Profitable with Continued High Growth Rates in Aerosol Jet Sales
Albuquerque, New Mexico, 28 July 2009:Optomec, Inc., a privately held supplier of advanced manufacturing systems for the Solar, Semiconductor and SmartPhone markets, today announced a significant increase in year-on-year financial results. Sales Revenue for the first half of 2009 grew 75% over the same period in 2008. The Company also realized improvements in other notable metrics including an increase in Gross Margins, a substantial decrease in Operating Expense and a corresponding improvement in overall profitability.
Key to its success, Optomec reports that sales of its patented Aerosol Jet systems are growing at approximately 100% annually, as the solution is quickly gaining acceptance as an enabling technology for the production of high efficiency Solar Cells and other Printed Electronics applications. The Company now boasts a world-wide customer base of more than 60 companies, including many recognized leaders in the solar industry. Other emerging applications for the Aerosol Jet solution that are driving sales growth include fuel cells, 3D interconnects for stack die, touch screen displays, and medical implants.
Optomec is also experiencing continued demand for its LENS (Laser Engineered Net Shaping) systems used for the fabrication and repair of high performance metal components in the Aerospace and Defense industry. Notably, the Company shipped three LENS systems during the period, and now has more than 30 LENS users in locations that span the globe.
Dave Ramahi, Optomec President/CEO commented that “We feel very fortunate that we’ve been able to flourish despite the challenging economic backdrop. Our positive first half results are a testimony to the appeal of our emerging technologies, especially as our customers look to gain a competitive advantage that can simultaneously improve their products and reduce their manufacturing costs.”
Ramahi added, “Despite these encouraging results, we are acutely aware of the challenges that generally exist for equipment suppliers in a recession, and remain cautious going forward. We have taken steps to reduce our cost structure, and have focused discretionary investments on product enhancements that will position us well for continued high growth rates as the markets for production systems recover.”
Optomec is a technology rich supplier of additive manufacturing systems for high-performance applications in the Photovoltaic, Electronics, Biomedical, and Aerospace & Defense markets. These systems utilize Optomec’s proprietary Aerosol Jet printed electronics and LENS powder-metal fabrication technologies. The company has a global customer base of industry-leading manufacturers.