Vancouver-based industrial laser manufacturer nLIGHT released its third-quarter results Thursday, posting revenues of $61.7 million — a 40.9 percent year-over-year increase — and a gross margin of 27.8 percent.
In a conference call with investors and analysts, CEO Scott Keeney attributed the strong results to high customer demand across multiple markets including high-power fiber laser sales in China, sales to industrial customers outside of China and sales to the aerospace and defense market.
The COVID-19 pandemic impacted nLIGHT’s operations in the first months of the year, and it remains an ongoing concern, chief financial officer Ran Bareket said on the call, but the company is still seeing positive trends in demand and expects overall 2020 revenue to exceed that of 2019.
