Precision Optics Corporation, Inc. ( (POCI) ) has released its Q2 earnings. Here is a breakdown of the information Precision Optics Corporation, Inc. presented to its investors.
Precision Optics Corporation, Inc., based in Gardner, Massachusetts, is a company specializing in the development and manufacturing of advanced optical instruments, primarily for the medical sector, with a focus on endoscopic and imaging systems.
In its latest earnings report, Precision Optics Corporation reported a decrease in revenue for the quarter ended December 31, 2024, compared to the same period last year. The company highlighted its ongoing efforts in research and development to enhance its product offerings, despite a challenging financial quarter.
The company reported total revenues of $4.53 million for the quarter, a 6.2% decline year-over-year. The decrease was attributed to reduced demand for engineering design services and finished products, although this was partially offset by a significant increase in optical components sales. Gross profit margins also decreased, impacted by the change in product sales mix and lower revenues.
Precision Optics experienced increased research and development expenses, reflecting its commitment to advancing its technology, especially in single-use medical devices. Meanwhile, selling, general, and administrative costs decreased, primarily due to lower bad debt expense and stock-based compensation.
Looking ahead, Precision Optics management remains cautiously optimistic about future growth. The company is focusing on expanding its customer pipeline and development projects, despite acknowledging potential short-term financial challenges. Management believes that their strategic initiatives and cash resources will support the company’s operations over the coming year.