Gross margin on a consolidated basis for the fourth quarter of $2.6 million was 37%, as a percentage of consolidated revenues, down from 43% for the same period in 2007. The company made an adjusted EBITDA loss of $541,000, as compared with an adjusted EBITDA loss of $196,000 for the same period in 2007.
Total revenue for the fiscal year 2008 ended June 30, 2008, increased 30% to $21.6 million, from $16.6 million reported for the same period in 2007. Gross margin widened 30% to $7.9 million during fiscal year 2008 compared to $6.1 million reported in the same period of 2007. Adjusted EBITDA of negative $1.12 million during fiscal year 2008 compared to a negative $1.28 million in 2007, is an improvement of $160,000, year on year.
John Fraser, president and CEO of Avensys, said: We are proud of our overall performance during fiscal year 2008. We are positioned to capitalize on a renewed growth driven by new digital media, communication devices, as well as technology shift to high output lasers in the fiber optic laser industry.
