PARIS – 3S Photonics reported a net income of $1 million for fiscal year 2006-2007, ended June 30, 2007. This compares to the net loss of $9.9 million for fiscal year 2005-2006.
For the first quarter of fiscal year 2007-2008, ending Sept. 30, 3S Photonics announced that its operating revenue amounted to $8 million, up 25 percent on a sequential basis.
Looking ahead, 3S Photonics said it anticipates revenues will be between $34 and $37 million for fiscal year 2007-2008, up 38 percent compared to previous fiscal year when considering post divestiture product portfolio.
"Given our good sales trends confirmed by our results in the first quarter and considering the global cost reduction plan launched in June 2007, we are quite optimistic in achieving our ambitious but realistic goals for fiscal year 2007-2008. We expect to be breakeven by the third quarter of 2008 already," commented Alexandre Krivine, 3S Photonics' president, chairman and CEO.
Located in Marcoussis, near Paris, the company was founded in 1994 as Alcatel Optronics SA. Acquired by Avanex Corp. in 2003, it became Avanex France SA. In April 2007, the company was bought by Alexander Krivine and Didier Sauvage and renamed 3S Photonics. Its core activity is to develop and manufacture active components powered by in-house III-V optoelectronics chips – GaAs (Gallium Arsenide) & InP (Indium Phosphide) - as well as passive optical components based onFiber Bragg Gratings, used essentially in high-speed telecommunication networks.
"It is a great satisfaction for all of us to reach positive income so quickly after the divestiture," Krivine explained. "This recovery is the first clear sign indicating the company is on the path towards profitability thanks to all the actions launched by the new management team with the full support and involvement of the entire company. A new dynamics is born”