Oak Industries Inc. (Waltham, MA), parent company of diode laser manufacturer Lasertron Inc. (Bedford, MA), reported sales of $104.8 million for the first quarter of fiscal year 1999 (ended March 31), up 32% from the $79.2 million reported for the same period in the previous year. Net income for the quarter reached $6.0 million ($0.33 per share, diluted), down 7% from the $6.5 million ($0.35 per share, diluted) reported for first quarter 1998.
The successful quarter was primarily driven by Lasertron, which logged a 34% increase in sales for the quarter over the year-prior period. On a per-quarter unit basis Lasertron's shipments of 980-nm pump modules doubled compared to first quarter 1998. The company also achieved a 28% increase in sales of DFB source lasers, on a quarter-to-quarter basis.
Lasertron's joint venture in China, Wuhan Telecommunication Devices Co. (WTD), has experienced a delay in customer approvals of its family of next- generation laser transmitters and receivers, and as a result WTD's sales declined 53% compared to results in the first quarter of 1998. Sales and profitability of WTD are expected to improve through the year as it qualifies new products at its customers.