BILLERICA, Mass., Aug. 9 /PRNewswire-FirstCall/ -- GSI Lumonics Inc.,
(Nasdaq: GSLI and TSX: GSI) announces the receipt of an order for MicroE
precision positioning systems from a southeast Asia-based, hard disk drive
manufacturer. The order, valued at $1.6 million U.S. will be shipped in the
third and fourth quarters of 2004.
"The demand for data storage remains strong and has grown substantially
over the last year, driven by IT upgrades, spending in the business sector and
the proliferation of new consumer electronics with embedded hard drives such
as set-top video recorders, MP3 players, digital cameras and cell phones,"
states Ray Sansouci, Vice President and General Manager of GSI Lumonics'
Components Division. "MicroE products have taken a strong leadership position
in precision equipment for the production of hard disk drives on a global
front."
GSI Lumonics acquired MicroE products and technology in May of this year
as part of the Company's strategy to expand its capabilities, add to its
diversity of component products and open opportunities for technology
synergies.
GSI Lumonics supplies precision motion control components, lasers and
laser-based advanced manufacturing systems to the global medical,
semiconductor, electronics, and industrial markets. GSI Lumonics' common
shares are listed on Nasdaq (GSLI) and The Toronto Stock Exchange (GSI). The
Company's web site address is http://www.gsilumonics.com.
Certain statements in this news release may constitute forward-looking
statements within the meaning of the United States Private Securities
Litigation Reform Act of 1995, Section 27A of the United States Securities Act
of 1933 and Section 21E of the United States Securities Exchange Act of 1934.
These forward-looking statements may relate to anticipated financial
performance, management's plans and objectives for future operations, business
prospects, outcome of regulatory proceedings, market conditions, tax issues
and other matters. All statements contained in this news release that do not
relate to matters of historical fact should be considered forward-looking
statements, and are generally identified by words such as "anticipate,"
"believe," "estimate," "expect," "intend," "plan," "objective" and other
similar expressions. Readers should not place undue reliance on the forward-
looking statements contained in this news release. Such statements are based
on management's beliefs and assumptions and on information currently available
to management and are subject to risks, uncertainties and changes in
condition, significance, value and effect. Other risks include the fact that
the Company's sales have been and are expected to continue to be dependent
upon customer capital equipment expenditures, which are, in turn, affected by
business cycles in the markets served by those customers. Other factors
include volatility in the semiconductor industry, the risk of order delays and
cancellations, the risk of delays by customers in introducing their new
products and market acceptance of products incorporating subsystems supplied
by the Company, similar risks to the Company of delays in its new products,
our ability to continue to reduce costs and capital expenditures, our ability
to focus R&D investment and integrate acquisitions and other risks detailed in
reports and documents filed by the Company with the United States Securities
and Exchange Commission and with securities regulatory authorities in Canada.
Such risks, uncertainties and changes in condition, significance, value and
effect, many of which are beyond the Company's control, could cause the
Company's actual results and other future events to differ materially from
those anticipated. The Company does not, however, assume any obligation to
update these forward-looking statements to reflect actual results, changes in
assumptions or changes in other factors affecting such forward-looking
statements.
For more information:
Ann Dempsey
GSI Lumonics Inc.
613-224-4868
Ext.2#
SOURCE GSI Lumonics Inc.
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Company News On-Call:
http://www.prnewswire.com/comp/107189.html
CONTACT:
Ann Dempsey of GSI Lumonics Inc.,
+1-613-224-4868, Ext.2#
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