Precision Optics Corporation Inc (OTCQB: PEYE), a company that designs and manufactures advanced optical instruments for the medical and defence industries, reported on Thursday its operating results on an unaudited basis for its third quarter fiscal year ended 31 March 2021.

The company reported revenues for the quarter ended 31 March 2021 at USD2.46m compared to USD2.37m for the year-ago period.

The firm posted net income of USD552,280 in the quarter ended 31 March 2021 compared to USD466,130 for the year-ago period.

The company's income per share basic and fully diluted remained the same at USD0.04 for the quarter ended 31 March 2021 and third quarter of fiscal year ended 31 March 2020.

Precision Optics' CEO, Joseph Forkey, commented, 'The market opportunity for micro-optic and 3D-enabled devices and components in the medical and defence industries continues to be robust. Large, established industry players, and well-funded start-up companies are looking for enabling technology partners, such as Precision Optics, that can make next generation products a reality. Over the past couple of years, we have made significant progress expanding the number of jointly developed projects in our engineering pipeline. We expect many of these to move into production in the coming year to help drive growth.'