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GARDNER, Mass. - Precision Optics Corporation, Inc. (NASDAQ: POCI), a designer and manufacturer of optical instruments for medical and defense industries, announced the appointment of Joseph P. "JJ" Pellegrino, Jr. to its Board of Directors. Pellegrino will also chair the company’s Audit Committee.Get deeper insights into companies like POCI with InvestingPro, offering comprehensive analysis of 1,400+ US stocks through detailed Pro Research Reports.
Bringing extensive operational and financial expertise, particularly in the medical device sector, Pellegrino’s appointment comes after his recent tenure as CFO of LeMaitre Vascular, Inc. (Nasdaq: LMAT), which concluded on March 7, 2025. Under his leadership, LeMaitre achieved remarkable growth with revenues reaching $220 million and maintaining a 14-year dividend growth streak. His career includes roles at Zoots, Inc., investment banking at Lehman Brothers, and directorship at Access Vascular, Inc.
Peter Woodward, Precision Optics’ Chairman, expressed confidence in Pellegrino’s ability to contribute to the company’s growth and innovation. Pellegrino brings valuable experience from LeMaitre, which maintains excellent financial health with a 13.14x current ratio and strong revenue growth of 13.6%. Woodward also acknowledged the retirement of Peter Anania from the Board, thanking him for his contributions post the Lighthouse Imaging acquisition.
Precision Optics, founded in 1982, focuses on micro-optics, 3D imaging, and digital imaging technologies. It serves the healthcare sector by providing advanced imaging systems for minimally invasive surgery and defense/aerospace applications that demand high-quality standards.
The company’s press release includes forward-looking statements based on management’s expectations and assumptions. However, it cautions that actual results may differ due to various risks and uncertainties.
This announcement is based on a press release statement from Precision Optics Corporation.
In other recent news, LeMaitre Vascular reported its fourth-quarter 2024 earnings, with earnings per share (EPS) reaching $0.49, surpassing the forecast of $0.46. Revenue also slightly exceeded expectations, coming in at $55.7 million against a forecast of $55.49 million, marking a 14% year-over-year increase. Following the earnings report, Oppenheimer downgraded LeMaitre’s stock rating from Outperform to Perform, citing concerns over the long-term sustainability of price increases that have contributed to the company’s premium valuation. Barrington Research also adjusted its rating from Outperform to Market Perform due to valuation concerns, highlighting the stock’s significant price increase since May 2023.
Meanwhile, JMP Securities raised its price target for LeMaitre to $113, maintaining a Market Outperform rating, based on the company’s consistent financial results and strategic initiatives. LeMaitre’s guidance for fiscal year 2025 suggests revenue in the range of $235.4-242.8 million, compared to Oppenheimer’s and the consensus estimates of $244.5 million and $240.2 million, respectively. The company plans to expand its sales force and has received approval for XenoSure in China, with sales projected to commence in the second half of 2025. These developments reflect LeMaitre’s ongoing efforts to bolster its market presence and drive growth through strategic expansions and product approvals.
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