Zygo Corp. announced that sales and earnings for the second quarter of fiscal 2002 ending December 28, 2001 will be below the current estimates. The company expects sales to be in the range of $18,000,000 to $20,000,000, with a loss per share of between $0.29 and $0.33. These estimates exclude any gain to be realized from the previously announced sale of the Automation Systems Group to Brooks Automation.
The deterioration in the expected results for the second quarter of fiscal 2002 is primarily due to reduced shipments of semiconductor products. Zygo also increased research and development in the semiconductor segment in response to increased customer interest in specific new technology products. According to J. Bruce Robinson, chairman, president, and CEO, "considering the slowdown in our markets, the company is analyzing actions, in addition to actions already taken, to reduce costs while strengthening our ability to capitalize on new opportunities when the market recovers."
Zygo, headquartered in Middlefield, CT, is a worldwide developer and supplier of high precision optics, optical, and fiber optic assemblies, high performance metrology instruments, and automation for the telecommunications, semiconductor, and industrial markets.
For more information, go to: www.zygo.com.
