GSI GROUP INC NEW (PINK:LASR)
has been fighting to hold the up move these days. Last Thursday, the stock started to
make positive price changes. On Friday, it added approximately 1% to its price and traded over 417 thousand shares on the market.
However, nobody knows the reason for the sequential up movement of LASR as there is no recent news on the company's business.
The last announcement by GSI GROUP appears to be the change of its shareholders' annual meeting date from 30th of September to 23rd of November, 2010. The company released the news 10 days ago, stating that it would also file its improved quarterly reports "on or before October, 15".
After the announcement was published, no other information on the company was reported.
GSI Group Inc. supplies precision motion control components, lasers and laser-based advanced manufacturing systems to the global medical, semiconductor, electronics, and industrial markets. The company ended the last year on low-trade, though this year the stock started to climb, reaching $3.00 per share in May.
Now LASR is struggling to keep the small progress, though it is too soon its movement to be determined. According to the company's financial results from 2008, its revenue and gross profit got higher, however, the operating loss has increased by approximately 10 times.
Presently, GSI GROUP makes optimistic projections for its financials, though, the results are up to be seen.