GARDNER, Mass., Jan. 23 -- Precision Optics Corp. announced today it has reduced its full-time workforce by 15 percent, or five employees, in response to delays by an unnamed customer in the introduction of the customer's new cardiac surgical system, which employs a specialty endoscope developed by Precision Optics.
Sales to this customer in the quarter ending on Sept. 30 accounted for 49 percent of Precision Optics’ total revenues.
The company said it is considering other cost-saving measures, and that it will move forward with developing new products, in particular a new generation of its 3-D endoscopes, a prototype 2.7-mm endoscope and instruments uszing its micro-precision lens technology for endoscopes under 1 mm.
For more information, visit: www.poci.com