WARWICK, R.I. — Laser technology company Infinite Group, Inc., reported a net loss of $2.09 million, or 72 cents per share, for the year 2000, compared with a net loss of $4.51 million, or $1.98 per share, for 1999.
Although Infinite saw increased revenues for the year — $13.17 million in 2000, compared to $9.24 million in 1999 — the company said it experienced operating losses at its wholly-owned subsidiary, Laser Fare, due to delays in the receipt of materials for aerospace and jet engine parts during the first half of the year. The company also said its Osley & Whitney injection molding unit experienced operating losses due to slowing demand for plastic parts and Asian competition.
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Infinite Group announced the formation of a new subsidiary, Infinite Photonics, Inc., earlier this year. The company said it plans to focus on advancing its photonics business in 2001 in efforts to enhance shareholder value.
