SINGAPORE, Aug. 20, 2015 (GLOBE NEWSWIRE) -- Zecotek Photonics Inc. (TSX-V:ZMS) (Frankfurt:W1I) (OTCPK:ZMSPF), a developer of leading-edge photonics technologies for industrial, healthcare and scientific markets, today announced preliminary unaudited revenue for fiscal 2015 ended July 31, 2015.
Sales for the fourth quarter were a record $210,109, an increase of 200% from the immediately preceding third quarter of fiscal 2015 of $70,149. Total unaudited revenue for fiscal 2015 increased 424% to $453,788 as compared to $86,535 for fiscal 2014.
"With almost $500,000 of LFS scintillation crystals revenue generated in fiscal 2015, Zecotek Imaging Systems' sales are gaining momentum and, so far, for fiscal 2016 we have confirmed orders for over $2.9 million," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc. "The majority of LFS crystals sales are to PET medical devices OEMs. Sales are also made to research groups working on new generation scanners, high energy physics and security. In expectation to accelerating demand, our crystal manufacturer, the Beijing Opto-Electronics Technology Company (BOET), is expanding its operation three fold by adding additional crystal growing ovens to its operations. BOET is currently fulfilling orders and we are very pleased to be receiving the necessary high-quality end product from our manufacturing partner. Our customers are recognizing the value presented in the quality our products and we expect sales to continue to grow. The entire Imaging team is building on its hard work in achieving this important milestone to secure larger contracts and promoting the use of LFS in the Imaging industry."
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, 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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