Photon Control Reports Third Quarter 2010 Financial Results

BURNABY, B.C., Nov. 17 /CNW/ - Photon Control Inc. ("Photon Control") (TSX-V: PHO), a leading developer of innovative measurement technologies, released its unaudited financial results for the third quarter (Q3) of 2010, ending September 30, 2010.

Sales revenue continued to be strong during the third quarter of 2010 enabling Photon Control to achieve another solid quarter of operating income.  Product sales in Q3 2010 were $3 million, an increase of 100% over Q3 2009 sales of $1.5 million.  As anticipated, in the nine months ended September 30, 2010 sales revenues remained strong contributing to Photon Control's continued profitability trend.   Sales from the nine months ended September 30, 2010 totalled $10.5 million compared to $2.8 million for the nine months ended September 30, 2009, surpassing the annual sales volumes of 2009.

Photon achieved a profitable quarter in Q3 2010 with $639,182 in earnings compared to $343,340 in Q3 2009.  These results were mainly attributed to an improved economic environment and semiconductor market conditions, and supported by a steady flow of non-semiconductor product orders. 

The third quarter of 2010 continued to report a strong order backlog.  At September 30, 2010, Photon Control's order backlog stood at $2.4 million, slightly decreased compared to $2.6 million in Q3 2009 mainly due to changes in the scheduling of some projects.  The Company's order backlog represents the total value of committed sales orders fulfilled and/or waiting to be fulfilled in the fourth quarter of 2010. 

Photon's financial results and MD&A are available at www.sedar.com and will be posted on Photon's website.

Forward-Looking Statements: This news release contains forward looking statements, including statements regarding the business and anticipated financial performance of the Company, which involve risks and uncertainties.  These risks and uncertainties may cause the Company's actual results to differ materially from those contemplated by the forward-looking statements.  Factors that might cause or contribute to such differences include, among others, competitive pressures, competing technologies and the market acceptance of the Company's photonic-based products as a replacement to existing technologies and products.  Readers are encouraged to consider the other risks and uncertainties discussed in and additional information contained in the Company's required financial statements and filings filed on SEDAR at www.sedar.com.

About Photon Control Inc.    www.photon-control.com

Photon Control Inc. commercializes and manufactures opto-electronic products for measurement and control.  All Photon Control's products have competitive advantages in both performance and cost.  Markets for Photon Control's products include semiconductor capital equipment, oil and gas, energy, life sciences and research.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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