Laser Photonics Corporation has released its annual report for the fiscal year ending December 31, 2024. The company's net sales increased towards the second half of the year, primarily due to the acquisition of Control Micro Systems, Inc. $(CMS)$ and steady sales of traditional products. Despite competitive pressures, sales remained stable due to lower prices and proprietary know-how. The net loss for the year was reported at $2.52 million, a decrease from the $3.32 million net loss recorded in 2023. The company attributed the loss to increased expenses related to scaling up sales and production, as well as costs associated with public company operations and research and development for new laser blasting equipment. No significant impact from inflation was reported for the period. The company continues to focus on expanding its laser equipment offerings for material processing and anticipates a decline in expenses as a percentage of net sales as sales grow beyond fixed costs.
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