Company Press Release
Wednesday December 15, 11:22 am Eastern Time
SOURCE: Precision Optics Corporation, Inc.
Precision Optics Corporation Announces Acceptance of 200-GHz DWDM Filters by Major Customer
GARDNER, Mass., Dec. 15 /PRNewswire/ -- Precision Optics Corporation, Inc. (Nasdaq: POCI - news) announced today that it's 200-GHz filters for use in Dense Wavelength Division Multiplexing (DWDM) applications by the telecommunications industry have passed all qualification and test criteria of a major customer. Production and shipments of 200-GHz filters to this customer will be ramping up over the next several months.
Earlier this year, the Company announced that it had received orders totaling over $1.9 million for DWDM filters from several customers. By June 30th, filter sales in fulfillment of these orders amounted to approximately $300,000 leaving an open order of approximately $1.6 million. Production of these remaining filters has been on hold while the Company has been working together with the customer to refine the specifications to satisfy the customer's latest requirements. The Company has now been notified that it has satisfied all current technical requirements of this customer.
The level of future shipments under these orders will depend, to a large extent, upon the reliability of production rates and yields during start-up phases and into mature production. Shipments are expected to resume this month.
The Company has also received several smaller orders for 200-GHz filters from other customers and is working closely with a number of other potential customers to evaluate and refine filter prototypes.
Forward-looking statements contained in this news release are made under ``safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties that could materially affect future results. Among these risk factors are research and developmental uncertainties, general economic and business conditions and growth in the optical communications and medical product markets, the impact of competitive products and pricing, availability of third-party components, cost and yields associated with production of the Company's optical communications and other products and the other risk factors and cautionary statements listed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission, including but not limited to, the Company's Annual Report on Form 10-KSB for the year ended June 30, 1999.
Precision Optics Corporation designs, develops, manufactures and markets specialized optical systems and components, and optical thin film coatings. Its products and services as an original equipment manufacturer include a line of laparoscopes as well as other medical instruments, industrial optical systems, lens systems for night-vision equipment, and advanced optical systems design and development.
SOURCE: Precision Optics Corporation, Inc. |
