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LASER FIRM'S ANNUAL REVENUE INCREASES TO $2.5 MILLION

Revenue at Ion Laser Technology, 263 Jimmy Doolittle Road, for the fiscal year ending March 31 totaled $2.5 million compared to $2.4 million in the same period a year ago, while earnings were $251,557 compared to $4,236 in the same period a year ago.

Lynn Barney, president, said working capital improved from $286,616 to $610,827 during the period.Barney said his company introduced three new products in May: an internal mirror laser, a single-frequency laser and a krypton laser. All of the lasers are air-cooled, which is the market segment in which the company is specializing.

ILT is a joint venture partner with Shanghai, China, and will start construction of a manufacturing facility in that area later this year. The Chinese partner is providing all of the money for the venture and ILT is providing the technology and marketing.