Laser Precision Shows Record Quarterly Profit

Laser Precision Corp., an Irvine manufacturer of industrial lasers, reported record third-quarter profits last week of $584,679, up from a loss of $97,201 for the year-ago period.

Third-quarter revenue was $4.5 million, contrasted with a $2.1-million loss posted for the same quarter a year ago.

For the first nine months, the company posted net income of $823,749, contrasted with year-earlier losses of $390,662. Revenues for the period climbed 70% to $10.9 million, from $6.4 million.

Laser Precision officials attributed the turnaround to increased sales, particularly of new analytical instrument products introduced at the end of the quarter.

Laser Precision finished last year with a $340,000 loss.