Optical technology developer Electro Optic Systems (ASX:EOS) has recorded a 10% increase in net profit in 2009, despite a 5% decrease in revenue.
Profit grew to $2.4 million during the year, but revenue dipped to $37 million. The company did not declare a dividend.
Electro Optic Systems said it is poised for growth in 2010 across its operating sectors – military optics and aerospace – and that it was proceeding well with the government-funded expansion of its laser and optical capabilities for space debris surveillance.
EOS shares have fallen 2.26% today to $1.080.