Business
nLIGHT, Inc. Announces Fourth Quarter and Full Year 2019 Results
Revenues of $176.6 million and gross margin of 29.6% for the full year 2019Revenues of $42.9 million and gross margin of 23.3% for the fourth quarter of 2019
About this update from Nlight, Inc.
[{"type":"text","content":"Revenues of $176.6 million and gross margin of 29.6% for the full year 2019Revenues of $42.9 million and gross margin of 23.3% for the fourth quarter of 2019\n VANCOUVER, Wash., Feb. 19, 2020 (GLOBE NEWSWIRE) -- nLIGHT, Inc. (Nasdaq: LASR), a leading provider of high-power semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets, today reported financial results for the fourth quarter and full year 2019. “We closed 2019 with new product and customer momentum that positions us well for 2020 and beyond,” commented Scott Keeney, nLIGHT’s President and Chief Executive Officer. “The overall industrial market showed signs of recovery in the fourth quarter and our differentiated offerings enabled us to increase customer penetration across the globe. Within China, our mix of high-power fiber-laser sales continued to grow, and we see areas of long-term opportunity in this market.” “We saw continued strength in aerospace and defense during the fourth quarter, concluding a record year for this end market. Our integration of Nutronics is progressing to plan and we are pleased with the initial response from customers and potential partners within the directed energy community. We are focused on ramping up Nutronics’ capabilities to deliver on several key contracts and on fostering collaboration between their team and the complementary efforts underway at nLIGHT.” “We are closely monitoring the evolving global impact from the COVID-19 outbreak. Our priority is the safety and wellbeing of our employees. The fluid nature of the situation has added significant short-term uncertainty to the Chinese market and our ability to fully meet current global market demand.” Full Year 2019 Financial Results Year Ended December 31, (In thousands, except percentages)2019 2018 % ChangeRevenues$176,619 $191,359 (7.7)%Gross margin29.6% 35.0% Income (loss) from operations$(9,909) $17,063 (158.1)%Operating margin(5.6)% 8.9% Net income (loss)$(12,884) $13,938 (192.4)%Adjusted EBITDA(1)$9,855 $30,156 (67.3)%Adjusted EBITDA(1), as percentage of revenues5.6% 15.8% (1) A reconciliation of the non-GAAP information provided here to the most directly comparable GAAP metric has been provided in the financial statement tables included in this release. Revenues were $176.6 million for the full year 2019, down 7.7% compared t...