Cyalume Technologies Holdings, Inc. (OTCQB: CYLU) said it has reported its financial results for the second quarter ended June 30, 2015.
Cyalume´s President & CEO, Zivi Nedivi noted, “Continuing to build on a solid Q1 2015, gross profit for the second quarter of 2015 benefited from a favorable sales mix of higher margin products, in addition to a notable increase in overall revenues, as compared to the prior year. Revenues benefited by the start-up of a new M1110 training ammunition sales contract. We are extremely pleased with these results and expect to demonstrate a continuance of this improvement trend in the coming quarters.”
Dale Baker, Chief Operating Officer, stated, “Our continued focus on controlling costs and improving manufacturing efficiencies again contributed to the improved profitability for the quarter. Cost reduction, in both production and administrative areas, remains a high priority.”
Cyalume designs and manufactures non-pyrotechnic tactical products and training solutions for the world´s militaries and law enforcement agencies, as well as for certain safety markets. Cyalume is the exclusive supplier to the US and NATO-country militaries for all of their chemical light needs and operates manufacturing facilities in the US and France. Through its subsidiary Cyalume Specialty Products, Cyalume also manufactures specialty chemical components for various markets.