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VALLEY ROUNDUP

Photo Acoustic Reports $500,000 Rise in Revenue

November 17, 1987

Photo Acoustic Technology in Westlake Village said its revenue has increased about $500,000 after it filled orders from NASA, Morton Thiokol and United Technologies.

Photo Acoustic Technology President Mantosh Chawla said he expects the orders will increase both the company's revenue and profit. In the second quarter ended July 31, Photo Acoustic reported revenue of $350,077 and a profit of $70,738.

Photo Acoustic makes monitors that scan sensitive surface areas for contamination. For example, Morton Thiokol uses one of Photo Acoustic's systems to check the surfaces of the space shuttle's solid rocket fuel boosters for contamination before it can complete some critical bonds.

The company also announced that it has reduced the conversion rate of its outstanding warrants from $3 to $1.75. Each warrant will allow the holder to purchase one Photo Acoustic share at $1.75. Proceeds from the conversions will be used for research and development, acquisition of new products and expansion of the company's marketing campaign.

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