Power Technology Inc. *
Category: Category II (26-75 Employees)
The laser products firm is now housed in a 25,000-SF facility with operations led by his twin sons, Walter and William, 35. The company employs a work force of 55, with domestic sales accounting for the biggest slice of more than $5 million in revenue.
Niche manufacturing of specialty products requiring custom work is the firm's trademark, providing bigger profit margins and more stable markets. Production based on laser components in the early years has since expanded to laser modules.
An emphasis on fabricating in-house components gives Power Technology an edge in responding to an order, requiring less lead time to gear up for production.
In addition to improved inventory management and quality control, integrated production allows the firm to pull off quick turnaround times.
Today's product line ranges from a $50 laser built to operate from a household electrical outlet to a $15,000 custom-made laser.
Company handiwork has helped equip deep-sea explorers as well as astronauts on shuttle missions. Power Technology products also are used to help detect trace gases with applications that include finding explosives or preventing oil rig fires.
The firm has enjoyed a surge in military-related laser projects for testing air-to-surface missiles and modernizing weapons system targeting for aircraft.
Among the commercial applications for Power Technology's laser-related products are inspecting semiconductors, scanning bar codes and in the biomedical market, aiding surgery procedures, DNA analysis and cancer detection.
Partnering with international concerns in Germany and Japan has helped Power Technology succeed in an industry dominated by much larger competitors.