Fannie Mae, Freddie Mac shares tumble after conservatorship comments
CAMAS, Wash. - nLIGHT, Inc. (NASDAQ:LASR) has appointed Mark Hartman to its Board of Directors as a Class III director with a term expiring at the company’s 2027 annual meeting of stockholders, according to a press release statement issued by the company. The appointment comes as nLIGHT’s stock trades near its 52-week high of $18.49, having delivered an impressive 65% return over the past six months.
Hartman will also serve on the Audit Committee of the Board. He replaces Doug Carlisle, who resigned effective Thursday after serving as a director since 2001.
Hartman is a retired Chief Financial Officer from Woodward Inc. (NASDAQ:WWD), where he worked for 16 years beginning in 2007. He served in multiple senior finance roles before becoming CFO in 2021.
"Mark has a proven track record of financial management and operational excellence," said Scott Keeney, nLIGHT’s Chairman and Chief Executive Officer.
Prior to Woodward, Hartman worked at Arthur Andersen and Advanced Energy Industries, where he served as interim Chief Financial Officer from 2005 to 2006. He holds an MBA from Northwestern University Kellogg School of Management and a BBA in accounting from Western Michigan University.
nLIGHT describes itself as a provider of high-power lasers for directed energy, optical sensing, and advanced manufacturing applications. The company employs approximately 800 people with operations in the United States, Europe and Asia.
In other recent news, nLIGHT Inc. reported its Q1 2025 earnings, which slightly exceeded expectations. The company posted an earnings per share (EPS) of -$0.16, surpassing the forecast of -$0.17, and recorded revenue of $51.7 million, beating the anticipated $47.71 million. This performance was driven by a strong showing in the aerospace and defense sector, which saw a 50.4% year-over-year growth. Aerospace and defense revenues now constitute 63% of total sales, highlighting nLIGHT’s strategic pivot towards this segment. Despite challenges in the commercial market, the company remains optimistic about its defense-related growth, forecasting a 25% increase in 2025. Raymond James analyst Brian Gesuale reaffirmed a strong buy rating for nLIGHT, maintaining a $20 price target, citing the company’s robust performance and promising defense sector prospects. The firm particularly noted nLIGHT’s significant milestones in directed energy programs and its strategic shift towards defense, which is expected to enhance valuation multiples. These developments indicate a positive outlook for nLIGHT’s future growth, particularly in its defense business.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.