ORLANDO - Laser Photonics Corporation (NASDAQ: LASE), a notable player in the industrial laser systems market, has announced a new order from defense contractor L3Harris Technologies (NYSE:LHX), Inc. for its LaserTower COMPACT marking and engraving system. The system will be utilized at L3Harris's semiconductor division located in Palm Bay, Florida.
Laser Photonics' CEO, Wayne Tupuola, expressed enthusiasm about the collaboration, emphasizing the company's dedication to innovation and the expectation that their solutions will bolster L3Harris's operational capabilities. The LaserTower COMPACT system is designed for industrial-grade laser marking, engraving, and etching, suitable for various materials. It is noted for its 'plug-and-play setup, durability, and user-friendly operation.
L3Harris Technologies, recognized for its solutions across multiple domains including command and control, precision munitions, and avionics, will incorporate the LaserTower COMPACT into its processes, which is expected to contribute to more advanced technological applications within its operations.
Laser Photonics prides itself on its vertically integrated manufacturing and R&D capabilities, aiming to revolutionize traditional surface cleaning and preparation markets with its laser technologies. The company has been gaining traction within industries such as aerospace, automotive, defense, and energy, offering systems that address health, safety, and environmental concerns associated with older methods.
This transaction between Laser Photonics and L3Harris Technologies signifies a strategic step for both companies, with LPC providing a system that aligns with the defense contractor's commitment to maintaining a technologically advanced and secure operation.
This information is based on a press release statement from Laser Photonics Corporation.
InvestingPro Insights
In light of Laser Photonics Corporation's (NASDAQ: LASE) recent announcement of a new order from L3Harris Technologies, investors may find the following insights from InvestingPro valuable. With a market capitalization of approximately $11.8 million, Laser Photonics is a smaller player in the industrial laser systems market, but its financial metrics and analyst outlook provide a nuanced picture of the company's position.
An InvestingPro Tip highlights that analysts are anticipating sales growth in the current year, which could be a positive sign for investors looking for growth potential. Additionally, the company's gross profit margins are impressive, standing at 68.72% for the last twelve months as of Q3 2023. This suggests that Laser Photonics is effective in managing its cost of goods sold and could have a competitive edge in its operational efficiency.
However, it's important to note that the company is not profitable over the last twelve months, with an operating income margin of -95.5% for the same period. This indicates significant operating expenses relative to revenue, which could be a concern for potential investors.
InvestingPro Data also reveals that the stock has experienced high price volatility and has fared poorly over the last month, with a -25.52% return, although it has shown a strong return over the last three months at 38.83%. The current price is at 31.35% of its 52-week high, with a previous close at $1.43.
For those intrigued by these insights, InvestingPro offers additional InvestingPro Tips that delve deeper into the company's financial health and market performance. To explore these further and make more informed investment decisions, consider using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 11 more tips available on InvestingPro that could give investors a more comprehensive understanding of Laser Photonics Corporation's prospects.
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