Shares of cleantech laser systems maker Laser Photonics (NASDAQ:LASE) are under pressure today after the company postponed its fourth-quarter numbers which were scheduled for today.
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The company is reviewing certain expenses it incurred during its IPO and expects to report fourth-quarter numbers once its audit is completed. In the meantime, LASE has posted preliminary results for the year.
Fiscal 2022 revenue came in at $4.9 million rising about $700,000 over 2021. The company’s gross profit too rose from $2.6 million in 2021 to $3.5 million in 2022.
Further, LASE also announced changes at its top rung. Peter Evans has come in as its President and will focus on LASE’s sales, business development, finance as well as growth initiatives. Timothy Schick is vacating his role as the company’s CFO.
Shares of the company have surged nearly 200% so far in 2023 and LASE’s return on equity remains healthy at 15.38% at present.
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