poLight ASA – Progress continues in several market segments
* poLight received a follow-up purchase order related to the Honeywell EX30 barcode scan engine.
* Feedback from Honeywell EX30 users has so far been positive.
* Generally good progress on customer cases – both in consumer and professional markets.
* The visibility for smartphone market breakthrough has increased.
Horten, 19 February 2021 - poLight ASA (OSE: PLT) today announced its results for fourth quarter of 2020.
During the quarter, poLight made progress in positioning TLens, and its technology platform more generally, for augmented reality, smartphones, accessories, industrial and medical use cases. There has been high interaction with the smartphone ecosystem during the quarter, and progress has led to market release discussions.
The announced barcode scan engine design-win is for the Honeywell EX30 product. According to Honeywell’s website: “The Extended FlexRange™ EX30 2D Scan Engine for warehouse and distribution centre operations seamlessly reads barcodes from a distance of 10 cm to 20 m using the latest technology for a fast auto-focus mechanism.” During the quarter, poLight received a follow-up order to establish buffer stock.
EBITDA in the fourth quarter was NOK -10.0 million, compared with an EBITDA of NOK -13.7 million in the fourth quarter of 2019.
Cash at 31 December 2020 came to NOK 77.2 million.
“poLight continues to make headway in several consumer and professional market segments. It is impressive to see how our small and distributed organisation is handling and maturing the various cases. Customer feedback has been positive, and we are working very closely with several key market players. Interesting times!”, said Øyvind Isaksen, the CEO of poLight.
Q4 report and presentation
Please find the report and presentation for Q4 2020 enclosed.
Presentation and webcast
CEO Øyvind Isaksen and CFO Alf Henning Bekkevik will present the company’s results today at 08:30 CET through live webcast. Please join the Q4 2020 results webcast by clicking here:
The presentation and supporting material will be given in English.
A recorded version of the webcast will be made available on www.polight.com shortly after the broadcast has been concluded.
Further information from:
Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98
Alf Henning Bekkevik, CFO, poLight ASA: +47 91 63 05 14
About poLight ASA
poLight offers a new autofocus lens, which "replicates" the human eye, for use in devices such as smartphones, wearables, barcode readers, machine vision systems and various types of medical equipment. poLight's TLens® enables better system performance and new user experiences due to benefits such as extremely fast focus, small footprint, no magnetic interference, low power consumption and constant field of view. poLight is based in Horten, Norway, with offices in Finland, France and China and representation in Taiwan and Korea. For more information, please visit https://www.polight.com