nLIGHT announces second quarter 2019 results

Vancouver-based nLIGHT, provider of high-power semiconductor and fiber lasers used in the industrial, microfabrication and aerospace and defense markets, reported financial results for the second quarter of 2019.

“Sales in our microfabrication end market increased following a slower first quarter and aerospace and defense again delivered strong year-over-year growth. Our differentiated technology in each of our end markets positions us well for the favorable long-term trends we see in the adoption of high-power laser-based solutions,” President and CEO Scott Keeney said in a statement. Highlights include:

Revenues of $48.0 million for the second quarter of 2019 were down 7.1% compared to $51.7 million for the second quarter of 2018. Gross margin was 33.0% for the second quarter of 2019 compared to 34.2% for the second quarter of 2018. GAAP net loss for the second quarter of 2019 was $(0.2) million, or net loss of $0.00 per diluted share, compared to net income of $4.7 million, or net income of $0.11 per diluted share, for the second quarter of 2018. Excluding the impact of stock-based compensation and assuming the conversion of all outstanding convertible preferred stock in the period to common stock, non-GAAP net income for the second quarter of 2019 was $2.2 million, or non-GAAP net income of $0.05 per diluted share, compared to non-GAAP net income of $5.5 million, or non-GAAP net income of $0.14 per diluted share, for the second quarter of 2018.

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Joanna Yorke is the managing editor of the Vancouver Business Journal. She has worked in the journalism field since 2010 after graduating from the Edward R. Murrow College of Communication at Washington State University in Pullman. Yorke worked at The Reflector Newspaper in Battle Ground for six years and then worked at and helped start ClarkCountyToday.com.