Sigma Labs (SGLB) saw its loss narrow to $0.27 million, or $0.04 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $0.30 million, or $0.05 a share. Revenue during the quarter plunged 44.70 percent to $0.32 million from $0.59 million in the previous year period. Gross margin for the quarter expanded 637 basis points over the previous year period to 93.47 percent.
"Were already well into 2017 and, with so much behind us, I feel the Company is in a position to see greatly improved performance going forward,” said Mark Cola, President and chief executive officer of Sigma Labs. "In a relatively short period of time weve raised much-needed growth capital, uplisted to the NASDAQ, signed several important strategic relationships, and won contracts with marquee customers such as Pratt Whitney and Siemens. Weve also landed a significant OEM Partner and are actively working on other business development initiatives, setting the stage for stronger growth in the quarters to come. In effect, weve done what we said we would do ��" winning new customers, joining with other leading companies to move the industry forward, and improving our balance sheet to take advantage of the opportunities to come. This year we have the wind at our backs, with unlimited potential for taking additive manufacturing to a whole new level."
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