SINGAPORE, Feb. 2, 2016 /CNW/ - Zecotek Photonics Inc.
(TSX-V: ZMS; Frankfurt: W1I;
OTCPK: ZMSPF), a developer of leading-edge photonics
technologies for industrial, healthcare and scientific markets,
today reported preliminary unaudited revenue for the second
quarter ended January 31, 2016. Sales
for the second quarter were a record $622,817, a threefold increase from
$149,589 recorded in the first
quarter of fiscal 2016, and a sevenfold increase compared to the
same time period last year. Unaudited revenue for the six months
ending January 31, 2016 increased
$598,875 to $772,406 from $173,531 for fiscal 2015.
"In the second quarter of 2016, we recorded more revenue than
ever before due to sales of our patented LFS scintillation crystals
to PET medical scanning device OEMs," said Dr. A.F. Zerrouk, Chairman, President, and CEO
of Zecotek Photonics Inc. "Our business is growing steadily as
OEM's are now switching to new high performance crystals for better
resolution imaging. Our network of strategic partners is reaching a
broad segment of the marketplace. Medical scanning device OEMs,
high energy physics labs, educational institutions and security
organizations have recognized the superiority of our crystals. We
have over $3.2 million of orders booked and we are hard at
work adding to the total number, by developing relationships with
the industry at large and more specifically the fast growing
Chinese PET OEMs. Our crystal manufacturing partner, the Beijing
Opto-Electronics Technology Company, have increased their
production capacity to deliver our LFS crystals to the growing
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, 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 and joint ventures with leading industry
partners including Hamamatsu Photonics (Japan), 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.