Financial results from TIR Systems, Super Vision and Daktronics
TIR continues to push its Lexel technology, Daktronics is busy expanding to meet demand from billboard customers, and Super Vision has success with LEd fixtures.
TIR Systems has reported revenues of CAN$3.46 million for its third quarter ended June 30. The net loss was C$4.3 million, compared with a loss of C$2.9 million in the year-ago quarter.
TIR is currently shipping Lexel units in low volume to its lighting fixture manufacturing partners (numbering 7 in total) to support their development and launch plans for Lexel-based products. TIR says it remains on schedule to ship commercial Lexel units by the end of September 2006.
The company believes that its Lexel products are capable of addressing a combined lamp and lighting fixtures market of $3.5-4.3 billion, on a near-term, worldwide basis. TIR now has 6 issued SSL patents and has more than doubled its patent filings since the beginning of 2006, to 113. The patent lawsuit between TIR and Color Kinetics remains in the discovery stage and TIR says it will continue to vigorously defend itself.
LED display manufacturer Daktronics reported revenues of $92.2 million for the quarter ended July 29, up 27.5% from the year-ago period. However, the company's share price was hammered based on its profit of $5 million, or 12 cents a share. Analysts had been expecting 16 cents a share.
The company has completed an expansion of its plant in Brookings, South Dakota, and has also made progress with its new facility in Sioux Falls. "We continue to work on meeting the demands of our outdoor advertising customers as they ramp up the deployment of digital billboards," said Jim Morgan, president and chief executive officer. "We expect that the Sioux Falls facility, which will focus on serving our outdoor advertising customers, will be functioning by the end of second quarter. We expect to have approximately double the capacity for this niche by the end of the calendar year."
Super Vision's revenue was $3.1 million for the quarter June 30, down 2% year-on-year. Strong sales growth in the commercial lighting division, including a 38% increase in sales of the new SaVi™ brand LED lighting products, was offset by lower sales from the pool & spa and international divisions.
Overall, sales of LED products accounted for 52% of the company’s revenue for the quarter. Net loss was $125,000, or 5 cents per share, compared with a net income of $152,000 in the year-ago period.