POET Technologies Reports Second Quarter 2018 Financial Results

POET Technologies (TSXV:PTK), a designer, developer and manufacturer of optoelectronic devices for data communication and telecom markets announced its second quarter results ended June 30, 2018.

The company reported revenue growth of 16 percent year over year with its gross margin increased in the second quarter to 57.5 percent from 50.5 percent in the same quarter in the prior year.

As quoted in the press release:

Second Quarter Highlights:

• Announced a master collaboration with SilTerra Malaysia for certain fabrication processes and the manufacturing of POET’s Optical Interposer Platform;
• Executed agreement with Almae Technologies to co-develop transmit device solutions for POET’s Optical Interposer Platform; and
• Ended the second quarter with cash of US$10 million.

POET’s Chief Executive Officer, Dr. Suresh Venkatesan, commented, “Co-packaging of optics and electronics and chip-scale packaging for photonics components have emerged as the most actively discussed topics in the industry, with major data center operators demanding integrated solutions from module manufacturers. We believe that the POET Optical Interposer promises to fulfill this need by providing a more versatile and less costly solution than currently available in the market today. We continue to focus on the development and commercialization of multiple highly differentiated products leveraging our Optical Interposer platform. We anticipate demonstrating the superiority of our solutions with the shipment of prototypes to customers later this year. Moreover, the development of our interposer-compatible lasers, detectors and packaging processes are all on track, and we remain on target for initial revenues from these products in early 2019.”

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