Sliver of light III: UK laser manufacturer predicts strong 2009
Global operations expansion provides platform for a strong 2009 for Powerlase
Powerlase Ltd. (Crawley, England), manufacturers of nanosecond Q-switched, diode-pumped solid state (DPSS) lasers, announced significant business growth for the year ending 31st December 2008. A 90 percent increase in company bookings at year end has led Powerlase to predict a potential revenue increase of 250 percent during 2009.
Despite a worsening financial climate, company revenues in 2008 matched those of the previous year. However net operating performance was significantly better than previous years as a direct result of tight cost control and improved operating efficiencies. This improvement, combined with the increase in bookings, puts Powerlase in a strong position for 2009.
During 2008, Powerlase strengthened its business position by developing innovative lasers and processes for emerging markets. A slowdown in the FPD marketplace, where Powerlase supplies lasers for 60% of the global plasma television production, led to research into photovoltaic (PV) and AMOLED display sectors. A new range of green lasers, specifically designed to address solar cell edge deletion, laser micro-machining in automotive and laser annealing in AMOLED manufacture, has resulted in increased sales revenue projections for 2009.
"By the end of 2007 we'd seen a significant slowdown in the global FPD market, which was one of our main revenue streams" explains Les Lockwood, CEO at Powerlase. "As such, we've consolidated our FPD strengths, whilst designing applications for the photovoltaic, laser micro-machining in automotive and OLED display markets. Positive reaction from our customers has resulted in record bookings in 2008."
The company has expanded its global footprint in 2008. A strategic partnership with French fiber laser manufacturer Eolite widened the number of applications the combined companies can address, increasing its share in the European photonics industry. Powerlase also established a wholly-owned office in Japan, in addition to existing facilities in the UK and Korea and strategic partnerships in the US.
"The opening of the Japanese facility and the partnership with Eolite has put us in a very strong position to address today's and tomorrow's customers across the globe. We're looking forward to a healthy 2009 for Powerlase and our customers."
For more information, visit www.powerlase.com.