Boston, MA 02/24/2014 (wallstreetpr) – Dynasil’s Corporation of America (NASDAQ:DYSL) has announced that its subsidiary has entered into an agreement with L-3 communication for the supply of high quality optical components. Dynasil’s Chief executive officer expects the partnership to be more beneficial to Dynasil in bringing Optometric technology into a whole new level in the highly technical and competitive industry.
Dynasil’s Corporation of America (NASDAQ:DYSL)’s chief maintains his company creative approach in development and production of optometric was the key reason behind the selection. The agreement is sure to be a growth platform for Dynasil as the company expects to provide products worth $4 million for the next three years. The selection of Dynasil by the world class company is seen as a testament of the strength the management team has been showing over the past few years.
Dynasil’s Corporation of America (NASDAQ:DYSL) specializes in the development and manufacturing of optical detection as well as analysis technology that is normally used by Homeland security.
Dynasil returns to profitability with a dwindling debt
Dynasil’s Corporation of America (NASDAQ:DYSL) first quarter results for the period ending December 31, 2014 was an impressive one, with net income for the period coming in at 1.46 million compared to a net loss of $379,000 for the same quarter a year earlier. The net income for the quarter included proceeds worth $1.19 million that was associated with the sale of the company’s lead paint and medical product business.
Dynasil’s Corporation of America (NASDAQ:DYSL) marked a return to profitability with its Q1 14 results, with the results being mired with a substantial decrease in the company senior debt. Net income for the first quarter was another positive for the company, which improved slightly from $10.6 million reported for the same quarter a year ago to a high of $10.7 million.
Some of the best performing sectors of the company included the Contract research segment which improved by 19% with revenue increasing to highs of $900,000. Instrument segment on other hand plummeted by 40% to come in at $500,000 mostly due to the sale of the lead paint business. Gross profit was another underperformer which dropped from a high of $4.6 million for the same quarter a year earlier to lows of $4.5 million.
Gross margins also decreased for the quarter to lows of 41.5% from a high of 43.8% same quarter a year earlier. Dynasil’s Corporation of America (NASDAQ:DYSL) plans to focus more on various commercializing opportunities as it tries to build on the profits reported in the first quarter.
