LONDON Photonic Products Ltd, the optoelectronics device manufacturer and laser diode specialist that was recently acquired by StockerYale Inc., has appointed Tony Wright director of sales.
Wright has more than 25 years experience in the optics/photonics industry having initially worked as a hands-on sales engineer in the manufacture of holographic diffraction gratings, before moving into sales management and has subsequently holding senior sales positions with both Melles Griot and Linos Photonics.
StockerYale acquired the privately held Photonic Products (Bishops Stortford, England) for $9.4 million in cash, stock and bonds and is expected to increase StockerYale's 2006 pro forma revenues by approximately 50 per cent.
Photonic Products was founded in 1995 and has 45 employees with sales offices in Germany and California. Over the last five years, the company’s revenues have grown at a compound annual growth rate of 32 percent in response to demand for its laser diodes, laser modules and optical components.
For the fiscal year ending December 31, 2006, Photonic Products expects sales to be approximately $9.5 million and to achieve a record operating margin of 15 percent. The company's management, Tony Pope, founder and managing director, and Damon Cookman, director of operations, continue to manage the business.