StockerYale reported financial results for the first quarter of 2009, with revenue of $6.3 million, down 22% year-over-year due to a strong US dollar and weak global demand. The company achieved a gross profit margin of 38% compared to 31% in Q1 2008 through higher margin product sales and cost reductions. While the operating loss was $0.9 million, EBITDA was near break-even at -$27,000 compared to a loss of $400,000 in Q1 2008. StockerYale expects continued challenges in the near future but believes medical and defense sales will increase in 2009 to offset weakness in other markets.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
1. STOCKERYALE REPORTS FIRST-QUARTER
2009 FINANCIAL RESULTS
First-Quarter 2009 Highlights:
1. Revenue of $6.3 million, impacted by strong U.S. dollar, down 22 percent, down 13%
adjusting for currency;
2. Gross profit of $2.4 million vs. $2.5 million;
3. Gross profit margin of 37.8%, up 7.3 points;
4. EBITDA neutral (excluding one-time $60,000 strategic consulting expense) vs. $0.4 million
loss; and, Operating Loss of $0.9 million versus $1.5 million;
5. Order bookings $6.1 million; ending backlog $9.0 million;
6. Implemented additional annualized cost savings in 2009 with cumulative annual benefit of
$3.4 million;
7. Industrial sales 75% of revenues, 15% medical and 10% defense;
8. Geographic sales - 59% North America, 36% Europe and 5% Rest of World;
9. Headcount declined 5% from 187 to 177.
Salem, N.H. — April 23, 2009 — StockerYale, Inc. (NASDAQ: STKR), a leading designer and
manufacturer of structured light lasers, LED modules and specialty optical fibers for industrial OEMs,
medical and defense markets, today announced its financial results for the first quarter ended March
31, 2009.
First Quarter 2009 Financial Results
Total revenues for the first quarter of 2009 of $6.3 million decreased 22 % (decreased 13%, adjusting
for currency) from the first quarter of 2008. The year-over-year decrease was due to lower sales of
$1.2 million at Photonic Products, Ltd, of which $0.5M was due to foreign currency exchange, and on
lower laser module sales of approximately $0.7M. Optical sales, including specialty optical fiber and
fiber assemblies, increased 6% to $1.0 million.
Bookings for the first quarter of 2009 were $6.1 million and backlog was $9.0 million at March 31,
2009. The backlog at quarter end is net of a $0.1 million negative adjustment for foreign currency
fluctuations.
Gross profit was $2.4 million for the first quarter of 2009, a 3% decrease compared to the $2.5 million
in the first quarter of 2008. First quarter 2009 gross margin was 38% compared with 31% in the
comparable year-ago quarter due to higher margin new product sales, improved productivity and the
effects of foreign currency exchange.
Operating expenses totaled $3.3 million for the first quarter of 2009, a decrease of 17% over the $4.0
million in the first quarter of 2008. The decreased operating expenses over 2008 were primarily due to
a $0.5 million reduction due to the effects of foreign currency exchange, and a reduction in
compensation and benefits due to actions taken late in December, 2008 and during the first quarter of
2009. Research and development (―R&D‖) expenses were flat, while sales and general and
administrative expenses declined 30% and 11%, respectively. The operating loss for the first quarter
was $0.9 million compared to an operating loss of $1.5 million for the first quarter 2008, a 41%
improvement. EBITDA for the quarter was $(27,000), including one-time consulting expenses of
$60,000, as compared to $(400,000) for the first quarter of 2008.
―While revenues were negatively impacted by both foreign exchange and weak global demand,
particularly in the automated inspection market, we were pleased with the growth in both medical and
defense sales in the quarter,‖ stated Mark W. Blodgett, Chairman & CEO of StockerYale. ―Defense and
bio-medical/medical sales increased 31% and 16% respectively during the quarter, and we expect
2. that trend to continue in 2009. Our EBITDA loss dropped from $0.4 million to break even despite 13%
lower sales on a currency adjusted basis, and reflected management’s focus on continuous operational
improvement, as well as the benefit of foreign currency exchange. We took steps late in the fourth
quarter of 2008 to reduce our annual cost structure by approximately $2.5 million without sacrificing
either our R&D initiatives or customer applications capabilities. In the first quarter of 2009, we took
additional steps to improve our cost structure by reducing another $0.9 million of annualized costs.‖
Outlook
―We expect the environment will remain difficult and volatile – at least for the near-term. We are very
focused on increasing market share, new customer development and customer retention, particularly
in the medical and bio-medical instrumentation fields. With our new line of custom fiber assemblies,
fiber coupled laser modules and patented beam shaping optics we are moving into production for
several of the world’s leading medical equipment, flow cytometry and cell sorting companies in 2009
and we expect medical/bio-medical sales to increase significantly in 2009 On the defense front we
expect defense sales as a percentage of total revenues to increase meaningfully in 2009, as
demonstrated in our Q1, 2009 results showing an increase over Q1, 2008 from 6.0% of total sales to
10.0% of total sales.‖ added Blodgett. ―While the business outlook remains challenging, our priorities
remain clear and achievable. We remain focused on selling new, higher margin products, and
aggressively seeking opportunities to further reduce the company’s cost structure, while improving the
Company’s balance sheet through effective working capital management and financing activities. We
have clearly seen the positive impact of our efforts on our financial results over the last year and the
economy notwithstanding, we expect the Company to continue to strengthen its product portfolio and
brand identity in the photonics industry,‖ concluded Blodgett.
Use of Non-GAAP Financial Measures
The Company provides non-GAAP financial measures, such as EBITDA, to complement its consolidated
financial statements presented in accordance with GAAP. Non-GAAP financial measures do not have
any standardized definition and, therefore, are unlikely to be comparable to similar measures
presented by other reporting companies. These non-GAAP financial measures are intended to
supplement the user's overall understanding of the Company's current financial and operating
performance and its prospects for the future. Specifically, the Company believes the non-GAAP results
provide useful information to both management and investors by identifying certain expenses, gains
and losses that, when excluded from the GAAP results, may provide additional understanding of the
Company's core operating results or business performance, which management uses to evaluate
financial performance for purposes of planning for future periods. However, these non-GAAP financial
measures are not intended to supersede or replace the Company's GAAP results.
The Company uses EBITDA (earnings before interest, taxes, depreciation and amortization) as a non-
GAAP financial measure in this press release. A reconciliation of EBITDA to net loss for the first quarter
of 2009 and 2008 are as follows:
Three Months Ended
March 31
2009 2008
-------------------
Net Loss (1,607) (2,166)
Income from discontinued operations (7) (21)
Plus
Interest expense (net) 421 466
Depreciation 436 520
Intangible asset amortization 196 330
Stock based compensation 242 276
Taxes (173) (61)
Amortization debt discount & financing costs 465 255
-------------------
3. EBITDA Loss (27) (401)
-------------------
Consolidated Statements of Operations
($ In thousands except share and per share data)
Three Months Ended
March 31,
2009 2008
------------ -------------
Net Sales $ 6,319 $ 8,062
Cost of Sales 3,929 5,603
------------ -------------
Gross Profit 2,390 2,459
------------ -------------
Research & Development Expenses 726 760
Selling, General & Administrative Expenses 2,369 2,896
Amortization of Intangible Assets 196 330
------------ -------------
Operating Loss (901) (1,527)
------------ -------------
Interest Income & Other Expense, net (104) (148)
Amortization of Debt Discount & Financing
Costs (465) (255)
Interest Expense (317) (318)
------------ -------------
Loss before taxes from Continuing
Operations (1,787) (2,248)
Tax benefit (173) (61)
------------ -------------
Net Loss from Continuing Operations (1,614) (2,187)
Income from Discontinued Operations 7 21
------------ -------------
Net Loss $ (1,607) $ (2,166)
============ =============
Loss Per Share
Loss from Continuing Operations ($0.04) ($0.06)
Income/(Loss) from Discontinued Operations ($0.00) ($0.00)
------------ -------------
Net Loss Per Share ($0.04) ($0.06)
------------ -------------
Weighted Average Shares Outstanding 42,638,226 36,726,612
Consolidated Condensed Balance Sheets
March 31 December 31
ASSETS 2009 2008
------------ -------------
Cash $ 1,199 $ 1,635
Other Current Assets 8,015 8,112
Property, Plant & Equipment, Net 8,045 8,496
Other Assets 9,209 9,199
------------ -------------
$ 26,468 $ 27,442
============ =============
LIABILITIES AND STOCKHOLDERS EQUITY
4. Total Current Liabilities $ 15,860 $ 15,642
Long Term Debt 5,874 5,954
Long Term Lease and Other Liabilities 3,755 3,858
Stockholders Equity 979 1,988
------------ -------------
Total Liabilities & Stockholders Equity $ 26,468 $ 27,442
============ =============
ABOUT STOCKERYALE
StockerYale, Inc., headquartered in Salem, New Hampshire, is an independent designer and
manufacturer of structured light lasers, LED modules, and specialty optical fibers for industry leading
OEMs. In addition, the company manufactures fluorescent lighting products and phase masks. The
Company serves a wide range of markets including the machine vision, industrial inspection, defense,
telecommunication, sensors, and medical markets. StockerYale has offices and subsidiaries in the
U.S., Canada, and Europe. For more information about StockerYale and their innovative products, visit
the Company's web site at www.stockeryale.com
SAFE HARBOR 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 StockerYale'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 StockerYale to meet all of its business goals; uncertainty that StockerYale'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 StockerYale'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. You
should also refer to the discussion under quot;Factors Affecting Operating Resultsquot; in StockerYale's annual
report on Form 10-K and the Company’s quarterly reports on Form 10-Q for additional matters to be
considered in this regard. Thus, actual results may differ materially. All Company, brand, and product
names are trademarks or registered trademarks of their respective holders. StockerYale undertakes
no duty to update any of these forward-looking statements.
Contact
StockerYale, Inc.
Mark W. Blodgett, 603-898-8778
IRInfo@stockeryale.com
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