nLIGHT Inc., the Vancouver-based maker of high-power semiconductor and fiber lasers, saw sales go up 23.2 percent in the fourth quarter compared to the previous year’s same quarter, the company announced.
Fourth-quarter profit was $2.4 million, or 6 cents per diluted share, the company said, in announcing results on Thursday. Sales for the quarter, which ended Dec. 31, were $46.1 million, compared to about $37.5 million the same quarter 2017.
“2018 was a year of significant accomplishments for nLIGHT,” Scott Keeney, nLIGHT’s president and CEO, said in a statement. “We successfully completed an initial public offering in April, introduced a number of innovative products to the market, and delivered revenue growth of 38 percent with significant profitability expansion.
“Our financial performance in the fourth quarter and throughout 2018 demonstrates the diverse reach of our products from both an end market and geographic perspective. While conditions in the Chinese industrial market remain challenging, we see expanding opportunities with fiber laser customers in other Asian markets, North America, and Europe. With the rollout of higher power and differentiated fiber lasers, and our progress driving power and efficiency leadership in semiconductor lasers, we are well positioned to continue to grow at a faster rate than the overall high-power laser market.”
