FITCHBURG, Mass., Nov. 13, 2019 (GLOBE NEWSWIRE) -- Micron Solutions, Inc. (NYSE American: MICR) (the “Company”), a diversified contract manufacturing organization, through its wholly-owned subsidiary, Micron Products, Inc., producing highly-engineered, innovative components requiring precision machining and injection molding, announced results for its third quarter ended September 30, 2019.

In the third quarter 2019, the Company reported $4,331,000 in revenue, as compared to $5,002,000 in the third quarter of 2018, a 13.4% decrease. The net loss for the period was $507,000 compared to $77,000 in the third quarter of 2018. Adjusted EBITDA for the period was $80,000, compared to $410,000 in the third quarter of 2018.

Outlook:

CEO Bill Laursen commented, “During the third quarter we announced binding commitments of $3.7M with a leading medical technology company and a $1M annual contract award as part of a five-year program with an innovation leader in the defense market. We are currently readying these orders for production and expect these, and other anticipated pipeline opportunities, will be contributive in 2020.”  CFO Wayne Coll commented, “Revenue did not include the addition of the significant commitments from new customers announced during the quarter. We plan to start shipping to our new customers in the coming year.”  

About Micron Solutions, Inc.

Micron Solutions, Inc., through its wholly-owned subsidiary, Micron Products, Inc., is a diversified contract manufacturing organization that produces highly-engineered, innovative medical device components requiring precision machining and injection molding.  The Company also contract manufactures components, devices and equipment for military, law enforcement, industrial and automotive applications.  In addition, the Company is a market leader in the production and sale of silver/silver chloride coated and conductive resin sensors used as consumable component parts in the manufacture of integrated disposable electrophysiological sensors.  The Company’s strategy for growth is to build a best-in-class contract manufacturer with a specialized focus on plastic injection molding and highly-engineered medical devices and components requiring precision machining.

The Company routinely posts news and other important information on its websites:

http://www.micronsolutionsinc.com and http://www.micronproducts.com 

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Third Quarter 2019 Review