OCLI merges with OCA
Optical Coating Laboratory Inc. (OCLI, Santa Rosa, CA) has entered into a merger agreement with Optical Corp. of America (OCA, Marlborough, MA) whereby OCLI will acquire 100% of the outstanding stock of OCA in exchange for approximately 1.9 million new shares of OCLI common stock. After the merger, described as a Opooling of interests,O OCLI will operate OCA as a wholly owned subsidiary. OCA produces electro-optical components and subsystems; in the most recent fiscal year, ended March 31, 1996, the privately held company reported unaudited revenues of $28.5 million and a net income of $512,000. For FY1995, OCLI reported net income of $6.9 million on revenues of $169.4 million.
