GARDNER, Mass., Aug. 6, 2019 /PRNewswire/ -- Precision Optics Corporation, Inc. (OTCQB: PEYE) ("Precision Optics"; the "Company"), a leading manufacturer of advanced optical instruments for the medical and defense industries, has engaged one of the country's leading investor relations firms, Lytham Partners, LLC to lead a strategic investor relations and shareholder communication
For more than 20 years, Lytham Partners has been one of the country's leading investor relations firms, having created one of the industry's largest and most diverse networks of institutional investors, while creating a framework of best practices in all aspects of corporate and shareholder communications. In addition to their relationships with many of the industry's most respected institutional investors, Lytham Partners has spent the past two decades creating an integrated platform that allows its clients far reaching exposure to investors in a consistent and in-depth format. This platform is matched with a communications and positioning approach that is streamlined throughout press releases, conference calls, investor presentations, corporate profiles, and websites.
Joe Forkey, President and CEO of Precision Optics, commented, "Over the last few years, the strategic decisions Precision Optics made to work closely with a number of key medical device companies at the very early design stage of projects, lending our expertise in proprietary micro-optics and 3D imaging technologies, is beginning to pay off. Many of these projects have moved to commercial production over the last few quarters providing the company with increasing sales, and an expanding backlog. Further, our recent acquisition of Ross Optical in July 2019 allows the combined company to leverage Precision Optics' historical technical proficiency in offering end-to-end solutions, from design through production, to the expansive Ross Optical customer base, increasing our value-add capabilities."
Forkey continued, "Given the progress we have made, we believe the time is appropriate to expand our presence within the national investment community. Lytham Partners has a tremendous track record working with companies at our stage of development to refine our messaging, expand our investor base, and enact best practices to our investor communications program."
Driven by the ongoing success of development projects that transitioned to commercial production during the last year, Precision Optics production revenues increased 209% during the most recent third quarter ended March 31, 2019, and up 15% sequentially. In addition to the products that have recently moved to commercialization, the Company's pipeline continues to advance with a number of projects moving closer to commercialization that could drive growth over the coming years. Moreover, the July 2019 acquisition of Ross Optical, which reported revenues of $3.9 million and net income of $410,000 for the 12-month period ended December 31, 2018, should provide a number of opportunities to leverage each others respective strengths to expand their combined customer relationships, and to develop new ones, based on the broader offerings of the combined company, particular in the defense sector.
Robert Blum, Co-Founder and Managing Partner of Lytham Partners, LLC, said, "Joe and the team at Precision Optics have done a tremendous job focusing the company to take advantage of its highly differentiated capabilities within the optics industry. We look forward to introducing the Company to our platform of investors, while installing best practices within their communications program at all levels to keep shareholders apprised of the developments taking place at the company."
To sign up for alerts on Precision Optics, please email or call Robert Blum at PEYE@lythampartners.com or 602-889-9700.
About Precision Optics CorporationPrecision Optics Corporation has been a leading developer and manufacturer of advanced optical instruments since 1982. Using proprietary optical technologies, the Company designs and produces next generation medical instruments, Microprecision™ micro-optics with characteristic dimensions less than 1 millimeter, and other advanced optical systems for a broad range of customers including some of the largest global medical device companies. The Company's innovative medical instrumentation line includes state-of-the-art endoscopes and endocouplers as well as custom illumination and imaging products for use in minimally invasive surgical procedures. The Company believes that current advances in its proprietary micro-optics and 3D imaging technologies present significant opportunities for expanding applications to numerous potential medical products and procedures. The Company's website is www.poci.com. Investors can find Real-Time Quotes and market information for the Company on www.otcmarkets.com/stock/PEYE/quote.
About Forward-Looking StatementsThis press release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express the Company's intentions, beliefs, expectations, strategies, predictions or any other statements related to the Company's future activities or future events or conditions. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by the Company's management. These statements are not guarantees of future performances and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks discussed in the Company's annual report on Form 10-K and in other documents that we file from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this report, except as required by law.
Company Contact: PRECISION OPTICS CORPORATION22 East BroadwayGardner, Massachusetts 01440-3338Telephone: 978-630-1800
Investor Contact:LYTHAM PARTNERS, LLCRobert BlumPhoenix | New YorkTelephone: firstname.lastname@example.org
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SOURCE Precision Optics Corporation
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