SINGAPORE, April 29, 2016 /CNW/ - Zecotek Photonics Inc.
(TSX-V: ZMS; Frankfurt: W1I.F,
OTCPK: ZMSPF), a developer of leading-edge photonics
technologies for industrial, healthcare and scientific markets,
today reported preliminary unaudited revenue for the third quarter
ending April 30, 2016. Sales for the
third quarter were $685,452, a
ninefold increase from $70,149 posted
in the same time period last year. Unaudited revenue for the nine
months ending April 30, 2016
increased $1,288,726 to $1,532,406 from $243,680 in fiscal 2015.
"Our revenue growth is gaining momentum as we generate more
revenue through the sales of our patented LFS scintillation
crystals," said Dr. A.F. Zerrouk,
Chairman, President, and CEO of Zecotek Photonics Inc. "Our
business continues to grow as PET medical device OEMs, homeland
security companies and scientific organizations are choosing high
performance LFS crystals for their programs. In the third quarter
of fiscal 2016 we received orders for our LFS crystals from all
three sectors: CERN ordered LFS crystals for its PET medical device
program, a Chinese OEM ordered LFS crystals for new line of PET
medical scanners, and an OEM ordered LFS crystals for advanced
radiation monitoring and detection devices it is developing. These
organizations recognize the superiority of our crystals, the
reliability our product and our supply. The Beijing
Opto-Electronics Technology Company is increasing their production
capacity to deliver our LFS crystals to the growing market. We have
over $2 million of orders booked and
continue to be actively building on the strong momentum. Moving
forward Zecotek Imaging Systems will continue to experience revenue
growth with the addition of revenue from the sales of our latest
version of MAPD/MAPT photo detectors as they become available this
summer. We are very much looking forward to capture a major portion
of the imaging industry market."
About Zecotek
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, 3D metal printing, 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, 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.