Continued Strong Growth in Aerosol Jet Sales
Albuquerque, New Mexico, 22 October 2009: Optomec, Inc., a privately held supplier of advanced manufacturing systems for the Electronics, Solar and Aerospace markets today announced a record level of new orders for its third quarter, ended September 30, 2009. Optomec’s Aerosol Jet product line spearheaded the continued high growth rates, with an increase in Bookings of 155% compared to the same period in 2008. The Company anticipates that the trend will continue into the fourth quarter, which will result in record bookings for 2009.
Year to Date Sales Revenue is up 65% compared to last year and the Company is also realizing improvements in other notable metrics including an increase in gross margins, a decrease in operating expense and an improvement in overall profitability. Furthermore, Optomec reports that Backlog levels are in excess of 6 months.
Key to its growth, Optomec reports that sales of its patented Aerosol Jet systems are gaining momentum as the solution is being adopted for the production of a variety of high value end products, including high efficiency Solar Cells, Fuel Cells and Medical Devices. Optomec is also experiencing continued demand for its LENS systems used for the fabrication and repair of high performance metal components in the Aerospace and Defense industry. The Company now boasts a world-wide customer base of more than 100 companies in more than a dozen countries.
“While the past year has had its obvious challenges, we are very encouraged by the recent positive trend in building our business” noted Dave Ramahi, Optomec president and CEO. “Looking back, the recession appears to have had its major impact for us during the latter half of 2008 and early 2009. We did respond with broad cost-cutting measures, and have been able to maintain profitability during 2009, even as we continue to invest in developing higher throughput production solutions for target markets like Solar. More recently, however, we have seen a noticeable increase in the commercial demand for our products, as we just closed a record quarter in terms of new order bookings. These improvements in sales trends are being driven by our entry into many promising new markets, including Touch Screen Displays and Smart Phones, where we are fortunate to be working with recognized industry leaders.”
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 leading manufacturers.