Infinite Group Inc. posted second quarter revenue of $3,007,700, or a 49 percent increase over the same period a year earlier.
Infinite said the sales increase was largely attributed to contract revenues earned through its Infinite Photonics subsidiary, which develops and markets laser diodes based on its proprietary, patented and patent-pending IPI GCSEL technology platform. IPI GCSEL product applications include high-power pump lasers used for in optical transmitters and receivers for telecommunications, material processing and medical applications.
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Infinite’s net loss for the second quarter was $1,042,424, or $0.18 per share, an increase of 61% from the loss of $646,406 in the second quarter 2001.
Clifford G. Brockmyre, Infinite’s president and chief executive officer, said the company is pleased with its efforts to restructure the company, which have included divesting businesses to focus on its core technologies. The company will continue to reduce overhead and improve operating efficiencies, he said.
