TRADES AROUND 4 3/8 NASDAQ:
(COMTEX) B: Hathaway Receives $1.89 Million Contract for Optical Enco
B: Hathaway Receives $1.89 Million Contract for Optical Encoders From
Telecommunications Industry
DENVER, Nov 20, 2000 (BUSINESS WIRE) -- Hathaway Corporation (Nasdaq:HATH)
today announced that Hathaway's Computer Optical Products subsidiary in
Chatsworth, California, a division of Hathaway's Motion Control segment, has
received an add-on order valued at $1,891,000 to supply high-precision,
high-resolution optical encoders to a leading manufacturer of test
instrumentation for the fiberoptic telecommunications industry.
The encoders are key components for rotators used in optical spectrum analyzers.
These instruments are extensively used by the telecommunications industry to
measure fiberoptic network performance, as well as in research to improve
throughput and bandwidth of fiber optical transmission systems. The order is to
be delivered during calendar year 2001.
"This order is double the size of the order received early in calendar year 2000
from the same manufacturer," commented Dick Smith, President and CEO. "The
delivery rate of these components has been accelerating monthly throughout
calendar 2000, and this new order contemplates the delivery rate to continue
increasing throughout calendar 2001. We are quite pleased with our increasing
participation in the fiberoptic telecommunications industry. The Company is well
prepared to increase its production capacity to successfully fulfill this order
and continue to establish our Motion Control segment as a reliable supplier of
quality components for the fiberoptic telecommunications industry."
Headquartered in Denver, Colorado, Hathaway designs, manufactures and sells
advanced systems and instrumentation to the worldwide power and process
industries, as well as motion control products to a broad spectrum of customers
throughout the world. With subsidiaries in the United States and United Kingdom
and joint venture investments in China, Hathaway is a leading supplier of
systems automation and integration solutions to the world power industry and a
leader in process calibration technology and motion control products.
The statements in this press release that relate to future plans, events or
performance are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements involve
known and unknown risks and uncertainties, including international, national and
local general business and economic conditions in the Company's motion control,
process and power utilities markets, introduction of new technologies, products
and competitors, the ability of the Company to sustain, manage or forecast its
growth and product acceptance, increased competition and changes in competitor
responses to the Company's products and services, continued success of the
Company's customers to support the Company's expected delivery schedules,
changes in government regulations and the ability to attract and retain
qualified personnel. Actual results, events and performance may differ
materially. Readers are cautioned not to place undue reliance on these
forward-looking statements as a prediction of actual results. The Company has no
obligation or intent to release publicly any revisions to any forward-looking
statements, whether as a result of new information, future events, or otherwise.
CONTACT: Hathaway Corporation, Littleton
Richard Smith, 303/799-8200
Fax: 303/799-8880
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KEYWORD: COLORADO CALIFORNIA
INDUSTRY KEYWORD: TELECOMMUNICATIONS
MANUFACTURING
NETWORKING
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