Semiconductor Laser International Corporation Announces 1999 Results
April 4, 2000
Binghamton, NY. Semiconductor Laser International Corporation (SLI) (OTC Bulletin Board: SLIC, SLICW) announced revenue and earnings for the twelve months ended December 31, 1999. For the year ended December 31, 1999, SLI reported revenue of $1,524,514, as compared to $2,197,736, for the same period in the prior year. This represents a decrease of approximately 31% in sales as compared to the prior year.
SLI also reported a net loss from operations for the twelve months ended December 31, 1999 of $3,404,471. This compares to a net loss of $4,180,539, for the twelve months ended December 31, 1998. The net loss applicable to common stock in the full year 1999 was $3,368,989 or $0.26 per share, as compared to a loss of $4,137,862 or $0.44 per share for the full year 1998 when there were approximately 3,757,812 fewer average shares outstanding.
Geoffrey T. Burnham, Chief Executive Officer of the Company stated, "There were several reasons for the decrease in sales for 1999, most notably the severe limitations on working capital which prevailed throughout 1999. However, we are encouraged by the consummation of a series of private placements since January 1, 2000 resulting in aggregate gross proceeds of approximately $5.7 million."
SLI is a company dedicated to quality manufacturing and production of high power semiconductor lasers. SLI s technology has potential uses for telecommunications, printing, laser marking, medical, optical display, illumination, precision machining and military.
Statements concerning results of future performance are forward-looking statements. These statements are based on assumptions that management believes are reasonable in light of currently available information; however, management s assumptions and SLI s future performance are both subject to a wide range of business risks, including, but not limited to, a history of significant losses, need for additional capital, risks associated with the manufacturing process, risks associated with the transition to the highly competitive telecommunications industry, certain patent and technology considerations, competition and technological changes, governmental regulations, dependence on key personnel, and other risks detailed in SLI s filings with the Securities and Exchange Commission. There is no assurance that these goals can and will be met. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Future events and actual results could differ materially from those expressed in, contemplated by, or underlying any such forward-looking statements. Further information is available in SLI s filings with the Securities and Exchange Commission, copies of which are available from SLI or from the Commission.
Contact:
Richard Anderson,
Mgr. Corporate Communications of Semiconductor Laser International Corporation,
Tel: 607-722-3800, or 877-GO4-SLIC
Fax: 607-722-3900
Richard Anderson,
Mgr. Corporate Communications of Semiconductor Laser International Corporation,
Tel: 607-722-3800, or 877-GO4-SLIC
Fax: 607-722-3900
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