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15 Nov 2002
Including news from EMCORE, Telops, DRS Technologies, Highwave Optical Technologies and more.
• EMCORE, the US maker of semiconductor fabrication equipment and supplies, has seen its sales pick up 25% for the three months ended September 30. Revenues for the firm's fourth fiscal quarter rose USD 5 million to reach USD 25 million. During the period, sales for systems and materials grew by 14 and 35% respectively.
• Telops of Canada, a maker of optoelectronic systems for the defense, aerospace and telecommunications industries, is to open a new office in Fort Wayne, Indiana, US. The company says that having a US base will bring it closer to some of its major clients.
• Highwave Optical Technologies, the French maker of devices for fiber optic networks, has hit tough times. Revenues for the past sixth months (1 April to 30 September) have plummeted to EURO 2.3 million, down from EURO 20.9 million for the same period last year. Net loss for the period was EURO 22.9 million.
• DRS Technologies, US, has won two new military contracts totalling USD 2.5 million for its high-speed digital imaging systems. The US Navy and the Canadian Department of National Defense will use the equipment to evaluate "airborne weapons release processes". Product deliveries are expected to begin next year.
• VISX, a developer of laser vision correction systems has terminated its merger with fellow US firm Medjet. "We have chosen to focus on a number of areas that we believe align our resources efficiently and maximize our R&D investment," said VISX's president Liz Davilla.
• Sir Elton John has revealed he is planning to have corrective laser eye surgery in February 2003. The pop star made the announcement during an interview on British television. He also said he plans to auction off his infamous collection of some 4000 pairs of glasses.
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