StockerYale Awarded Contract for Imaging System from Disc Drive Industry Leader
Company Exhibits Strong Orders and Expects Revenues of $3.5 Million in First Quarter
April 3, 2003
Salem, NH -- StockerYale, Inc. (NASDAQ: STKR), an independent supplier of photonics-based products, today announced that the Company has been awarded a $412,000 order for advanced imaging systems from the world's leader in the design, manufacturing and marketing of hard disc drives for enterprise, PC and consumer electronics applications
"Disc drive formats continue to get smaller while storage capacities continue to increase," said Christopher Cheong, managing director for StockerYale Asia located in Singapore. "Because the miniaturization of magnetic media presents formidable manufacturing challenges, we worked closely with our customer to develop a better inspection system that would improve their disc media yields and overall productivity." Cheong continued, "Our advanced imaging system will provide our valued customer with a state-of-the-art inspection solution that will greatly assist them in meeting their day-to-day manufacturing goals."
The Company expects to deliver its advanced imaging systems in the second quarter of 2003.
Commenting on this significant customer win, Mark W. Blodgett, StockerYale's chief executive officer said, "This order along with other recently announced customer wins resulted in first quarter bookings of $4.3 million. Revenues for the first quarter are expected to exceed $3.5 million resulting from an increase in shipments of lasers, LEDS, and specialty optical fiber. This represents a 22% increase over the first quarter of 2002," Blodgett added.
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, phase masks, and advanced optical sub-components 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. all 800-843-8011; Fax 603-893-5604;
Notice to Investors: This press release 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. StockerYale undertakes no duty to update any of these forward-looking statements. StockerYale and the StockerYale logo are trademarks of StockerYale, Inc. All other trademarks or registered trademarks are the property of their respective owners. # # #