Inrad Optics, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 14, 2020 at 05:23 pm
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Inrad Optics, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced sales was USD 2.523 million compared to USD 2.619 million a year ago. Operating income was USD 63,752 compared to operating loss of USD 302,090 a year ago. Net income was USD 25,795 compared to net loss of USD 341,210 a year ago. Basic eps - continuing operations was USD 0 compared to basic loss per share from continuing operations of USD 0.02 a year ago. For the half year, sales was USD 4.574 million compared to USD 5.220 million a year ago. Operating loss was USD 222,472 compared to USD 299,565 a year ago. Net loss was USD 298,692 compared to USD 377,346 a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.03 a year ago.
Inrad Optics, Inc. develops, manufactures, and markets products and services for use in photonics enabled industry sectors. The Company is a vertically integrated manufacturer specializing in glass, crystal, and metal-based optical components, and sub-assemblies. As original equipment manufacturers (OEM) demand waned for such crystals, the Company transitioned to a vertically integrated photonics manufacturer focused in three main categories: Ultraviolet (UV) to Infrared Optical Components (IR), X-ray Imaging Optics, and Metal Substrate Optics. The Company offers thin-film coating services, opto-mechanical design for manufacturability, and complex assembly services as part of its deliverables, and supports prototyping through production requirements across all three product areas. Its customers include corporations in the semiconductor equipment, process control and metrology, defense, aerospace, laser systems sectors, United States Government, and National Laboratories.
INRAD OPTICS, INC. 
