SANTA CLARA, Calif., April 16 /PRNewswire-FirstCall/ -- Coherent, Inc.
(Santa Clara, CA)(Nasdaq: COHR), today announced that it has entered into a
definitive agreement to sell certain assets of Coherent's Auburn Optics
manufacturing operation to Research Electro-Optics, Inc. (Boulder, CO), a
privately held optics manufacturing and technology company. Consistent with
the asset transaction, Coherent and REO have entered into a strategic
supply agreement whereby REO will provide optical manufacturing
capabilities for Coherent, including fabrication and coating of optical
components. The transition of the optics manufacturing assets from Auburn
to Boulder will begin immediately and is expected to be completed no later
than the end of the second quarter of fiscal 2009. Coherent will further
discuss the transaction during its previously announced second fiscal
quarter financial results conference call on April 24, 2008 at 1:30 P.M.
P.T.
Forward-Looking Statements
This press release contains forward-looking statements, as defined
under the Federal securities laws. These forward-looking statements include
the statements in this press release that relate to the timing of the
transition of the optics manufacturing assets. These forward-looking
statements are not guarantees of future results and are subject to risks,
uncertainties and assumptions that could cause our actual results to differ
materially and adversely from those expressed in any forward-looking
statement. Factors that could cause actual results to differ materially
include risks and uncertainties, including but not limited to risks
associated with the timely transition of equipment and preparation of REO's
facility in Boulder, Colorado, and other risks identified in the Company's
SEC filings. Readers are encouraged to refer to the risk disclosures
described in the Company's reports on Forms 10-K, 10-Q and 8-K, as
applicable and as filed from time-to- time by the Company. Actual results,
events and performance may differ materially from those presented herein.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. The Company undertakes
no obligation to update these forward- looking statements as a result of
events or circumstances after the date hereof or to reflect the occurrence
of unanticipated events.
Founded in 1966, Coherent, Inc. is a world leader in providing
photonics based solutions to the commercial and scientific research
markets.
Please direct any questions to Leen Simonet, Executive Vice President
and Chief Financial Officer at 408-764-4161. For more information about
Coherent, visit the Company's Web site at http://www.coherent.com/ for
product and financial updates.
SOURCE Coherent, Inc.
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Related links:
http://www.coherent.com/
CONTACT:
Leen Simonet, Executive Vice President and
Chief Financial Officer of Coherent, Inc., +1-408-764-4161,
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