Syntec achieves sequential revenue growth and returns to positive EBITDA and Earnings per Share.
ROCHESTER, NEW YORK, Aug. 14, 2024 (GLOBE NEWSWIRE) — Syntec Optics Holdings, Inc. (“Syntec Optics” or the “Company”) (Nasdaq: OPTX), a leading provider of mission-critical products to advanced technology defense, biomedical, and communications equipment manufacturers, today reported financial results for the first quarter of 2024.
Second Quarter 2024 Financial Highlights
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Net Sales of $7.01 million increased by 12% from $6.26 million in Q1 2024, and sales from products increased by 20% from $5.8 million in Q2 2023.
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Adjusted EBITDA increased to $1.32 million from negative $0.67 million in Q1 2024.
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Earnings per Share increased to $0.01 from negative $0.03 in Q1 2024.
Dean Rudy, CFO, said, “At the previous earnings call, we provided guidance for second quarter 2024 revenue to be between $6.4 and $7.0 million. I…
