Gsi Lumonics (NASDAQ:GSLI)
Historical Stock Chart
From Jun 2019 to Jun 2024
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