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Optics Market Weakness Means More Belt-Tightening at CVI

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by Melinda Rose, Senior Editor

LAKE FOREST, Ill., July 26, 2012 — CVI Melles Griot's lower-than-expected financial performance in the second quarter will mean cost-cutting will continue through the end of the year, the CEO of parent company Idex Corp. said this week. The restructuring is intended to "right size their cost structure" to drive profitability; cost-cutting measures at the lasers and optical equipment manufacturer have already resulted in a loss of about 20 percent of its workforce and one manufacturing facility. Albuquerque, N.M.-based CVI Melles Griot's products are used in spectroscopy, cytometry, remote sensing, target designation and...Read full article

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    Published: July 2012
    Glossary
    electronics
    That branch of science involved in the study and utilization of the motion, emissions and behaviors of currents of electrical energy flowing through gases, vacuums, semiconductors and conductors, not to be confused with electrics, which deals primarily with the conduction of large currents of electricity through metals.
    photonics
    The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
    acquisitionsAmericasAndrew SilvernailArizonaAsia-PacificAT FilmsBiophotonicsBusinessChinaconsolidationcost-cuttingCVICVI Melles GriotdefenseearningselectronicsEuropeguidancehead-count reductionhealth and scienceHSTIdexIllinoisImagingindustrialLaserslife sciencesM&AMatconMaterials & ChemicalsMelinda RosemergersOpticsphotonicsPrecision PhotonicsprofitprofitabilityrestructuringsalesSemrockworkforce cuts

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