StockerYale Asia Receives Largest Order to Date
Malaysian R&D Company Chooses StockerYale
For Its Turn-Key, Machine Vision Solution
February 5, 2004
Salem, NH -- StockerYale, Inc. (NASDAQ: STKR), an independent provider of advanced illumination and optical products, today announced that its subsidiary, StockerYale Asia PTE Ltd. in Singapore received an order valued at $659K U.S. for the delivery of an integrated machine vision system solution which incorporates hardware and software for an imaging management application. This order represents StockerYale Asia's largest single order to date.
The order was placed by one of Malaysia's largest R&D facilities established in early 2003 as the result of a collaborative effort between a U.S. based multinational company and the Malaysian Government. This burgeoning R&D center is positioning itself to become a leader in developing leading-edge technologies with a concentration on nanotechnology, electrochemistry, microelectronics, materials science, and information technology.
Christopher Cheong, managing director for StockerYale Asia located in Singapore stated, "After many months of hard work, we were extremely pleased to have been chosen to supply this growing R&D center in Malaysia with our turn-key machine vision solution. Shipments are scheduled for delivery by the end of the first quarter 2004," added Cheong.
"This order represents a great win for our Singapore team,"
said Mark W. Blodgett, StockerYale's chairman and chief executive
officer. "We are optimistic that the Asia-Pacific market is
recovering and we look forward to increased sales revenues from
our Singapore subsidiary during fiscal 2004," Blodgett continued.
About StockerYale
StockerYale, Inc., headquartered in Salem, NH, is an independent designer and manufacturer of structured light lasers, light emitting diodes, (LEDs), fiber optic, and fluorescent illumination technologies as well as specialty optical fiber and phase masks for use in a wide range of markets and industries including the machine vision, telecommunications, aerospace, defense and security, utilities, industrial inspection, and medical markets. StockerYale serves a widely varied, international customer base and reinvests a significant percentage of its revenues in R&D to meet the future requirements of its customers. StockerYale has offices and subsidiaries in the U.S., Canada, Europe, and the Pacific Rim.
For more information about StockerYale and their innovative products,
contact:
StockerYale, Inc., 32 Hampshire Rd., Salem, NH, 03079.
Call 800-843-8011; Fax 603-893-5604; Email .
Notice to Investors:
This press release contains forward-looking statements that do not give full weight to all the potential risks, but relate to StockerYale's plans, objectives, and expectations, which are dependent upon a number of factors outside of StockerYale's control including, but not limited to: uncertainty that StockerYale's new photonics-based products launched in 2002 will gain market acceptance; the risk that delays and unanticipated expenses in developing new products could delay the commercial release of those products and affect revenue estimates; the risk that one of our competitors could develop and bring to market a technology that is superior to those products that we are currently developing; and StockerYale's ability to capitalize on its significant research and development efforts by successfully marketing those products that the Company develops. You should also refer to the discussion under "Certain Factors Affecting Operating Results" in StockerYale's form 10K for additional matters to be considered in this regard. Thus, actual results may differ materially. All Company, brand, and product names are trademarks or registered trademarks of their respective holders. StockerYale undertakes no duty to update any of these forward-looking statements.
This press release also contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934 relating
to, among other things, the Company's future operating results and
sales trends. Reliance should not be placed on forward looking statements
because they involve known and unknown risks, uncertainties and
other factors which are in some cases, beyond the control of StockerYale,
which may cause the actual results, performance or achievements
of the Company to differ materially from anticipated future results,
performance or achievements expressed or implied by such forward-looking
statements.