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|Zygo Corporation Receives $6.8 Million of Laser Fusion Optics Contracts|
MIDDLEFIELD, CT, Oct 03, 2006 (MARKET WIRE via COMTEX News Network) -- Zygo Corporation (NASDAQ: ZIGO) announced today that it has received $6.8 million of contracts for delivery of laser damage tolerant high precision optics. The Company has booked in its first quarter of fiscal 2007 $1.9 million of the contracts which are scheduled for delivery over the next year. The balance of the contracts will be booked during the fiscal quarter which ends within twelve months of scheduled delivery. The work will be performed at ZYGO's custom optics and optical coating facility located in Middlefield, Connecticut.
"ZYGO is pleased to be selected for these follow-on contracts from one of our high energy laser customers," said Bruce Robinson, President and CEO of Zygo Corporation. "ZYGO is dedicated to servicing these customers with precision quality amplifiers, polarizers, and other specialized optical components critical to laser performance. This brings the total amount of contracts received from this customer over the past fifteen months to in excess of $14.0 million."
High-energy laser tolerant mirrors are a key element for all high energy laser systems that are used for fusion research. Lasers that are used to initiate a fusion reaction are reflected from the source to the fusion target chamber via a series of mirrors. Due to the high energy levels necessary to initiate a fusion reaction, it is necessary for the reflecting mirrors not to be damaged during the lasing process.
Zygo Corporation (NASDAQ: ZIGO), headquartered in Middlefield, Connecticut, is a worldwide supplier of optical metrology instruments, precision optics, and electro-optical design and manufacturing services, serving customers in the semiconductor capital equipment and industrial markets. See ZYGO's web site at www.zygo.com for additional information.
All statements other than statements of historical fact included in this news release regarding our financial position, business strategy, plans, anticipated growth rates, and objectives of management of the Company for future operations are forward-looking statements. Forward-looking statements are intended to 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," "plans," "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 net sales to our major customer, manufacturing and supplier risks, dependence on and timing of new product development, rapid technological and market change, risks in international operations, dependence on proprietary technology and key personnel, length of the sales cycle, environmental regulations, and fluctuations in our stock price. 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, 2006.
For Further Information Call: Walter A. Shephard Vice President Finance, CFO, and Treasurer Voice: 860-704-3955 Contact via http://www.marketwire.com/mw/emailprcntct?id=E178A19653B8A51F
SOURCE: Zygo Corporation
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