SALEM, NH — (Marketwired) — 03/19/15 — (OTC PINK: STKR) (LSE: PPIX) (LSE: PPIR)
(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.
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.
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
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