspection
systems for Fortune 1,000 companies."The Directors report that both product
development and sales expansion
initiatives, which were outlined at the time of the Company's July 2011
capital raising, are on track and we expect that these investments will
result in long term growth in the various markets we serve."As reported in
January and March, sales to the solar equipment
industry remain weak and are now not expected to recover until sometime
in 2013. Our current expectation is for $7 million of revenue in the
first half of 2012 and expectations are that revenue will be higher in
the second half of 2012 based on our growing business pipeline form
existing and new customers".

All resolutions put to shareholders were passed.


ProPhotonix Limited                 Tel: +44 (0)12 7971 7170
Mark W. Blodgett, Chairman and CEO
N+1 Brewin (NOMAD and Joint Broker) Tel: +44 (0) 203 201 3710
Andrew Craig / Ben Wright
XCAP Securities plc (Joint Broker)  Tel: +44 (0) 207 101 7070
Jon Belliss
Cubitt Consulting                   Tel: +44 (0) 20 7367 5100
Nicholas Nelson / Madeline Douglas

About ProPhotonix

ProPhotonix Limited, headquartered in Salem, New Hampshire, is an
independent 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 Opnext, QSI,
Ondax, Sanyo and Sony. The Company serves a wide range of markets
including the machine vision, industrial inspection, defense, sensors,
and medical markets. ProPhotonix has offices and subsidiaries in the
U.S., Ireland, and Europe. For more information about ProPhotonix and
its innovative products, visit the Company's web site at .

                    This information is provided by RNS
          The company news service from the London Stock Exchange


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