MIDDLEFIELD, Conn., Nov 3, 2011 (GlobeNewswire via COMTEX) --
Zygo Corporation (Nasdaq:ZIGO), a worldwide supplier of optical metrology instruments and high precision optical systems, today announced that its Optical Systems Division has been awarded a $4 million order from a major medical device manufacturer to produce high precision assemblies used in an ophthalmic medical device. Zygo will produce the devices at its Electro-Optics Group based in Tucson, Arizona, which specializes in metrology-based manufacturing and precision active assembly of optical systems for the life sciences, semiconductor and defense markets.
John Stack, President of the Optical Systems Division, commenting on the order, stated, "Zygo's capability to manufacture high precision, specialized optical assemblies in high unit quantities, combined with our ISO 13485-2003 medical device certification and FDA registration, continue to earn the confidence of the major participants in the medical device market. We are well-positioned to go beyond typical contract manufacturing by also providing engineering and design services critical to the needs of customers in this very demanding market segment."
Zygo Optical Systems Division specializes in the manufacture and assembly of high precision optics that are used in applications ranging from medical devices to semiconductor lithography to aerial reconnaissance optics. The division is made up of four manufacturing and engineering sites that occupy over 140,000 square feet and have been producing world class optics for over 40 years.
Zygo Corporation is a worldwide supplier of optical metrology instruments, precision optics, and electro-optical design and manufacturing services serving customers in the semiconductor capital equipment, bio-medical, scientific and industrial markets.
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All statements other than statements of historical fact included in this news release regarding financial performance, condition and operations and the business strategy, plans, anticipated revenues, bookings, market acceptance, growth rates, market opportunities and objectives of management of the Company for future operations are forward-looking statements. Forward-looking statements provide management's current expectations or plans for the future operating and financial performance of the Company based upon information currently available and assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan(s)," "strategy," "project" and other words of similar meaning in connection with a discussion of future operating or financial performance. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors. Among the important factors that could cause actual events to differ materially from those in the forward-looking statements are fluctuations in capital spending of our customers; fluctuations in revenues to our major customers; manufacturing and supplier risks; risks of booking cancellations, push-outs and de-bookings; dependence on timing and market acceptance of new product development; rapid technological and market change; risks in international operations; risks related to the reorganization of our business; dependence on proprietary technology and key personnel; length of the revenue cycle; environmental regulations; investment portfolio returns; fluctuations in our stock price; the risk that anticipated growth opportunities may be smaller than anticipated or may not be realized; risks related to business acquisitions, including the acquisition of substantially all the assets of ASML US, Inc.'s Richmond, California facility, and integration of the business and employees; the risks related to the Company's recent changes to senior management; and the risks associated with the recovery from the recent earthquake, tsunami and nuclear disaster in Japan and its impact on our customers, suppliers, and operations. Zygo Corporation undertakes no obligation to publicly update or revise forward-looking statements to reflect events or circumstances after the date of this news release except as required by law. Further information on potential factors that could affect Zygo Corporation's business is described in our reports on file with the Securities and Exchange Commission, including our Form 10-K for the fiscal year ended June 30, 2011, filed with the Securities and Exchange Commission on September 13, 2011.
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SOURCE: Zygo Corporation
CONTACT: John P. Jordan
Vice President and Chief Financial Officer