A solid report for the third quarter of 2020 was published by laser supplier nLIGHT, Inc. (LASR). The company’s shipments of high-power fiber and semiconductor lasers have achieved record levels in all of its key markets.
Top 5 Cheap Stocks to Own Right Now
While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.
Sign up here to get your free report now. .
The increased demand for lasers for aerospace and other industries is being successfully leveraged by nLIGHT. In all regions of its presence, including strategic industrial customers outside of China, nLIGHT has managed to increase revenue.
nLIGHT’s revenue rose almost 41 percent year-on-year to $61.7 million in the last quarter. The GAAP loss was $2.1 million, or $0.05 per diluted share. Company’s year-ago quarterly loss was $0.8 million, or $0.02 per share.
As the macroeconomic instability of Covid-19 continues, nLIGHT remains pessimistic about the outlook. At the same time, the market for lasers remains high, as it is a powerful industrial technology that is still in the early stages of widespread adoption as a substitute for electric arc welding among many other industrial uses. Tiny industrial compact fiber lasers are also developed by nLIGHT.
Relatively inexpensive single-mode compact lasers with a power of 0.5-1.5 kW are also included in the nLIGHT series. For the benefit of small and medium-sized companies, these lasers may be used in small machines for welding and cutting metal.
nLIGHT also manufactures lasers for other uses as it particularly makes the laser devices satellite laser communication systems. Therefore, nLIGHT is aimed at a wider targeted market that enables it to sustain high growth rates in sales.
In the fourth quarter, nLIGHT expects $59-$65 million in sales, a 25-29 percent in gross margin, and an adjusted EBITDA in the range of $3-$7 million.
LASR shares have risen 43.20 percent to $29.04 since the beginning of the year which brings its market capitalization of more than $904 million while the beating results casued its share to rise by 31% over the past week.