GSI Lumonics Announces Order for Precision Positioning Systems
August 09 2004 - 4:01PM
PR Newswire (US)
GSI Lumonics Announces Order for Precision Positioning Systems
BILLERICA, Mass., Aug. 9 /PRNewswire-FirstCall/ -- GSI Lumonics
Inc., (NASDAQ:GSLINASDAQ:andNASDAQ:TSX:NASDAQ:GSI) announces the
receipt of an order for MicroE precision positioning systems from a
southeast Asia-based, hard disk drive manufacturer. The order,
valued at $1.6 million U.S. will be shipped in the third and fourth
quarters of 2004. "The demand for data storage remains strong and
has grown substantially over the last year, driven by IT upgrades,
spending in the business sector and the proliferation of new
consumer electronics with embedded hard drives such as set-top
video recorders, MP3 players, digital cameras and cell phones,"
states Ray Sansouci, Vice President and General Manager of GSI
Lumonics' Components Division. "MicroE products have taken a strong
leadership position in precision equipment for the production of
hard disk drives on a global front." GSI Lumonics acquired MicroE
products and technology in May of this year as part of the
Company's strategy to expand its capabilities, add to its diversity
of component products and open opportunities for technology
synergies. GSI Lumonics supplies precision motion control
components, lasers and laser-based advanced manufacturing systems
to the global medical, semiconductor, electronics, and industrial
markets. GSI Lumonics' common shares are listed on Nasdaq (GSLI)
and The Toronto Stock Exchange (GSI). The Company's web site
address is http://www.gsilumonics.com/. Certain statements in this
news release may constitute forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995, Section 27A of the United States Securities Act of
1933 and Section 21E of the United States Securities Exchange Act
of 1934. These forward-looking statements may relate to anticipated
financial performance, management's plans and objectives for future
operations, business prospects, outcome of regulatory proceedings,
market conditions, tax issues and other matters. All statements
contained in this news release that do not relate to matters of
historical fact should be considered forward-looking statements,
and are generally identified by words such as "anticipate,"
"believe," "estimate," "expect," "intend," "plan," "objective" and
other similar expressions. Readers should not place undue reliance
on the forward- looking statements contained in this news release.
Such statements are based on management's beliefs and assumptions
and on information currently available to management and are
subject to risks, uncertainties and changes in condition,
significance, value and effect. Other risks include the fact that
the Company's sales have been and are expected to continue to be
dependent upon customer capital equipment expenditures, which are,
in turn, affected by business cycles in the markets served by those
customers. Other factors include volatility in the semiconductor
industry, the risk of order delays and cancellations, the risk of
delays by customers in introducing their new products and market
acceptance of products incorporating subsystems supplied by the
Company, similar risks to the Company of delays in its new
products, our ability to continue to reduce costs and capital
expenditures, our ability to focus R&D investment and integrate
acquisitions and other risks detailed in reports and documents
filed by the Company with the United States Securities and Exchange
Commission and with securities regulatory authorities in Canada.
Such risks, uncertainties and changes in condition, significance,
value and effect, many of which are beyond the Company's control,
could cause the Company's actual results and other future events to
differ materially from those anticipated. The Company does not,
however, assume any obligation to update these forward-looking
statements to reflect actual results, changes in assumptions or
changes in other factors affecting such forward-looking statements.
For more information: Ann Dempsey GSI Lumonics Inc. 613-224-4868
Ext.2# DATASOURCE: GSI Lumonics Inc. CONTACT: Ann Dempsey of GSI
Lumonics Inc., +1-613-224-4868, Ext.2# Company News On-Call:
http://www.prnewswire.com/comp/107189.html
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