Profits up at laser system manufacturer

July 24--Excel Technology Inc. said sales and profits rose in the second quarter compared to the same period last year

July 24--Laser system manufacturer Excel Technology Inc. said today that sales and profits rose in the second quarter compared to the same period last year.

The company said it earned $4.5 million in the period, up from $4 million in the same quarter last year. EPS in the quarter was 37 cents, up from 32 cents in the year-ago period.

Antoine Dominic, the company's CEO, said in a statement that the company's earnings in the period were "solid." He said, "We have broadened our product offerings and continue to expand our global market presence by focusing on increasing our geographic reach to further extend our sales growth."

The company's plans last year to merge with Coherent was turned down by German anti-trust officials (click here for related article).

Excel said afterwards that it planned to grow internally through expanded product offerings and acquisitions.

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