Zygo Reports Fourth-Quarterand Fiscal 2000 Results
MIDDLEFIELD, Conn., Aug. 24 -- Zygo Corp., manufacturer of noncontact interferometric systems and custom optical components, reported net sales for the fiscal year 2000 ended June 30 reached $87.2 million, an increase of about $23.9 million compared with the same 1999 period. The company cited the strong demand for its proprietary manufacturing and yield enhancement solutions as part of the reason for the increase.
Net profit for fiscal year 2000 reached $4.8 million, excluding nonrecurring one-time charges, or 34 cents per share, compared with a net loss of $3.9 million, or 33 cents per share, for the same period last year. Related to the expansion into fiber optic components, the Company recorded nonrecurring acquisition and reorganization-related charges of $24 million in the fiscal year ending 2000 that further streamlines its business units.
We are extremely excited about the platform we have built in the high growth area of optical components manufacturing, said Bruce Robinson, the company's president and CEO. The acquisition of Firefly Technologies, a vertically integrated micro-optic and MEMS manufacturing company, and the subsequent creation of Zygo TeraOptix has provided a solid base which we can leverage to capitalize on the double-digit growth of the optical components manufacturing opportunity.
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