Boston, MA 05/30/2013 (wallstreetpr) – The share prices of GeoOptix Inc. (NYSEMKT:GIG) had surged by 9.79 percent to close at $1.57 per share for the end of last trading session. The shares of the company had been trading in the range of $1.43 to $1.58 per share during the day before closing at $0.14 per share higher than the previous closing price.
First Quarter Financial Results
GeoOptix Inc. (NYSEMKT:GIG) had recently released its financial results for the first quarter of fiscal year, 2013 in which the revenues were reported at $6.9 million which was observed to be in line with the guidance released in February, 2013. The non-GAAP gross profit margin for GeoOptix Inc. (NYSEMKT:GIG) had reached a record high of 62 percent compared to the profit margin of 58 percent in the previous quarter and 54 percent in the same quarter of previous year.
The net loss of GeoOptix Inc. (NYSEMKT:GIG) for the first quarter was observed to be $2.6 million, which included the one time restructuring activity expense of $1.0 million and translates into $0.12 net loss per basic and diluted share.
GeoOptix Inc. (NYSEMKT:GIG) is involved in the supply of semiconductor and electro optical component products for enabling high speed end to end data streaming over optical fiber and wireless telecommunications and data communications networks across the globe. The 52 week high price level for the shares of GeoOptix Inc. (NYSEMKT:GIG) is at $2.80 per share and the 52 week low price level is at $0.83 per share. The company presently holds 22.33 million shares outstanding with an institutional ownership of 12 percent of its holdings.
