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25 Feb 2005
Including news from GSI Lumonics, Kopin, Lockheed Martin, CDT, and more.
Financial results:
• Microdisplay manufacturer Kopin has reported a full-year 2004 revenue of $87.4 million, an increase of 14% from $76.6 million in 2003. "We finished 2004 with the second highest revenue total in our company's history," said president and CEO John Fan. The company is a supplier to firms such as Samsung, Konica Minolta and Matsushita (Panasonic), and the US military.
• GSI Lumonics, a supplier of lasers and laser components, has announced a 45.7% increase in sales for the fourth quarter of 2004. The firm recorded sales of $80 million compared to $54.9 million for the same quarter in 2003. The firm attributes its improved performance to the acquisition of MicroE Systems and Westwind, combined with strong market conditions for semiconductor and electronics equipment. "We anticipate lower sales in 2005 due to slowdown in the semiconductor, PCB and data storage sectors from the strong expansions this past year," commented Charles Winston, GSI Lumonics president and CEO.
• Lumenis, an Israeli manufacturer of medical laser systems, has reported an operating profit of $5.3 million for fiscal 2004 compared with an operating loss of $58.4 million in 2003. "I am pleased by the progress made on all fronts - significant improvement in margins, a large reduction in operating costs and an impressive $21.8 million in operating cash flow," said Lumenis president and CEO Avner Raz. "We still have work ahead of us to drive greater efficiencies into our activities, but I am satisfied with the overall progress seen this past year."
Contracts:
• Japanese firm Toppan Printing and UK-based Cambridge Display Technology have started phase-two of their joint program to explore alternative printing processes for light emitting polymer (LEP) displays. Phase-two aims to produce very low-cost displays by roll-to-roll printing of LEP materials onto a glass substrate.
• US Defense Advanced Research Projects Agency (DARPA) has selected BAE Systems of North America to develop a laser-guided, low-cost optical seeker for the 60 mm mortar. The 24 month project, named Optically Directed Attack Munition (ODAM), is worth $9 million in funding. It will culminate with a live demonstration.
• It has been a good week for Lockheed Martin. The US defense contractor has been awarded a $247 million follow-on production contract for Arrowhead, the night vision and target acquisition sensor featured in the AH-64 Apache helicopter. In addition, the firm has received its first electro-optical targeting system (EOTS) from BAE Systems Avionics in Edinburgh, UK, for the F-35 Joint Strike Fighter project. The laser-based JSF EOTS system enables precision-range measurements and designates tactical targets for laser guided weapons.
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