ProPhotonix Limited AGM Statement-May 19, 2016 (5217Y)

TIDMPPIX

RNS Number : 5217Y

ProPhotonix Limited

19 May 2016

May 19, 2016

ProPhotonix Limited

("ProPhotonix" or "the Company")

AGM Statement

ProPhotonix Limited (London Stock Exchange - AIM: PPIX, OTC: STKR), a high technology designer and manufacturer of LED illumination systems and laser diode modules, with operations in Ireland and the United Kingdom, is holding its AGM at 2:00pm today, at which the President and CEO, Tim Losik, will make the following statement:

"2015 was a successful year for ProPhotonix even in the face of strong economic and foreign exchange headwinds. The Company had its first full year of positive net income since 1994, also achieved five consecutive half-yearly periods of positive EBITDA and three consecutive half-yearly periods of positive operating income. During 2015, operating income increased sevenfold and EBITDA increased by 84%.

In addition, the ProPhotonix team has been diligently pursuing new customers and new product and market initiatives, which has resulted in an encouraging 2016 to date. The Company received production orders from three customers who had signed three year supply agreements during 2015. ProPhotonix has also enlarged its UV product family to include the COBRA Cure FX1 and the COBRA Cure FX2, innovative UV LED Curing systems.

The Board remains positive about the business pipeline and confident in our ability to achieve continued positive momentum toward our profitability objectives."

Enquiries:

 
 ProPhotonix Limited               Tel: +1 603 893 8778 
  Tim Losik, President and CEO      ir@prophotonix.com 
 Stockdale Securities Limited      Tel: +44 (0) 20 7601 
  Tom Griffiths and David Coaten    6100 
 Nominated Adviser and Broker

About ProPhotonix

ProPhotonix Limited, headquartered in Salem, New Hampshire, is a high technology designer and manufacturer of diode-based laser modules and LED systems for industry leading OEMs and medical equipment companies. In addition, the Company distributes premium diodes for Ushio (formerly Oclaro), Osram, QSI, Panasonic, and Sony. The Company serves a wide range of markets including the machine vision, industrial inspection, security, and medical markets. ProPhotonix has offices and subsidiaries in the U.S., Ireland, U.K., and Europe. For more information about ProPhotonix and its innovative products, visit the Company's web site at www.prophotonix.com

Cautionary Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact, including without limitation, those with respect to ProPhotonix's goals, plans and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: uncertainty that cash balances may not be sufficient to allow ProPhotonix to meet all of its business goals; uncertainty that ProPhotonix's new products will gain market acceptance; the risk that delays and unanticipated expenses in developing new products could delay the commercial release of those products and affect revenue estimates; the risk that one of our competitors could develop and bring to market a technology that is superior to those products that we are currently developing; and ProPhotonix's ability to capitalize on its significant research and development efforts by successfully marketing those products that the Company develops. Forward-looking statements represent management's current expectations and are inherently uncertain. All Company, brand, and product names are trademarks or registered trademarks of their respective holders. ProPhotonix undertakes no duty to update any of these forward-looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 19, 2016 02:00 ET (06:00 GMT)

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