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Zygo Reports Record Profitability for Q4 2011

Photonics.com
Aug 2011MIDDLEFIELD, Conn., Aug. 24, 2011 — Precision optics and metrology company Zygo Corp. has posted fourth-quarter net earnings of $6.1 million, or $0.33 per diluted share, a 49% increase, compared with $4.1 million, or $0.23 per diluted share, in the prior year quarter.

The company also announced a net income of $19.1 million on full-year revenues of $150.1 million, swinging from a net loss of $6.3 million last year. Sales also increased 48% on the prior year.

“The combination of expanding demand for metrology and optical test equipment initiatives that improved both metrology and optics margins have enabled the strong fiscal year,” said Dr. Chris Koliopoulos, president and CEO. “Although it has been reported that certain markets are beginning to reflect cyclical weakness, our strength through innovative product offerings and market diversity appears to be contributing to the uniformity and continuity of our bookings and revenue.”

In the closing of fiscal 2011, the company also saw strong sequential growth, with both revenues and bookings up 6% on the third quarter.

For more information, visit: www.zygo.com  More news & features