Laser Maker Narrows Loss in Q2

QPC Lasers Inc. narrowed its net loss for the second quarter when compared with the same period a year ago. The Sylmar-based developer and manufacturer of semiconductor lasers reported a net loss of $1.2 million, or a loss of $0.03 per diluted share, on revenues of $1.8 million for the second quarter ending June 30. That is a lower amount from the net loss of $4.4 million, or a loss of $0.14 per diluted share, on revenues of $577,000 for the same period in 2006. During the quarter the company made progress transitioning to a manufacturing and production mode to grow its product sales, said Chairman and CEO Jeffrey Ungar. “This quarter we were particularly encouraged by orders we continue to receive for our medical lasers,” Ungar said. “We were also pleased to see a pick-up in military and defense business during the quarter, including a $1 million in contracts from the Navy.”