StockerYale, Inc. (NASDAQ: STKR), today announced preliminary results for its first quarter ending March 31, 2008. The company expects first quarter net sales to be between $8.1 million and $8.2 million. This is higher than previous expectations of $7.6 million to $8 million. StockerYale also received a record $9 million in new order bookings from its net sales of Photonic Products.
“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.“ The company sees this performance as an excellent first step towards what is expected to be a year of continued improved financial performance.
StockerYale is based out of Salem, New Hampshire. It is an independent designer and manufacturer of structured light lasers, LED modules and specialty optical fibers for industrial OEMs, medical and defense markets. The company also manufactures fluorescent lighting and phase masks. StockerYale has subsidiaries in the U.S., Europe and Canada.
Let us hear your thoughts below: