Laser Photonics reports Q4 EPS (5c) vs. (38c) last year

Reports revenue $0.8M vs. $0.1M last year. CEO Wayne Tupuola said, “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…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 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.”