DALLAS, Feb. 9, 2010 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring Irvine Sensors Corp. (Nasdaq:IRSN). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The full report is available at: http://www.investorsoup.com/lp/IRSN
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Irvine Sensors Corp. (IRSN) and its subsidiaries (collectively, the Company) is a vision systems company enabled by technology for three-dimensional packaging of electronics and manufacturing of electro-optical products. The Company designs, develops, manufactures and sells vision systems, miniaturized electronic products and higher level systems incorporating such products for defense, security and commercial applications. The Company also performs customer-funded contract research and development related to these products for the U.S. government customers or contractors.
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In the report, the analyst notes:
"Total revenues for fiscal 2009 were $11,536,200 compared to total revenues of $16,677,000 for fiscal 2008, an approximate 31% decrease. Despite this decrease, income from continuing operations was $856,400 in fiscal 2009 compared to a loss from continuing operations of $12,800,000 in fiscal 2008, an over $13.6 million improvement. This fiscal 2009 improvement was largely the result of an approximate $8.6 million gain realized from sale of patent assets ...
"IRSN recently announced that one of its existing purchase orders with Optics 1 Inc., of Manchester, New Hampshire, an optical systems designer and manufacturer, has revamped to include initial units of Clip-On Thermal Imager (COTI) systems to be built under a $37.8 million contract recently awarded to Optics 1 by the Naval Surface Warfare Center of Crane, Indiana. The COTIs to be delivered under the new contract are intended for use by special operations forces.
"Per the agreement, the Company will serve as a subcontractor supplying thermal imagers to Optics 1. IRSN said it anticipates the amount of its subcontract will ultimately exceed $18 million in support of this job."
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