SOURCE: ProPhotonix Limited

March 19, 2015 03:00 ET

ProPhotonix Announces Results for December 31 2014

SALEM, NH--(Marketwired - Mar 19, 2015) - ProPhotonix Limited (OTC PINK: STKR) (LSE: PPIX) (LSE: PPIR)

PROPHOTONIX ANNOUNCES PRELIMINARY RESULTS FOR 2014
Annual General Meeting Date

(Salem, New Hampshire, March 19, 2015) ProPhotonix Limited (OTC: STKR; LSE: PPIX; LSE: PPIR), a 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, 2014.

Annual General Meeting
The Company will hold the Annual General Meeting of the Shareholders on May 14, 2015 at 2:00 PM British Summer Time at the offices of K&L Gates LLP, One New Change, London EC4M 9AF. The Record date is set at March 20, 2015 for all shareholders of record.

Financial Highlights

  • Revenue increased 5.3% to $16.4 million
  • Gross profit increased 7.6% to $6.4 million
  • Gross profit margin improved to 39.1%
  • Operating profit of $0.1 million versus operating loss of $1.2 million in 2013(1)
  • EBITDA profit of $0.6 million versus loss in 2013 of $0.7 million(1)
  • Percentage revenue by market sectors: industrial 73%, medical 16%, and homeland security & defense 11%
  • Percentage revenue by geography: 52% Europe, 31% North America and 17% Rest of World
  • Available borrowing capacity of $1.9 million from its loan facilities at December 31, 2014.

(1) Includes $582,000 non-recurring charges

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

http://www.rns-pdf.londonstockexchange.com/rns/8479H_1-2015-3-19.pdf

Contact:

ProPhotonix Limited
Tim Losik, President and CEO
Tel: +1 603 870 8220
ir@prophotonix.com
   
N+1 Singer
Ben Wright, Richard Salmond
Tel: +44 (0) 207 496 3000
Nominated Adviser and Broker  

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

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