Zecotek Announces Preliminary Revenue for Fiscal 2016

Share on Linkedin

Annual Revenue Increases 235% Year over Year

SINGAPORE, Oct. 04, 2016 (GLOBE NEWSWIRE) — Zecotek Photonics Inc. (TSX-V:ZMS) (Frankfurt:W1I) (OTCPK:ZMSPF), a developer of leading-edge photonics technologies for industrial, healthcare and scientific markets, today announced preliminary unaudited revenue for fiscal 2016 ended July 31, 2016.

Sales for the fourth quarter ended July 31, 2016 were $388,870, an increase of 87% from the same quarter in 2015 of $208,067.  Total unaudited revenue for fiscal 2016 increased 235% to a record $1,513,712 as compared to $451,747 for fiscal 2015.

“Our preliminary revenue for fiscal 2016 shows considerable growth versus the same period last year and proves that our patented LFS scintillation crystals are making an impact in the overall medical scanning marketplace,” said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek Photonics Inc.  “PET medical device OEMs generated the majority of revenue through the purchase of LFS scintillation crystals for newly designed PET scanners.  However, preliminary sales of crystals to organizations in homeland security, radiation detection, neuro-imaging, plus liquid and solids measurement also contributed to the year-over-year growth. For 2017 we expect robust LFS crystal sales with revenue growth in each of these market segments. Based on the successful completion of the previously announced MOU with a Chinese PET OEM, we expect the fulfillment of LFS crystals for the 5 year, 200 PET scanners sales plan to lead our revenue growth. Existing and future OEM customers will also contribute as they develop and rollout their medical scanning products in their respective markets. We look forward to a very busy fiscal 2017.”

About Zecotek
Zecotek Photonics Inc (TSX-V:ZMS) (Frankfurt:W1I) is a photonics technology company developing high-performance scintillation crystals, photo detectors, positron emission tomography scanning technologies, 3D auto-stereoscopic displays, 3D metal printing, and lasers for applications in medical, high-tech and industrial sectors.  Founded in 2004, Zecotek operates three divisions: Imaging Systems, Optronics Systems and 3D Display Systems with labs located in Canada, Korea, Russia, Singapore and U.S.A. The management team is focused on building shareholder value by commercializing over 50 patented and patent pending novel photonic technologies directly and through strategic alliances, the European Organization for Nuclear Research (Switzerland), Beijing Opto-Electronics Technology Co. Ltd. (China), NuCare Medical Systems (South Korea), the University of Washington (United States), and National NanoFab Center (South Korea).  For more information visit www.zecotek.com and follow @zecotek on Twitter.

This press release may contain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what may have been stated.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release. If you would like to receive news from Zecotek in the future please visit the corporate website at Here >>.

For Additional Information Please Contact:
Zecotek Photonics Inc.
Michael Minder
T: (604) 783-8291
ir@zecotek.com

Source: GlobeNewswire (October 4, 2016 – 3:32 AM EDT)

About SmallCapPower.com

SmallCapPower.com (SCP) is the industry’s most trusted resource for small cap stocks, offering unprecedented access to the research and tools you need to help uncover the next big thing.

Disclosure

Except for the historical information presented herein, matters discussed in this document contain forward- looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Ubika Research and www.smallcappower.com (are both divisions of Ubika Corporation), and are not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this report. For making specific investment decisions, readers should seek their own advice.

Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.

For full disclosure please visit Here >>

For additional information contact:

Mark Thorburn- Manager, Media Relations Email: mark@smallcappower.com

Phone: 416.646.1941