2011-2012 earnings unveiled - INO consolidates its leadership with outside revenues up 41%
QUEBEC CITY, June 14, 2012 /CNW Telbec/ - Jean-Yves Roy, President and CEO of National Optics Institute (INO), painted a positive portrait of the company's accomplishments over the last twelve months at the Annual General Meeting this morning. "Our results, particularly the considerable increase in outside revenues, clearly demonstrate the value of our activities and INO's key role in developing technologies for Canadian businesses," explained Mr. Roy.
During the 2011-2012 fiscal year, INO posted overall earnings of $37.6 million, including a remarkable jump in outside earnings of 41% over last year. Outside revenues hit a record high of $17.1 million over the past fiscal year.
TANGIBLE RESULTS FOR SCIENTIFIC AND TECHNOLOGICAL CAPITAL
This year's R&D investments resulted in the addition of 11 new patents to INO's scientific and technological roster, bringing the total number of patents held for technological innovations developed by INO's scientific and technical teams to 147. Another 103 patents are pending. In 2011-2012, INO created a new spinoff company and completed four technology transfers to existing companies as well as a managerial transfer.
INO spinoffs generated 28 new technology companies, all of which are still active. They have created over 600 highly skilled jobs, and exports represent 80% of their sales. INO has also transferred no fewer than 50 technologies developed by its research teams to established businesses. In addition, it has completed more than 5,000 research and service assignments for innovation firms and organizations over the years.
"Thanks to our deep expertise, versatile platforms, and keen understanding of our clients' needs, we at INO help all sorts of Canadian companies boost market share in a global economy where agility in innovation are key growth drivers," added Mr. Roy.
ATTUNED TO INDUSTRY NEEDS
Over the last year, INO participated in a number of Quebec consortiums such as the Cleantech Cluster, Ecotech Québec; the Consortium for Research and Innovation in Aerospace; the Québec Consortium for Drug Discovery; and the Drone Center of Excellence. It also organized a major symposium in cooperation with the Quebec Photonic Network on the technology issues and challenges of harnessing Quebec's natural resources under the Plan Nord.
In 2011-2012, INO worked with investor groups to help startups gain easier access to capital. A special effort was made to interact with three seed funds recently created in Quebec, as well as with Anges Québec.
At Alberta's invitation, INO took part in an innovation and marketing symposium organized jointly with the Jalisco State Science and Technology Council in Mexico.
INO also sent speakers to the Fourth International Symposium on Photonics and Optoelectronics in China and the International Semiconductor Tradeshow in Tokyo.
INO was invited by South Africa to attend a Photonics Symposium it hosted
The development of INO's expertise and the resulting spinoffs for companies are made possible by Federal and Provincial government funding. "Government backing remains essential if our organization is to maintain its rate of growth and continue its mission to provide solutions that benefit Canadian businesses and our economy. The money is invested directly in projects supporting identified industry needs, primarily in SMEs," said Mr. Roy.
A leading technology designer and developer, INO is the largest center
for industrial optics and photonics expertise in Canada. The leader in
its field internationally, INO has so far completed over 5,000 custom
R&D contracts for Quebec and Canadian companies working in a variety of
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