SINGAPORE, Feb. 2, 2016 /PRNewswire/ - Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I; OTCPK: ZMSPF), a developer of leading-edge photonics technologies for industrial, healthcare and scientific markets, today reported preliminary unaudited revenue for the second quarter ended January 31, 2016. Sales for the second quarter were a record $622,817, a threefold increase from $149,589 recorded in the first quarter of fiscal 2016, and a sevenfold increase compared to the same time period last year. Unaudited revenue for the six months ending January 31, 2016 increased $598,875 to $772,406 from $173,531 for fiscal 2015.
"In the second quarter of 2016, we recorded more revenue than ever before due to sales of our patented LFS scintillation crystals to PET medical scanning device OEMs," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. "Our business is growing steadily as OEM's are now switching to new high performance crystals for better resolution imaging. Our network of strategic partners is reaching a broad segment of the marketplace. Medical scanning device OEMs, high energy physics labs, educational institutions and security organizations have recognized the superiority of our crystals. We have over $3.2 million of orders booked and we are hard at work adding to the total number, by developing relationships with the industry at large and more specifically the fast growing Chinese PET OEMs. Our crystal manufacturing partner, the Beijing Opto-Electronics Technology Company, have increased their production capacity to deliver our LFS crystals to the growing market.
Zecotek Photonics Inc (TSX-V: ZMS; Frankfurt: W1I) is a photonics technology company developing high-performance scintillation crystals, photo detectors, positron emission tomography scanning technologies, 3D auto-stereoscopic displays, and lasers for applications in medical, high-tech and industrial sectors. Founded in 2004, Zecotek operates three divisions: Imaging Systems, Optronics Systems and 3D Display Systems with labs located in Canada, Korea, Russia, Singapore and U.S.A. The management team is focused on building shareholder value by commercializing over 50 patented and patent pending novel photonic technologies directly and through strategic alliances and joint ventures with leading industry partners including Hamamatsu Photonics (Japan), the European Organization for Nuclear Research (Switzerland), Beijing Opto-Electronics Technology Co. Ltd. (China), NuCare Medical Systems (South Korea), the University of Washington (United States), and National NanoFab Center (South Korea). For more information visit www.zecotek.com, and follow @zecotek on Twitter.
This press release may contain forward-looking statements that are based on management's expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what may have been stated.
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SOURCE Zecotek Photonics Inc.