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BUSINESS NEWS
Cognex Profitable as Machine Vision Systems Manufacturer Reports Third-Quarter Earnings NATICK, Mass., Oct. 28, 2020 — Cognex reported third-quarter revenue of $251.1 million, surpassing analysts’ and internal estimates for the period ending Sept. 27. The reported revenue of the Natick, Mass.-based machine vision systems developer and manufacturer represents a year-over-year increase of 37%. Cognex additionally reported quarterly earnings per share (EPS) of 49 cents, and non-GAAP EPS of 47 cents. The figures are year-over year increases of 104% and 96%, respectively. Zacks Equity Research had
LaserNetUS Awarded $18M by US DOE WASHINGTON, D.C., Oct. 28, 2020 — The U.S. Department of Energy announced $18 million in funding for LaserNetUS, a network of 10 high-intensity laser facilities at national laboratories and universities in the United States and Canada. The initiative, established in 2018, is...
EnPro Completes Acquisition of Alluxa CHARLOTTE, N.C., Oct. 28, 2020 — EnPro Industries announced that it has closed on its previously announced acquisition of Alluxa. The closing was announced Oct. 27. Alluxa specializes in optical fibers, filters, and coatings for the industrial technology, life science, and...
Brad Sherrard Named Chief Revenue Officer at Quanergy SUNNYVALE, Calif., Oct. 28, 2020 — Quanergy Systems Inc., a producer and developer of lidar sensors and smart perception technology, appointed Brad Sherrard to the position of chief revenue officer. Sherrard will lead the company’s global sales functions in addition to his...
Third-Quarter Semiconductor Market Performance Drives MKS Instruments Past Projections ANDOVER, Mass., Oct. 27, 2020 — MKS Instruments reported quarterly consolidated revenue of $589.8 million, up 28% year over year and nearly $46 million from last quarter. The company reported non-GAAP net earnings per share (EPS) of $1.93 — a 72% increase from last...
Himanshu Jain Named 2020 N.F. Mott Award Recipient BETHLEHEM, Pa., Oct. 27, 2020 — Himanshu Jain, T.L. Diamond Distinguished Chair in Engineering and Applied Science and professor of materials science and engineering at Lehigh University, has been named as the recipient of the 2020 N.F. Mott Award. The award, granted every two...
Corning Beats Projections, Reports Strong Third-Quarter Results CORNING, N.Y., Oct. 27, 2020 — Specialty glass maker Corning Inc. reported third-quarter GAAP net sales of just over $3 billion, beating 2019’s third-quarter mark of $2.93 million by 2%. GAAP earnings per share (EPS) totaled $0.48, compared to $0.38 for the third quarter of...
Continental Expands Lidar Portfolio with AEye Investment AUBURN HILLS, Mich., Oct. 27, 2020 — Automotive company Continental signed an agreement for a minority investment in California-based lidar company AEye. The companies will jointly develop a high-performance long-range lidar sensor based on AEye’s 1550-nm agile architecture,...
Nanohmics to Test Hyperspectral Imager on ISS AUSTIN, Texas, Oct. 27, 2020 — Nanohmics Inc., in collaboration with the University of Maryland and the NASA Langley Research Center, will send a prototype compact hyperspectral imager to the International Space Station (ISS) where it will be tested for calibration. The launch...
Corning Partners with Pixelligent on AR/MR Optics CORNING, N.Y., Oct. 26, 2020 — Corning Inc. announced a strategic collaboration with compound material supplier Pixelligent to further the development of augmented reality/mixed reality (AR/MR) optics. The collaboration aims to use Pixelligent’s optically transparent...
Max Planck, University of Ottawa Collaboration Extended Five Years OTTAWA, Ontario, Oct. 22, 2020 — The Max Planck Society announced an extended, five-year round of funding for the Max Planck—University of Ottawa Centre for Extreme and Quantum Photonics (MPC-EQP). The international collaboration supports workshops, student and researcher...
Teledyne Reports Third-Quarter Sales Decrease, Beats Projections THOUSAND OAKS, Calif., Oct. 21, 2020 — Teledyne Technologies Inc. reported third-quarter 2020 net sales of $749 million, and a year-over-year decrease of 6.6%, compared to third-quarter net sales of $802.2 million for the third quarter of 2019. The company posted a net income of $93.9...
Luxinar Expands North American Presence KINGSTON UPON HULL, England, Oct. 21, 2020 — Luxinar announced the establishment of a sales and service office located in Shelby Charter Township, Mich. The expansion aims to provide better support for the company’s North American customers. The laser company has regional offices in...
SMART Global Holdings to Purchase Cree LED Products Business NEWARK, Calif., Oct. 21, 2020 — SMART Global Holdings Inc. entered into an agreement with Cree Inc. to purchase the Cree LED Products business. The acquisition is valued at up to $300 million. SMART, a developer of electronics industry solutions for the memory, computing, and...
Convergent Photonics Awarded $2.5M for Manufacturing Center CHICOPEE, Mass., Oct. 21, 2020 — Convergent Photonics has been awarded a $2,581,109 grant from the Massachusetts Manufacturing Innovation Initiative to support the development of an advanced manufacturing center in partnership with Western New England University (WNE). Called a...
Photonics Digital Innovation Hub Lands €19M Investment BRUSSELS, Oct. 21, 2020 — PhotonHub Europe, a newly established pan-European photonics digital innovation hub, has been awarded a €19 million investment from the European Union’s Horizon 2020 program. The hub will help small- and medium-size enterprises (SMEs)...
Lumileds Names Steve Barlow to Lead Automotive Business Unit SAN JOSE, Calif., Oct. 20, 2020 — Lumileds announced the appointment of Steve Barlow as president of the company’s automotive business unit. Barlow has been leading the LED solutions business unit for more than three years and has held executive leadership roles at Lumileds...
World’s Most Powerful Laser Posts Milestone MAGURELE, Romania, Oct. 20, 2020 — Engineers of the dual-arm, 10-PW laser system housed in the Extreme Light Infrastructure—Nuclear Physics (ELI-NP) facility in Magurele, Romania, reported an operational milestone when an amplified pulse of 230 J passed through its final pulse...
SemiNex Corp. Opens Office in China PEABODY, Mass., Oct. 19, 2020 — SemiNex Corp. opened a sales and application engineering office in Liaoyang, China, supporting the high-power laser diodes manufacturer’s business on the Asian continent. Systems integration, product selection, and supply are among the primary...
Photonic Smart Coating Developer SunDensity Secures $2.5M in Seed Funding ROCHESTER, N.Y., Oct. 16, 2020 — SunDensity, developers of photonic smart coating (PSC) technology that increases solar power output, announced the closing of $2.5 million in initial financing. Clean Energy Ventures, a venture capital firm, led the round, in which Luminate,...
TOPTICA Announces Change to Executive Group MUNICH, Oct. 16, 2020 — TOPTICA announced that effective Oct. 1, Thomas Weber has stepped down from the company’s executive board. Weber, the company’s founding board member (operations and finance), is retiring and moving to TOPTICA’s supervisory board....
OFC 2021 Moves to June SAN FRANCISCO, Oct. 15, 2020 — Organizers announced that OFC 2021 will be held from June 6 to June 10, 2021, at the Moscone Center in San Francisco. The exhibition will be from June 8 to June 10. The conference was originally scheduled for March 28 to April 1. “By moving...
AdvanTech, Quanergy Partner for Lidar-Based Solutions SUNNYVALE, Calif., Oct. 15, 2020 — AdvanTech Service-IoT GmbH, an industrial computing solutions developer, and Quanergy Systems Inc., a producer and developer of lidar sensors and smart perception technology, announced their collaboration to build lidar-enabled 3D Internet of Things...
DARPA Awards Consortium $36M for Spinal Cord Injury Recovery Systems ARLINGTON, Va., Oct. 15, 2020 — As part of its Bridging the Gap Plus Program, DARPA awarded a consortium of universities, biomedical startups, and nonprofit organizations an award that supports the consortium’s development of interventions for spinal cord injuries. The...
TRUMPF Reports 8% Fiscal Year-End Sales Decline DITZINGEN, Germany, Oct. 14, 2020 — TRUMPF recorded a fiscal year 2019-2020 (ending June 30, 2020) decline in sales revenue of 8%, to €3.5 billion, compared to €3.8 billion for fiscal year 2018-2019. The company’s order intake fell to €3.3 billion, down €0.4...
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