• Spectra-Physics income drops

    Spectra-Physics Lasers (Mountain View, CA) reported a slight increase in sales and a drop in net income for the third quarter of FY1998, ended Sept 30. Sales were $39.7 million, up from $39.6 million in the third quarter of 1997. Net income was $2.3 million, or $0.14 per diluted share, down from $20.7 million, or $1.59 per diluted share, in the same period last year. The company said income from ongoing operations in the third quarter of 1997 was only $2.1 million, or $0.16 per diluted share. Th
    Dec. 1, 1998

    Spectra-Physics income drops

    Spectra-Physics Lasers (Mountain View, CA) reported a slight increase in sales and a drop in net income for the third quarter of FY1998, ended Sept 30. Sales were $39.7 million, up from $39.6 million in the third quarter of 1997. Net income was $2.3 million, or $0.14 per diluted share, down from $20.7 million, or $1.59 per diluted share, in the same period last year. The company said income from ongoing operations in the third quarter of 1997 was only $2.1 million, or $0.16 per diluted share. That number includes the effects of the reversal of performance-based stock-option plans and interest on loans and advances, which were converted to equity as part of Spectra-Physics`s initial public offering in December 1997. Company president Patrick L. Edsell called the business environment challenging. He said Spectra-Physics is trying to control costs and focus research and development on areas that will bring in money in the short term.

    Sign up for Laser Focus World Newsletters
    Get the latest news and updates.

    Voice Your Opinion!

    To join the conversation, and become an exclusive member of Laser Focus World, create an account today!