Laser Photonics Completes Order for US Navy

Rhea-AI Summary

Laser Photonics Corporation (NASDAQ:LASE) announced the delivery of the CleanTech Handheld LPC-1000CTH to the U.S. Navy Kingsbay Trident Re-fit Facility, following a previous announcement on October 11, 2022. Since then, Laser Photonics has sold eight systems totaling $750,000 to various branches of the U.S. military. The company anticipates future orders after the development of standard operating procedures. Laser Photonics aims to expand its presence in the U.S. Department of Defense, promoting the efficiency and financial benefits of its technology.

Positive

• Delivery of the LPC-1000CTH system indicate successful performance and reputation in military contracts.
• Total sales of eight systems amounting to $750,000 demonstrates growing demand in military applications.
• Expectations for follow-on purchases show potential for increased revenue from existing clients.

Negative

• Reliance on government contracts presents risks in economic fluctuations or budget cuts.
• Forward-looking statements carry uncertainties, including potential delays in future sales.

ORLANDO, FL / ACCESSWIRE / October 20, 2022 / Laser Photonics Corporation (NASDAQ:LASE), ("LPC"), a leading global industrial developer of Cleantech laser systems for laser cleaning and other materials applications, today announced the delivery of the CleanTech Handheld LPC-1000CTH to the U.S. Navy Kingsbay Trident Re-fit Facility, announced on October 11, 2022.

Wayne Tupuola, chief executive officer of Laser Photonics, commented: "We announced last week the latest sale of our CleanTech Laser Blasting Technology to the U.S. Navy, which has now been delivered. Including this sale, we have now sold eight systems for a total of $750,000 to the Fairchild and Hurburt Airforce Bases, the Army depot/supply core, the Navy Special Warfare Group, SOCOM (2 systems) and the Department of Veteran Affairs over the past 18 months.

"These initial units are being used to develop standard operating procedures and processes, and once developed, we expect to see follow-on purchases from each buyer. In addition, we are continually working to penetrate new parts of the U.S. government, including the DoD, to demonstrate the safety, hazard, efficiency and financial benefits of using our technology to drive sales to new customers within the organizations."

Cautionary Note Concerning Forward-Looking Statements
This press release contains "forward-looking statements" (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), including statements regarding the Company's plans, prospects, potential results and use of proceeds. These statements are based on current expectations as of the date of this press release and involve a number of risks and uncertainties, which may cause results and uses of proceeds to differ materially from those indicated by these forward-looking statements. These risks include, without limitation, those described under the caption "Risk Factors" in the Registration Statement. Any reader of this press release is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release except as required by applicable laws or regulations.

About Laser Photonics Corporation
Laser Photonics is a vertically-integrated manufacturer and R&D Center of Excellence for industrial laser technologies and systems. LPC seeks to disrupt the $46 billion, centuries old, sand and abrasives blasting markets, focusing on surface cleaning, rust removal, corrosion control, de-painting and other laser-based industrial applications. LPC's new generation of leading-edge laser blasting technologies and equipment also addresses the numerous health, safety, environmental, and regulatory issues associated with the old methods. As a result, LPC has quickly gained a reputation as an industry leader for industrial laser systems with a brand that stands for quality, technology and product innovation. Currently, world-renowned and Fortune 1000 manufacturers in the aerospace, automotive, defense, energy, industrial, maritime, space exploration and shipbuilding industries are using LPC's "unique-to-industry" systems. For more information, visit www.laserphotonics.com.

Laser Photonics Investor Relations Contact:
Brian Siegel, IRC®, M.B.A.
Senior Managing Director
Hayden IR
(346) 396-8696
brian@haydenir.com

SOURCE: Laser Photonics Corp.

View source version on accesswire.com:
https://www.accesswire.com/721262/Laser-Photonics-Completes-Order-for-US-Navy

FAQ

What recent delivery did Laser Photonics (LASE) announce?

Laser Photonics announced the delivery of the CleanTech Handheld LPC-1000CTH to the U.S. Navy Kingsbay Trident Re-fit Facility.

How much has Laser Photonics sold in military contracts?

Laser Photonics has sold eight systems for a total of $750,000 to various U.S. military branches.

What are the future expectations for Laser Photonics (LASE) sales?

The company expects follow-on purchases from military clients after developing standard operating procedures.

What is the significance of Laser Photonics' recent contract with the U.S. Navy?

The contract showcases Laser Photonics' growing presence in the defense sector and highlights the efficiency of its laser technologies.

What risks are associated with Laser Photonics' forward-looking statements?

Forward-looking statements involve risks and uncertainties that may affect future results and could lead to material differences.