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Qioptiq announces results for 2011

Company is well positioned for growth in 2012 

January 23, 2012

LUXEMBOURG, January 23, 2011 — Qioptiq, global designer and manufacturer of photonic products and solutions, today released its report about 2011 and addressed prospects for the year ahead.  

2011 was a reasonable year for Qioptiq.   Sales increased compared to 2010 and profitability remained stable.   The company experienced growth in civil markets and a reduction in its night vision business.   

David Marks, Chief Executive Officer of Qioptiq, noted, “For Qioptiq 2011 was a satisfying year. As a company we were faced with challenges which we were able to address. Qioptiq supplies both civil and defense markets in approximately equal portions. While defense budgets in our historical markets have remained constant or declined, our leading edge products and capabilities have meant that we have been able to withstand these pressures. Our markets for military equipment, infrared and avionic products performed in line with expectations as we continue to be involved in strategically significant programs. We did, however, experience a decrease in sales of night vision products. In addition, we are beginning to experience sales and opportunities in non-traditional markets in the Middle East and Asia and we are becoming increasingly involved in the security market where we see good opportunities for growth.”  

Mr Marks added that “in the commercial area, we have experienced good growth in the industrial optics market although we are beginning to see somewhat decreased demand in the semiconductor area. In the life sciences and medical equipment markets we have made significant investments in 2011 and are engaged in developing a number of projects with long-term potential. Generally speaking, our technical expertise and design capabilities continue to be highly valued by businesses requiring photonic solutions.”  

During 2011, Qioptiq continued to develop the capabilities of its Singapore facility which produces increasingly sophisticated photonic products and assemblies for a wide variety of uses.  

For 2012 Qioptiq expects some growth in sales and profitability although markets remain uncertain.  As David Marks explained, “A major reason for our guarded optimism is the number of projects under development which require our high-level design and manufacturing capabilities. We intend to continue our focus on our traditional markets in Europe and North America whilst making further inroads into the Middle East and Asia.”


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