ORLANDO, Fla., May 14, 2024 – Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, announced today that it received an order for its CleanTech 500-CTHD laser cleaning system from E.S. Fox Limited for use by Bruce Power in Ontario, Canada, the operator of the largest functioning nuclear power plant in North America. The Power Workers’ Union and The Society of United Professionals, the power company’s two employee unions, were both active participants in the decision-making regarding the purchase.
“Our laser cleaning technology is a clear choice for nuclear industry enterprises, as it provides a practice that is safe for the environment and workers, which is the primary reason that the environmentally conscious and socially responsible E.S. Fox, Bruce Power and the two power company labor unions chose our laser systems for operations,” said Wayne Tupuola, CEO of Laser Photonics. “For Bruce Power, the unions and E.S. Fox, one of the specifically stated objectives in purchasing our CleanTech system is to set an example for other nuclear power plants and unions who have not yet made the move to use next-generation laser equipment.”
Bruce Power has deliberately chosen to be an industry early adopter, recognizing that laser cleaning contributes to safer and more efficient maintenance at nuclear facilities. They strongly desire to encourage others in the industry to make the change from traditional abrasive blasting methods to laser cleaning systems, which allow for selective layer stripping while causing no damage to the substrate and underlying material. Cleaning with LPC’s CleanTech laser systems requires no chemicals or additives, minimizing secondary waste and reducing health risks for operators.
E.S. Fox’s Nuclear Services division has contributed millions of hours in support of Ontario’s nuclear power industry, providing clients such as Bruce Power with streamlined solutions for detailed engineering, procurement, fabrication, construction and maintenance. Having purchased the laser system on behalf of the company, E.S. Fox will train and collaborate with Bruce’s employee unions and members in using LPC’s CleanTech system during Bruce Power‘s Vacuum Building Outage (VBO) program, which began in April 2024. The program temporarily removes all four of Bruce B’s nuclear operating units from service for refurbishment to ensure that required maintenance and inspection work can be carried out safely and successfully by the power company and its partners.
Vacuum buildings are unique to Bruce Power’s generating stations and are part of its robust safety system, providing an additional protective barrier to the release of radioactivity to the environment. All four operating units must be shut down approximately once every decade to allow for these vacuum building inspections and maintenance.
For more information about the CleanTech line of laser cleaning systems, please visit https://www.cleantechlaser.com/ or contact our sales department at [email protected].
About Laser Photonics Corporation
Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. Laser Photonics’ new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental and regulatory issues associated with old methods. As a result, Laser Photonics has quickly gained a reputation as an industry leader in industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using Laser Photonics’ “unique-to-industry” systems. For more information, visit https://www.laserphotonics.com.
About E.S. Fox, Ltd.
Established in 1934 as a small plumbing and heating company, today E.S. Fox Limited is recognized as Canada’s preeminent multi-trade industrial, commercial, institutional and energy constructor and fabricator. E.S. Fox Limited works in the sectors of oil and gas, petrochemical, mining, pulp and paper, steel, automotive, nuclear, power generation, pharmaceutical, casinos, hotels, hospitals, schools, and themed entertainment, proving environmentally conscious, socially responsible engineering, procurement and construction (EPC) services.
About Bruce Power
Bruce Power is an electricity company based in Bruce County, Saugeen Ojibway Nation Territory, Ontario. Its 4,200 employees are the foundation of its accomplishments and are proud of the role they play in safely delivering clean, reliable nuclear power to families and businesses across the province and cancer-fighting medical isotopes around the world. Formed in 2001, Bruce Power is a Canadian-owned partnership of TC Energy, OMERS, the Power Workers’ Union and The Society of United Professionals. It is Canada’s only private sector nuclear generator, annually producing 30 per cent of Ontario’s power.
Investor Relations Contact:
[email protected]
Contact:
Karla Kizzort
Marketing Specialist
Laser Photonics Corporation
[email protected]
Revenue increased 10%; reduced operating loss by 39%; reduced net loss and diluted loss per share by 57% each
ORLANDO, FL / May 14, 2024 / Laser Photonics Corporation (NASDAQ: LASE), (“LPC”), a leading global developer of CleanTech laser systems for laser cleaning and other material applications, today announced results for its first quarter ended March 31, 2024.
Wayne Tupuola, CEO of Laser Photonics, commented: “Our first quarter generally showed positive momentum with 10% revenue growth and significant operating and net loss reductions. Despite CleanTech making up over 80% of sales, our gross margin was down from last year as we sold several lower power systems in the quarter. Now that we’ve ramped our sales and marketing resources, our next priority is to refine our production processes and improve the cost efficiency of our manufacturing operations, which should drive improvements to our cost of goods sold in time.”
First Quarter Financial Highlights (FY24 vs FY23)
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- Revenue increased 9.9% to $0.7 million;
- Gross Profit decreased 4.9% to $0.4 million; Gross Margin decreased to 52.0% from 60.1%;
- GAAP Operating loss decreased 39.2% to ($0.5) million versus ($0.9) million;
- GAAP Net Loss and Loss per Share decreased 56.6% to ($0.5) million and 57.1% to ($0.06) versus ($1.3) million and ($0.14), respectively.
| 2024 Select Financial Metrics Versus 2023 | |||
| (in $M except for EPS) | 1Q24 | 1Q23 | Change |
| Revenue | $0.7 | $0.7 | 9.9% |
| Gross Profit | $0.4 | $0.4 | -4.9% |
| Gross Margin | 52.0% | 60.1% | |
| Operating Loss | ($0.5) | ($0.9) | 39.2% |
| Net Loss | ($0.5) | ($1.3) | 56.6% |
| Diluted Loss per Share (EPS) | ($0.06) | ($0.14 | 57.1% |
*numbers may not add due to rounding
First Quarter Business Highlights
Announced Customer Orders
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- Pima Air & Space Museum acquired a CleanTech LPC-1000-CTHS Laser Cleaning System
- Liberty Utilities acquired a Markstar Pro Laser Marking System
- Mine System Solutions acquired a CleanTech LPC-3000-CTHD and a MarkStar Pro Laser Marking System
- Sustainable Solutions Co., Ltd. acquired a CleanTech LPC-500-CTHD Laser Cleaning System
- Karavan Trailers, LLC acquired a CleanTech LPC-1500-CTHD Laser Cleaning System
Distribution Agreements
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- Signed a distribution agreement for laser cleaning and personal protective equipment with the Fastenal Company, one of the country’s largest industrial distributors
- Established a sales and distribution agreement with Incredible Supply and Logistics (ISL), a leading national marketer and distributor to the U.S. Government and DoD
Conference Call and Webcast Information
Management will host a conference call and webcast to review the Company’s results. Investors can submit questions ahead of time to [email protected].
Conference Call Date/Time: Tuesday, May 14, 10:00 a.m. Eastern Time
Toll Free: 1-877-407-3982
Toll/International: 1-201-493-6780
Call me™ Call me™
-
- Participants can use guest dial-in numbers above and be answered by an operator OR click the Call me™ link for instant telephone access to the event. The Call me™ link will become active 15 minutes before the scheduled start time.
Webcast Location: https://viavid.webcasts.com/starthere.jsp?ei=1671875&tp_key=7948928750
Replay
Toll Free: 1-844-512-2921
Toll/International: 1-412-317-6671
Replay Pin Number: 13746685
Replay Start: Tuesday, May 14, 2023, 12:00 p.m. ET
Replay Expiry: Tuesday, May 28, 2023, at 11:59 p.m. ET
About Laser Photonics Corporation
Laser Photonics is a vertically-integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. LPC seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. LPC’s new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental, and regulatory issues associated with the old methods. As a result, LPC has quickly gained a reputation as an industry leader for industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using LPC’s “unique-to-industry” systems. For more information, visit www.laserphotonics.com.
Cautionary Note Concerning Forward-Looking Statements
This press release contains “forward-looking statements” (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), including statements regarding the Company’s plans, prospects, potential results and use of proceeds. These statements are based on current expectations as of the date of this press release and involve a number of risks and uncertainties, which may cause results and uses of proceeds to differ materially from those indicated by these forward-looking statements. These risks include, without limitation, those described under the caption “Risk Factors” in the Registration Statement. Any reader of this press release is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release except as required by applicable laws or regulations.
Laser Photonics Investor Relations Contact:
[email protected]
ORLANDO, Fla., May. 9, 2024 – Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of laser systems for cleaning and other material processing applications, announces the upcoming launch of its new website, which will feature enhanced navigation, AI integration and an improved chat bot to optimize user access to all information of interest. The website will give visitors improved access to the company’s offerings while providing professionals in the industry with educational and technical resources. The redesign will amplify the website’s functionality and user-friendliness while introducing a visually appealing interface that enhances the overall experience for new visitors and loyal customers. LPC welcomes everyone to explore its new website at www.laserphotonics.com when it is fully launched on May 13, 2024.
“We’ve been laser-focused on revamping our website to provide our community with instant access to essential laser-related content and information,” said Wayne Tupuola, CEO of Laser Photonics. “The new website boasts intuitive navigation, optimized loading times and improved ranking potential. Now, visitors can quickly find the products and technical information they seek, along with thought leadership material.”
LPC’s continuously expanding library of content provides descriptions of industry-specific use cases, practical applications, educational materials for mastering laser systems and overviews of the company’s products and services. On the new website, visitors will be able to find key information on laser solutions for their unique needs, discover the benefits of LPC’s technologies, and learn about the company. They will also be able to view the corporation’s press releases, events calendar, media mentions and blog posts. The enhanced investor relations section will offer interactive investor tools, investor-relevant news and media mentions.
The solution and application sections of the new website will address LPC’s main industries of focus: automotive, aerospace, defense, maritime, nuclear, space, energy and battery manufacturing. Each section offers a wide range of product information, case and application examples, explanations of capabilities and more.
The new LPC website will simplify the journey for visitors, whether they’re looking to purchase a laser system, explore partnership opportunities, or join the LPC team. It offers an intuitive understanding of LPC’s company culture, core values, and the company’s dedication to innovation and technological progress.
Tupuola added: “Our team at Laser Photonics has worked hard to modernize our online platform. The new features on the site mirror our commitment to continued growth while showcasing our dedication to delivering high-quality information and staying at the forefront of industry excellence.”
About Laser Photonics Corporation
Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. Laser Photonics’ new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental and regulatory issues associated with old methods. As a result, Laser Photonics has quickly gained a reputation as an industry leader for industrial laser systems with a brand that stands for quality, technology, and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using Laser Photonics’ “unique-to-industry” systems. For more information, visit https://www.laserphotonics.com.
Investor Relations Contact:
[email protected]
Contact:
Karla Kizzort
Marketing Specialist
Laser Photonics Corporation
[email protected]
ORLANDO, Fla., May 7, 2024 – Fonon Technologies, a government and military contractor providing sales and marketing services to the U.S. Government and the Department of Defense (DOD), joins Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, in announcing that the two companies are co-hosting an exhibit booth at MegaRust 2024, an annual trade show focused on corrosion control solutions for the Navy, Marine Corps and other segments of naval services.
“Laser Photonics offers professionals its CleanTech laser blasting system as the leading-edge solution in combating corrosion, a substantial challenge to naval systems,” said Wayne Tupuola, CEO of Laser Photonics. “This time, we’re joined by Fonon Technologies at MegaRust to educate fleet professionals on how they can benefit from using our advanced technology.”
Hosted by the American Society of Naval Engineers, MegaRust provides attendees with the latest information on programs, policies, standards and fleet experience related to corrosion while promoting discussion and information sharing about technologies and strategies for controlling corrosion.
What: MegaRust 2024
When: May 21-23, 2024
Where: Marriott Mission Valley (8757 Rio San Diego Dr., San Diego, CA 92108)
Booth: 12
The conference provides an impartial forum for dialogue between government organizations, commercial organizations and providers of corrosion control products, processes, technologies and solutions. Participants include representatives from military, industry, and government organizations involved with research, design, engineering, construction, maintenance, modernization and the operation of naval systems affected by corrosion.
At MegaRust, Laser Photonics and its affiliated company, Fonon Technologies, will present a selection of laser systems, including the newest version of Laser Photonics’ CleanTech Handheld LPC-1500-AC, which has been updated to a much smaller and more portable form factor. The co-hosts will also highlight the DefenseTech 100M-MRLS laser cleaning system, an innovative technology targeting the needs of defense industry professionals. Lastly, LPC and Fonon Technologies will showcase the DefenseTech Blaster Cabinet DT-50-BC, DefenseTech Handheld DT-200-MRLS, and the DefenseTech Handheld DT-2000 MRLS defense-focused laser systems, which are manufactured by Laser Photonics and sold to the defense industry by Fonon Technologies.
Government fleet professionals will have the chance to learn how LPC’s technology can help with rust control, corrosion and coating removal, optimizing MRO processes and streamlining inventory maintenance. LPC will also talk about its full portfolio of industrial-grade laser systems for material processing, including WeldTech systems for laser welding and others.
DefenseTech Laser Cleaning Technology
The DefenseTech product line is an eco-friendly, cost-effective and time-efficient system for industrial cleaning, rust removal, coating removal and surface preparation. Laser cleaning equips professionals in the defense industry with the technology they need to maintain equipment integrity and enhance traceability. DefenseTech laser cleaning systems effectively accomplish this without damaging underlying surfaces, ensuring prolonged equipment life and operational readiness. For more information, visit https://www.defensetechlaser.com.
CleanTech Laser Blasting Technology
CleanTech Laser Blasting products by Laser Photonics provide industry professionals with eco-friendly, cost-effective and time-efficient systems that are utilized for industrial cleaning. Applications include rust removal, paint removal, surface preparation and more. Laser cleaning removes paint, contaminants, rust and residues with a high-energy laser beam which leaves the substrate untouched. This technology is an excellent alternative to traditional cleaning methods like sandblasting, dry ice blasting and other abrasive blasting techniques.
About Laser Photonics Corporation
Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. Laser Photonics’ new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental and regulatory issues associated with old methods. As a result, Laser Photonics has quickly gained a reputation as an industry leader in industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using Laser Photonics’ “unique-to-industry” systems. For more information, visit www.laserphotonics.com.
About Fonon Technologies
Fonon Technlogies is a diversified industrial laser equipment company with a continuously growing umbrella of building-block technologies supported by patents, licenses, next-generation hardware and proprietary metal processing IP. The company is dedicated to advancing industrial technology and designing specialized 3D metal printing systems for manufacturing purposes, representing the fastest path to Manufacturing Readiness Level 10.
About American Society of Naval Engineers (ASNE)
ASNE is the leading professional engineering society for engineers, scientists and allied professionals who conceive, design, develop, test, construct, outfit, operate and maintain complex naval and maritime ships, submarines and aircraft and their associated systems and subsystems. Society activities provide support for the U.S. Navy; U.S. Coast Guard; U.S. Marine Corps; U.S. Merchant Marine and U.S. Army. It is the seventh oldest technical society in the United States, founded in 1888 by a group of naval engineering pioneers, most of them officers of the U.S. Navy’s Engineering Corps, who sought a unified approach to their profession in order to make the most of new advances in technology.
Investor Relations Contact:
[email protected]
Media Contact:
Karla Kizzort
Marketing Specialist
Laser Photonics Corporation
[email protected]
ORLANDO, Fla., May 2, 2024 – Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global industrial developer of laser systems for cleaning and other material processing applications, announced the opening date of its new state-of-the-art Customer Experience Center (CEC) for May 6. The facility will be used to demonstrate LPC technology to customers looking to learn how laser systems can benefit their business.
The 9,000-square-foot facility offers visitors interactive, hands-on experiences with cutting-edge laser systems. These fully immersive technology demonstrations allow our existing and prospective clients to better understand the capabilities of LPC’s solutions and envision how our products can fit their unique circumstances. Visitors can explore a range of LPC product benefits by taking a journey that integrates both virtual and live processes, ushered through stages that normally take weeks in more traditional experience pipelines.
“Opening our state-of-the-art Customer Experience Center is an important milestone for Laser Photonics,” said Wayne Tupuola, CEO of LPC. “Laser technologies have become go-to tools of choice in almost every industry around the globe. Our new Experience Center allows us to meet the influx of requests for trying out our laser solutions while giving us an opportunity to demonstrate our next-generation equipment.”
The CEC is suited to accommodate various types and sizes of visitor groups. Decision-makers can witness and use LPC products and services, speak with company representatives who can identify effective solutions to their unique needs and receive answers to their most pressing questions. The center will also offer remote opportunities, allowing customers in other parts of the country to engage in communication and virtually experience LPC laser technology.
The CEC provides versatile audio and video conferencing capabilities, including intimate huddle rooms for single-screen sessions and Inclusive audio systems that cater to diverse needs, such as those with visual impairments. The center boasts both wired and wireless options for research and presentations, enhanced by interactive touchscreens and digital whiteboards. Safety measures and user-friendly controls promote independent use, while huddle rooms offer a cozy setting for spontaneous meetings, fostering collaboration and efficient small-scale conferences.
The CEC not only supports customer training but also provides partners and employees access to live and recorded technical demonstrations of LPC’s technologies. Based on the level of expertise, each audience will be able to access technology and solution demonstrations in a highly personal way and in an engaging environment.
“Using the CEC to foster and build relationships gives us a clearer idea of who our customers are and what they value. This will improve our assessment of customer needs and help LPC improve our sales process and client communication,” Tupuola said. “We want all CEC visitors to have complete control over how they choose to explore our offerings. In addition to the hands-on experience, visitors will be able to use interactive displays to get some of their questions answered and view digital displays of our products. As our product lines evolve, we will continue to update the CEC to provide the most relevant information.”
The CEC’s lobby and common area is where staff, clients, partners and executives gather for introductions, office functions and other important events. In these spaces, samples of product applications are front and center, surrounded by engrossing and informative audio and visual representations that reflect LPC’s mission, history, culture and solutions. For more information about the CEC and Laser Photonics’ laser systems, please visit https://www.laserphotonics.com or contact their sales department at [email protected].
About Laser Photonics Corporation
Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. Laser Photonics’ new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental and regulatory issues associated with old methods. As a result, Laser Photonics has quickly gained a reputation as an industry leader for industrial laser systems with a brand that stands for quality, technology, and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using Laser Photonics’ “unique-to-industry” systems. For more information, visit https://www.laserphotonics.com.
Investor Relations Contact:
[email protected]
Contact:
Karla Kizzort
Marketing Specialist
Laser Photonics Corporation
[email protected]
ORLANDO, Fla., April 24, 2024 – Laser Photonics Corporation (LPC), a leading global developer of industrial laser systems for laser cleaning and other material processing applications, highlights a key application for its CleanTech laser systems in the manufacturing of precision optics and optical coatings.
“Optical coatings are key to nearly all optical tools like cameras, telescopes, eyeglasses, sensors, and mirrors,” said Wayne Tupuola, CEO of Laser Photonics. “Professionals in this field have greatly benefited from using our laser cleaning technology to save time and money while also solving unique challenges traditional methods are unable to meet.”
During the manufacturing process, lenses often undergo coating for various purposes, such as reducing reflectivity, improving scratch resistance and visual clarity, or blocking UV rays. The coating process involves the use of lens trays and equipment which must be cleaned regularly to prevent buildups, inconsistencies, premature wear and cross-contamination. Removing accumulated residue ensures the optimal performance of critical components, trays and feed lines.
With CleanTech laser cleaning systems, cleaning after every use is simple. In addition to shorter turnaround times, laser cleaning minimizes product waste, increases accuracy and ensures consistency. All are accomplished while eliminating the need for harmful consumables that traditional methods require. These capabilities make LPC’s CleanTech the preferred solution for optics manufacturers, as well as for other industry professionals.
For more information about the CleanTech line of laser cleaning systems, please visit https://www.laserphotonics.com or contact our sales department at [email protected].
CleanTech Laser Blasting Technology
The CleanTech Laser Blasting Technology manufactured by Laser Photonics is eco-friendly, cost-effective and time-efficient. Applications include rust removal, paint removal, surface preparation and more. This technology is an excellent alternative to traditional cleaning methods like sandblasting, dry ice blasting and other abrasive blasting techniques.
About Laser Photonics Corporation
Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. Laser Photonics’ new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental and regulatory issues associated with old methods. As a result, Laser Photonics has quickly gained a reputation as an industry leader in industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using Laser Photonics’ “unique-to-industry” systems. For more information, visit https://www.laserphotonics.com.
Investor Relations Contact:
[email protected]
Contact:
Karla Kizzort
Marketing Specialist
Laser Photonics Corporation
[email protected]
ORLANDO, Fla., April 23, 2024 – Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, announced today that it is attending this year’s Offshore Technology Conference (OTC).
Set to take place from May 6 to May 9 in Houston, Texas, the OTC brings together energy professionals together for the exchange of ideas and opinions that serve to advance scientific and technical knowledge about offshore resources and environmental matters.
“For Laser Photonics, the Offshore Technology Conference is a valuable opportunity to present our innovative solutions while learning about the latest advances, challenges, and opportunities in this arena,” said Wayne Tupuola, CEO of Laser Photonics. “Its large international audience provides an excellent opportunity for the global sharing of technology, and we are excited for the chance to develop business partnerships that help advance progress.”
At the Offshore Technology Conference, LPC will present a selection of its laser systems, including the CleanTech Blaster Cabinet LPC-50-CTBC and its marine laser cleaning system, the MARLIN Handheld LPC-100M-MHD, an innovative technology targeting the needs of shipbuilding and boat manufacturing professionals.
Those who attend Booth 4920 at the conference will be able to witness LPC’s laser cleaning systems in action. The opportunity will also present professionals with the chance to learn about how the company’s technology can help with corrosion and coating removal, as well as how it can help them optimize their MRO processes. LPC will also educate attendees on its full portfolio of industrial-grade laser systems for material processing, including WeldTech, MarkStar, and other products.
The OTC is a collaboration of 15 non-profit organizations and societies that support the global energy sector. The organization is dedicated to accelerating the development and transfer of interdisciplinary offshore technologies.
What: Offshore Technology Conference 2024
When: May 6-9, 2024
Where: Booth 4920 at NRG Center, NRG Park, 1 Fannin St, Houston, TX 77054
CleanTech Laser Blasting Technology
CleanTech Laser Blasting products by Laser Photonics provide industry professionals with eco-friendly, cost-effective and time-efficient systems that are utilized for industrial cleaning. Applications include rust removal, paint removal, surface preparation and more. This technology is an excellent alternative to traditional cleaning methods like sandblasting, dry ice blasting and other abrasive blasting techniques.
MARLIN Laser Cleaning Technology
The MARLIN Handheld LPC-100M-MHS and LPC-200M-MHS are air-cooled pulse laser systems, perfect for small craft marine vessel applications. The equipment’s portable design lends itself to laser cleaning and surface treatment on small areas requiring delicate cleaning, de-painting and other surface preparation operations. The MARLIN product line helps industry professionals tackle their corrosion challenges while saving them time and money.
About Laser Photonics Corporation
Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. Laser Photonics’ new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental and regulatory issues associated with old methods. As a result, Laser Photonics has quickly gained a reputation as an industry leader in industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using Laser Photonics’ “unique-to-industry” systems. For more information, visit www.laserphotonics.com.
Investor Relations Contact:
[email protected]
Contact:
Karla Kizzort
Marketing Specialist
Laser Photonics Corporation
[email protected]
ORLANDO, Fla., April 18, 2024 – Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, announced today that it is attending the 2024 Government Fleet Expo & Conference (GFX), the largest annual conference for public fleets in the nation.
Set to take place from May 7 to May 10 in Louisville, Kentucky, the GFX brings together fleet managers, procurement specialists, analysts, and maintenance supervisors, as well as the manufacturers, vendors and suppliers that serve them. The event provides a forum where professionals involved in government fleet operations can discover and try the latest technologies and equipment to maintain or upgrade current systems and services.
Built from the ground up by the team behind Government Fleet magazine, the most trusted industry resource for news, training and information, GFX is known for its robust conference program, large and immersive exhibition and, most of all, for serving as an annual hub for public fleet professionals.
“For Laser Photonics, GFX provides a valuable opportunity to showcase our advanced solutions to public fleet experts,” said Wayne Tupuola, CEO of Laser Photonics. “We look forward to demonstrating how cutting-edge laser technologies can improve MRO, inventory management, and other applications – while minimizing health, safety, environmental and regulatory issues.”
At GFX, Laser Photonics will present a selection of its laser systems, including the CleanTech Laser Blaster Cabinet, the CleanTech 2000-CTHD and the CleanTech 200-CTHD. Lastly, LPC will also be showing its MARLIN 100M designed specifically for maritime cleaning applications, and the newest version of the CleanTech Handheld LPC-1500-CTHD, which has been updated to a smaller and more portable form factor.
Government fleet professionals will have the chance to learn how LPC’s technology can help with rust control, corrosion and coating removal, optimizing MRO processes and streamlining inventory maintenance. LPC will talk about its full portfolio of industrial-grade laser systems for material processing, including WeldTech systems for laser welding and others.
What: 2024 Government Fleet Expo & Conference (GFX)
When: May 7 – May 10, 2024
Where: Kentucky International Convention Center (221 S 4th Street, Louisville, KY 40202)
CleanTech Laser Blasting Technology
CleanTech Laser Blasting products by Laser Photonics provide industry professionals with eco-friendly, cost-effective and time-efficient systems that are utilized for industrial cleaning. Applications include rust removal, paint removal, surface preparation and more. This technology is an excellent alternative to traditional cleaning methods like sandblasting, dry ice blasting and other abrasive blasting techniques.
MARLIN Laser Cleaning Technology
The MARLIN Handheld LPC-100M-MHS and LPC-200M-MHS are air-cooled pulse laser systems, perfect for small craft marine vessel applications. The equipment’s portable design lends itself to laser cleaning and surface treatment on small areas requiring delicate cleaning, de-painting and other surface preparation operations. The MARLIN product line helps industry professionals tackle their corrosion challenges while saving them time and money.
About Laser Photonics Corporation
Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. Laser Photonics’ new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental and regulatory issues associated with old methods. As a result, Laser Photonics has quickly gained a reputation as an industry leader in industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using Laser Photonics’ “unique-to-industry” systems. For more information, visit www.laserphotonics.com
Investor Relations Contact:
[email protected]
Contact:
Karla Kizzort
Laser Photonics Corporation
[email protected]
ORLANDO, Fla., April 16, 2024 – Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global developer of industrial laser systems for cleaning and other material processing applications, announced today that it is attending this year’s NCMS Commercial Technologies for Maintenance Activities (CTMA) Partners Meeting.
Set to take place from May 7 to May 9 in Providence, Rhode Island, the CTMA Partner’s Meeting is designed to promote an exchange of ideas among maintenance and sustainment leaders in government, industry and academia. This event is the only DOD-wide forum dedicated to advancing maintenance and sustainment (M&S) capabilities, where the primary focus is on innovations and ideas that drive the evolution of M&S strategies to promote warfighter readiness. The event is hosted by the technology development consortium National Center for Manufacturing Sciences (NCMS).
“For Laser Photonics, the NCMS CTMA Partners Meeting is a valuable opportunity to present our next-generation solutions to maintenance and sustainment leaders. We thank NCMS and CTMA for providing a forum where LPC and other innovators can present their technologies to a broad cross-section of decision makers in government, industry and academia,” said Wayne Tupuola, CEO of Laser Photonics.
What: 2024 NCMS CTMA Partners Meeting
When: May 7- May 9, 2024
Where: Graduate Providence Hotel in Providence, Rhode Island
At the NCMS CTMA Partner Meeting, LPC will present a selection of its laser systems, including the newest version of its CleanTech 1500-CTHD. The CleanTech 1500-CTHD has been updated to a much smaller and more portable form factor. LPC will also highlight its marine laser cleaning system the MARLIN DT-100M, an innovative technology targeting the needs of shipbuilding and boat manufacturing professionals. Lastly, LPC will also be bringing its DefenseTech DT-200-MRLS and DT-2000-MRLS defense-focused laser systems to the event.
Those who attend the Partners Meeting will be able to witness LPC’s laser cleaning systems
in action. The opportunity will also present professionals with the chance to learn about how the
company’s technology can help with corrosion and coating removal, as well as optimize their MRO processes. LPC will educate attendees on its full portfolio of industrial-grade laser systems for material processing, including the WeldTech, MarkStar, and other products.
CleanTech Laser Blasting Technology
CleanTech Laser Blasting products by Laser Photonics provide industry professionals with eco-friendly, cost-effective and time-efficient systems that are utilized for industrial cleaning. Applications include rust removal, paint removal, surface preparation and more. This technology is an excellent alternative to traditional cleaning methods like sandblasting, dry ice blasting and other abrasive blasting techniques.
DefenseTech Laser Cleaning Technology
The DefenseTech product line by Laser Photonics provides professionals in the defense industry with an MRO tool for corrosion control and prevention. Laser cleaning equips professionals with the technology they need to maintain equipment integrity and enhance operations. Our laser cleaning systems effectively accomplish this without damaging underlying surfaces, ensuring prolonged equipment life and operational readiness. For more information, visit https://www.defensetechlaser.com.
MARLIN Laser Cleaning Technology
The MARLIN Handheld LPC-100M-MHS and LPC-200M-MHS are air-cooled pulse laser systems, perfect for small craft marine vessel applications. The equipment’s portable design lends itself to laser cleaning and surface treatment on small areas requiring delicate cleaning, de-painting and other surface preparation operations. The MARLIN product line helps industry professionals tackle their corrosion challenges while saving them time and money.
About Laser Photonics Corporation
Laser Photonics is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. Laser Photonics seeks to disrupt the $46 billion, centuries-old sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. Laser Photonics’ new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental and regulatory issues associated with old methods. As a result, Laser Photonics has quickly gained a reputation as an industry leader in industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using Laser Photonics’ “unique-to-industry” systems. For more information, visit https://www.laserphotonics.com.
About NCMS
NCMS is one of the largest cross-industry collaborative R&D consortiums in North America, driving innovation in commercial, defense and robotics manufacturing. CTMA is a Cooperative Agreement in partnership with the Office of the Deputy Assistant Secretary of Defense, Materiel Readiness (ODASD MR) and NCMS. Its objective is to ensure American warfighters and their equipment are ready to face any situation, with the most up-to-date and best-maintained platforms, data, and tools available.
About CTMA
With a relentless focus on defense maintenance, sustainment, and logistics, CTMA offers an agile and streamlined contracting vehicle in partnership with industry and academia to advance the development, integration, and use of commercial sustainment technologies and processes which can improve warfighter readiness. CTMA initiatives focus on reliability, improved weapon systems capability with lowered overall sustainment costs, reduced cycle time for sustainment, improved sustainer safety, efficiency, and productivity, while improving business practices and data collection/management.
Investor Relations Contact:
[email protected]
Contact:
Karla Kizzort
Marketing Specialist
Laser Photonics Corporation
[email protected]
Fourth quarter revenue grew by 673%
Fourth quarter operating and net losses improved by 36% and 86%, respectively
Orlando, Fla., April 15, 2024 – Laser Photonics Corporation (LPC) (NASDAQ: LASE), a leading global industrial developer of CleanTech Laser Systems for laser cleaning and other applications, today announced financial results for its fourth quarter and year ended December 31, 2023, and provided the following letter to its shareholders from CEO Wayne Tupuola.
Dear Shareholders,
2023 was a year of transition for Laser Photonics. During the year, we made significant investments that have positioned us well to capture the vast market opportunity ahead for CleanTech while introducing additional, vertical-centric product lines that we believe will drive revenue growth in the future. In addition to product development, we invested heavily in this future growth opportunity by expanding our sales and marketing resources and distribution partnerships. This investment began to pay off during the fourth quarter, with 673% revenue growth and reduced operating and net losses.
| Select Financial Metrics: Fiscal 2023 versus Fiscal 2022 (as restated)* | ||||||
| (in $M except for EPS) | 4Q23 | 4Q22 | Change | 2023 | 2022 | Change |
| Revenue | $0.8 | $0.1 | 673.3% | $3.9 | $3.9 | 1.0% |
| Operating Loss | ($1.9) | ($3.0) | 36.3% | ($3.8) | ($2.1) | -81.6% |
| Net Loss | ($0.4) | ($3.0) | 85.8% | ($3.8) | ($2.1) | -79.9% |
| Diluted Loss per Share (EPS) | ($0.05) | ($0.38) | 87.9% | ($0.42) | ($0.35) | -20.0% |
*numbers may not add due to rounding
Customer and Product Line Expansion
In 2023, we continued to grow our customer base and expand our reach into high-potential industry verticals. We aimed to attract new customers by providing world-class products and introducing new technology targeted at markets with a strong need for industrial laser solutions. One example of this product line expansion was in January 2023, when we introduced our 3000-watt CleanTech system. This product further differentiated our offering by expanding our laser cleaning capabilities at the higher end of the laser power market.
We also developed our CleanTech Robotic Cell Enclosure, a product that significantly reduces or eliminates safety concerns for human operators. This programable enclosure will have the ability to leverage AI to effectively serve as an additional dedicated employee capable of fulfilling multiple tasks simultaneously, including serving as a cleaning operator, quality control inspector, engineering programmer and process engineer. We believe this new product offering will raise the bar for laser cleaning applications and safety while reducing the total cost of ownership for the customer.
Next, we introduced the DefenseTech product line for military and defense applications, which we believe has massive potential for our technology. This product line leverages our CleanTech and Markstar technologies, which, in combination with our increased sales and marketing efforts to the DoD, led to new sales and deepened our penetration in this market. We have now supplied systems to army depots, naval installations, shipyards and air force bases, and we believe DefenseTech will help us continue to grow with these customers.
Finally, we released our MARLIN (Marine Application Rust Laser Inhibitor) line of portable laser systems, specifically designed for small craft marine vessel applications, including laser cleaning and surface treatment for small areas requiring delicate cleaning, de-painting and other surface preparation operations. This product line opened up a $500 million addressable market opportunity for Laser Photonics.
The launch of these new products has reinforced our position as a leading provider of laser solutions for manufacturing, repair and operations (MRO) and industrial cleaning in the defense and maritime industry.
Expanded Relationship with Fonon Corporation
Fonon Corporation (and its subsidiary Fonon Technologies) is an affiliated company through its control by ICT Investments. We license various technologies from Fonon and serve as the manufacturing, sales and marketing arm for these technologies for industrial verticals. Additionally, Fonon Technologies is set up as a government and military contractor and provides sales and marketing to the U.S. Government and the Department of Defense (DoD) for CleanTech, Markstar, DefenseTech, and other brands, with LPC serving as the manufacturer. Late last year, we expanded our relationship with Fonon to enter the laser cutting market with its high-power Turbo Piercing (“Cold Cutting”) Laser Cutting equipment and technology in exchange for cash and stock.
Separately, ICT Investments transferred three million of its shares in LPC to Fonon, making Fonon our largest holder. In the coming months, we expect to further strengthen this partnership through additional licenses for new technologies that will expand our market opportunity and other potential transactions, including becoming a subsidiary of Fonon. LPC will continue to focus on industrial applications for the technology, while Fonon will focus on sales and marketing to the government and DoD.
Strategic Partnerships and Distribution Agreements Bolster Inside Sales and Marketing Efforts
Through our partnership with Fonon Technologies, we established a sales and distribution agreement with Incredible Supply and Logistics (ISL), a leading national marketer and distributor to the U.S. Government and DoD. We believe this relationship will build on our strong DefenseTech product line and accelerate penetration into these customers in the future.
Throughout the year, we also attended numerous events and introduced thousands of tradeshow attendees to the benefits of our products. These events introduced us to new industry contacts and key decision-makers while facilitating purchases and business relationships. In 2023, we also began building and expanding our Customer Experience Center (CEC). This facility will serve as an environment to showcase our innovative technologies and demonstrate capabilities to customers during the sales process. The CEC also serves as a testing center for both LPC and our customers.
2024 Outlook
Going forward, we will continue working to meet customer demand across various industries, including the general manufacturing, automotive, maritime and energy markets, and we expect to launch several new product lines throughout 2024 to address these opportunities.
In early 2024, we signed a distribution agreement for our laser cleaning and personal protective equipment with the Fastenal Company, one of the country’s largest industrial distributors. We also announced a technology integration partnership with Brokk, the world’s leading manufacturer of advanced remote-controlled demolition machines, popularly called “demolition robots,” to integrate LPC’s laser cleaning and cutting technology into its robots. Combined with ISL, these strategic partners have equipped us with a more extensive distribution network, which we believe will contribute to faster growth and increased sales. We plan to continue building on these existing relationships while also working to forge new strategic partnerships.
Looking at our product roadmap, in 2024, we will introduce the newest generation of our CleanTech systems. A key feature of this new line is that customers can customize the system’s power and frequency to meet the cleaning needs of a broader range of materials. Certain versions will also bring a smaller form factor, lighter scan heads, lower power requirements and an improved air knife design. Higher-power versions will be IOT-ready and come with WiFi & Ethernet support. Additionally, we plan to release an air-cooled 1500-watt laser, the smallest and most portable form factor currently available. We believe this updated line of products will give users greater flexibility for in-field applications while opening up additional sales opportunities for LPC.
Next, we plan to continue developing our SaberTech laser-cutting product line, utilizing the recently acquired cold-cutting and Turbo Piercing technology licenses. The significance of cold cutting and Turbo Piercing technology is that it will increase the cutting capabilities of the product by reducing the risk of warping during the cutting process due to the laser’s heat. This is very important for many industries, such as the aviation sector, which, to date, have not been able to adopt laser-cutting technology due to working with thinner materials. As part of our investment in the SaberTech product line, the Titan FX, our large format laser cutting system will be entirely revamped with automatic sheet metal loading and unloading systems. The system will load metal sheets into the Titan, cut them, and then unload the cut pieces onto a rack system. With this automation, customers can run the Titan 24/7 to have plenty of material ready for their production shifts.
Finally, we will introduce the MarkStar VIN, a marking and engraving solution tailored for automotive applications. This introduction is a direct response to the recently passed California Senate Bill 55, which requires all motor vehicle catalytic converters to be marked with the VIN. This system will have specific capabilities and features targeted at complying with this new legislation, ensuring that automotive manufacturers and repair shops can easily adhere to the law. By incorporating this legal requirement into our product’s capabilities, we aim to explore and capitalize on the untapped potential within the automotive market that we believe can help re-invigorate our traditional laser sales. These additions expand our existing line of unique-to-industry systems, enhancing our product offering and capitalizing on essential markets.
In summary, we are driving innovation and diversifying our product offerings with groundbreaking solutions. Our plans to release the SaberTech, MarkStar VIN and next-generation CleanTech systems this year highlight our unwavering dedication to addressing the ever-changing demands of global industries. Our investment in research and development echoes this strong commitment to strengthen our competitive advantages and adapt to the rising need for this technology across many sectors, fueled by stringent regulations and restrictions.
As we look to the year ahead, we are committed to propelling sales growth and creating significant value for our shareholders. We will continue leveraging the momentum from our strategic investments and have a heightened focus on penetrating key markets, which we expect will drive sustainable growth across all product lines. As a result, we are confident in our ability to deliver improved financial results in 2024. Thank you to our stockholders, partners and team for supporting our journey.
We look forward to providing positive future updates on our business.
Sincerely,
Wayne Tupuola
Chief Executive Officer
Conference Call and Webcast Information
Management will host a conference call and webcast to review the Company’s results. Investors can submit questions ahead of time to [email protected].
Conference Call Date/Time: Monday, April 15, 11:00 a.m. Eastern Time
Toll Free: 1-877-407-3982
Toll/International: 1-201-493-6780
Call me™ Call me™
• Participants can use Guest dial-in #s above and be answered by an operator OR click the Call me™ link for instant telephone access to the event. Call me™ link will become active 15 minutes before the scheduled start time.
Webcast Location: https://viavid.webcasts.com/starthere.jsp?ei=1662459&tp_key=3bf9ff1b33
Replay
Toll Free: 1-844-512-2921
Toll/International: 1-412-317-6671
Replay Pin Number: 13746070
Replay Start: Monday, April 15, 2024, 12:00 p.m. ET
Replay Expiry: Monday, April 29, at 11:59 p.m. ET
About Laser Photonics Corporation
Laser Photonics Corporation is a vertically integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. At LPC, we are disrupting the centuries-old $46 billion sand and abrasives blasting markets, focused on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. Our new-generation laser blasting technologies and equipment address the health, safety, environmental and regulatory concerns associated with outdated methods, proving Laser Photonics Corp. an industry leader for industrial laser systems. Renowned manufacturers in aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding sectors rely on our “unique-to-industry” systems. For more information, visit www.laserphotonics.com.
Cautionary Note Concerning Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations as of the date of this press release and involve risks and uncertainties that may cause results and uses of proceeds to differ materially from those indicated by these forward-looking statements. We encourage readers to review the “Risk Factors” in our Registration Statement for a comprehensive understanding. Laser Photonics Corp. undertakes no obligation to revise or update any forward-looking statements, except as required by applicable laws or regulations, to reflect events or circumstances after the date of this press release.
Investor Relations Contact:
Email: [email protected]
Media Contact:
Karla Kizzort
Phone: 407-804-1000×1132
Email: [email protected]
