You recently saw one of the most widely known and respected companies go under (Newnes) and that happened but a few months into a recent economic depression. If you have watched closely, you will have also seen several similar companies hire and fire over the years reacting to market fluctuations. Lucidyne now has about 52 employees, 24 of whom are engineers. The average length of time most of these people have been with the company is 15 years out of the 29 years the company has been in business. That speaks strongly of job satisfaction and dedication.
The company operates on cash; we do not go to the bank every month to borrow money for payroll. We have no debt besides what we owe our suppliers on a monthly basis. If you were going to try to purchase Lucidyne today, you would be buying people and technology (including patents), because that is what gives value to our company.
You know of some of our most recent patents – True-Q is the most obvious since it allows us to track lumber and tie real-time data from other lineal sensors (ex: MSR, Moisture) to individual boards. Another is our GA sensor for absolute grain angle measurements both on the surface and into the board. This is now operating in two mills. If you purchased a scanner, we have already designed in a place for the sensor so when we get it to the point where it will give you another jump in value uplift, it is easy to bring it on line. Our T3 sensor is now being installed in new and old scanners to provide excellent decay detection in the West and stain/blonde knot help in the South. Plus, we just doubled the resolution on two of our sensors – we now can find Timber Break reliably! This is a huge testament for how Lucidyne is preparing for the future. It also shows Lucidyne believes that there is a lot more information to capture from lumber than can be done by humans or a system that is limited to just a couple sensors.
We consider ourselves experts in scanning technology and make it a point to not dilute our skills and attention by trying to provide lots of other machine centers. We remain focused on scanning and the surrounding technologies that support it. For example, our newest M5 GMR is a technological leap beyond our original GMR. It has been a hit with our existing customers and the retrofit business it provides is an important part of what is keeping us going right now. We have so far installed almost 200 units and are aimed at replacing most of our current installed base of 671 original GMRs. We also have continuing business in trimmer/sorter control system work that many times is utilized when we install a scanner and/or GMR.