POET Technologies Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported revenue of $576,741. Net loss was $3,438,620 or $0.02 per basic and diluted share compared to $2,915,979 or $0.02 per basic and diluted share a year ago.

For six months, the company reported revenue of $576,741. Net loss was $6,417,573 or $0.03 per basic and diluted share compared to $5,001,347 or $0.03 per basic and diluted share a year ago. Cash flows used in operating activities was $4,668,379 compared to $2,971,785 a year ago. Purchase of property and equipment was $118,085 compared to $28,424 a year ago.

The company expects revenue in the second half of 2016 to exceed $2,000,000, driven primarily by the increased sales of sensor products weighted toward the end of the year. The company also plans to announce several new products in the second half of the year, which is expected to support continued growth into 2017.