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GSI Lumonics Reports Rise in Profits, Increased Backlog

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KANATA, Ontario, Canada, Nov. 5 -- GSI Lumonics Inc. reported net earnings of $2 million on sales of $78 million for the third quarter of fiscal 1999. Gross profit for the quarter was $30.5 million, which the company attributed to more favorable product mix and sales improvements in certain markets. Research and development expenses of $8.1 million, or 10 percent of sales, were recorded; general, administrative and selling expenses were $19 million, or 24 percent of sales. As of October 1, 1999, backlogged orders totaled $81 million, increasing 11 percent from the...Read full article

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    Published: November 1999
    News & Features

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