|Zygo Corporation's Optics business segment Awarded Follow-On Medical Contract of $10.2 Million|
|MIDDLEFIELD, CT, Jun 29, 2007 (MARKET WIRE via COMTEX News Network) -- Zygo Corporation (NASDAQ: ZIGO), a leading worldwide optical
metrology supplier, today announced that it has been awarded a $10.2
million follow-on medical assembly contract that will ship over the
next 18 months. This brings the Corporation's awards for medical
device contracts in fiscal 2007 to $27.0 million compared to $10.0
million in fiscal 2006. Part of an overall strategic initiative to
grow the Corporation's electro-optics contract manufacturing
business, medical devices now represents one of the fastest growing
areas of the Zygo Corporation. The initiative, started in 2005,
leverages a wide range of existing core capabilities and remains a
strong area of market focus as the division continues to expand its
Tucson, Arizona, and Costa Mesa, California operations.
John Stack, ZYGO's Optics business segment President, made the following comments: "Over the past year, ZYGO has made several strategic commitments to support our rapidly growing base of medical customers, such as the successful FDA certification requirement (ISO 13485:2003) of our Tucson, Arizona electro-optics production facility. This, in conjunction with our ongoing development of core strengths in high precision alignment, metrology, and world-class tooling design, has created significant differentiation not easily replicated throughout the industry." Mr. Stack also commented, "The increased demand for high precision medical devices continues to be driven by an aging population and the willingness of consumers to pay a premium for elective procedures that improve quality of life. Given these factors we feel the opportunities for growth in the medical market are very good and will continue to provide a strong focus for the division."
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, market opportunities, 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. 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. 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 Email Contact
SOURCE: Zygo Corporation
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