Mechanical Technology Incorporated
Second Quarter 2018 Highlights
- For the first six months of 2018, revenue at MTI Instruments remains higher than the same time period of last year. Our current 13% growth has been attributed to an increase in product sales to Asia – this growth in Asia offset delays earlier this year with the U.S. Air Force under our current multi-year contract (new delivery orders finally restarted during the second quarter of 2018, after nine months of inactivity).
- Operations remain profitable – with $382,000 in operating income being recorded to date, compared to a $96,000 operating loss at this time last year. Our higher sales volume, improved product margins and lower engineering costs have driven this notable improvement in profitability.
- The Company continues to generate cash, with available cash of nearly $4,600,000 at the end of June 2018.
- In May, MTI Instruments began selling our renowned 1510 Precision Signal Generator on Amazon.com – the first product in the Company’s history to be sold on Amazon!
- The Company, as part of its long-term growth strategy, remains in discussions with other companies regarding potential mergers and/or acquisitions – however, no formal agreements have yet been entered into.
Second Quarter 2018 Highlights PDF