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Dynasil Reports Record Third Quarter Results

^{Published on 2010-08-16 06:20:19 - Market Wire}
 

WEST BERLIN, N.J.--([ BUSINESS WIRE ])--Dynasil Corporation of America (OTCBB: DYSL) today announced record financial results for its 2010 third quarter, which ended June 30, 2010. The Company posted record revenue for the 2010 third quarter of $11.3 million which compares to $8.5 million in the third-quarter of 2009, a 33% increase year over year. Operating income, net income and diluted earnings per share for the quarter were $1.33 million, $727,646, and $0.05, increases of 92%, 85%, and 120%, respectively, compared with the prior year.

"Dynasil has completed another outstanding quarter with record revenue, earnings and financial results. We are pleased with our strong Q3 results which clearly reflect the strength of our diversified product portfolio, bolstered by innovation, commercialization initiatives and operational excellence."

aDynasil has completed another outstanding quarter with record revenue, earnings and financial results. We are pleased with our strong Q3 results which clearly reflect the strength of our diversified product portfolio, bolstered by innovation, commercialization initiatives and operational excellence.a said Craig T. Dunham, CEO at Dynasil. aWe are also very excited about our portfolio of products and technologies for the coming year and we continue to see exceptional opportunity for continued strong growth and profitability across all our businesses. In addition, the refinancing of all our debt with Sovereign/Santander Bank provides Dynasil maximum financial flexibility to achieve our expansion goals through both organic and acquisition growth which should further accelerate our progress.a

aThe future looks really bright for Dynasil. Our activities in homeland defense, medical imaging, and material science enable us to serve and partner with our government and major corporations,a added Peter Sulick, Chairman, Dynasil Board of Directors. aOur growth strategy to acquire companies with strengths in complementary areas will enable us to more quickly commercialize our new technology while expanding the scale and scope of our product line and distribution channels. Exemplifying this is our recently announced acquisition of Hilger Crystals, a highly specialized expert in the manufacturer of synthetic crystals applicable to a wide range of our industrial, medical and homeland security applications with immediate importance to our nuclear detector business.a

About Dynasil: Dynasil Corporation of America (OTCBB: DYSL), is a provider of technology, products, services and solutions aimed at making the world safer and healthier.The company supplies a broad range of customers by serving their specific needs in the medical, industrial, and homeland security/defense markets. The Company has operations in New Jersey, New York, Massachusetts and the UK.

This news release may contain forward-looking statements usually containing the words "believe," "expect," aplana, atargeta, aintenda or similar expressions.These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act.Future results of operations, projections, and expectations, which may relate to this release, involve certain risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.Factors that would cause or contribute to such differences include, but are not limited to, the factors detailed in the Company's Annual Report or Form 10-K, Quarterly Reports on Form 10-Q, as well as in the Company's other Securities and Exchange Commission filings, continuation of existing market conditions and demand for our products.