The company announced sales of approximately US$380 million, as well as profits and cash generation that increased over the prior year. The company experienced growth in both the civil and defense markets.
“Although in general terms there has been a leveling off of demand in the defense sector, our expertise in the area of infrared optical products and other areas continues to be in demand due to the desire of national governments to improve the equipment of their ground forces,” says David Marks, CEO of Qioptiq. “In our civil business, we have seen good growth in demand in the industrial manufacturing sector. Orders from the semiconductor industry, in particular, have increased and we are starting to see growth in the area of medical and life sciences, where we have invested significantly over the past couple of years. Our business of delivering laser-produced light continues to do well.”
During 2010, the company rebranded, completing its integration of previously acquired companies.
For 2011 Qioptiq expects growth in sales and profitability. As David Marks explained, “One reason for this expectation is due to the successful integration of our acquisitions. We are now able to offer highly sophisticated optical engineering combined with lower-cost production capabilities in Asia and Eastern Europe.”
In recent years, Qioptiq has continued to invest significantly in plant and equipment and now has new or relatively new facilities in Singapore and Germany. Investments also continue to be made in human capital. The company’s optical design capabilities are among the most comprehensive in the photonics industry.
In 2011, Qioptiq intends to strengthen its presence in Asia while at the same time extending its product reach and technological capabilities in the medical and life sciences sector and industrial manufacturing. David Marks also noted: “Qioptiq continues to increase its involvement in the product development process with our major OEM customers in both civil and defense markets.”
-- Posted by Vision Systems Design