Fibers.org has published an overview of Ignis Photonyx, a maker of planar lightwave circuits for FTTH and long-haul markets. Here’s the part that got my attention:

Ignis … reported revenues of NOK167 m (€21 m) in the first quarter of 2007, an increase of more than €18 m on the same period last year. And net income rose to €2.1 m, reversing a loss of €1.2 m in the first quarter of 2006.