My note: Luna Innovations had another outstanding quarterly report yesterday. revenues for the quarter ended September 30th of 2019, were $18.4 million, compared to revenues of $10.7 million for the same period of the prior year, representing a 72% year-over-year increase. The increase in revenues year-over-year was composed of 122% increase in Luna's product and licensing segments along with a 22% increase in it's technology development segment.The following are CEO Scott Graeff's comments about Luna's terahertz division Terametrix.
https://seekingalpha.com/article/4302958-luna-innovations-incorporated-luna-ceo-scott-graeff-q3-2019-results-earnings-call-transcript?part=single
Scott Graeff
Now moving on to Terahertz. Our product line is continuing the strong momentum built in previous quarters, with a robust double-digit increase in revenues for the third quarter compared to the prior year period. New sales and continued growth into the aerospace non-destructive testing, process control and research markets were strong in Q3.
And we continued with our strategy of enhancing market presence by deploying Terahertz sensors in the applications where high precision, high speed measurement or tolerance of harsh environments is required. During the quarter, we were awarded an Air Force contract to develop and install multiple Terahertz process control sensors used in the refurbishment of aircraft at Hill Air Force Base.
As you’ve heard me say in the past, the main drivers for Terahertz adoption haven’t changed. They are effective thickness control, lower manufacturing costs, minimization of waste and the optimization of product quality. We’ve maintained a good balance between ensuring efficiency in our daily operations, while still investing in growth opportunities.
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