wake up call...this just out..trading around 2 1/4...
(COMTEX) B: Schmitt Industries Announces Sales of New Technology to D
B: Schmitt Industries Announces Sales of New Technology to Disk Drive Markets
PORTLAND, Ore., Jan 11, 2000 (BUSINESS WIRE) -- Schmitt Industries
laser measurement subsidiary, Schmitt Measurement Systems, Inc.
(Nasdaq:SMIT), is pleased to announce its latest product development
for the disk drive industry.
The "TMS-2000-DUV" technology uses a deep ultra-violet light to measure
the surface roughness of glass substrates. The next generation of disk
drives will be made with glass disks and disk drive manufacturers are
demanding a cost-effective method to measure the surface
micro-roughness of those products so as to assure maximum quality and
minimal defects. At the request of Seagate Technologies, Inc., the
world's largest manufacturer of disk drives, Schmitt has developed the
technology to measure the surface roughness of glass disk substrates to
levels of one angstrom. Once again, Schmitt is leading the market by
providing the only cost effective system to test the surface roughness
of glass disk substrates for hard drives.
Wayne A. Case CEO of Schmitt stated, "When Seagate originally
approached us regarding measurement of glass substrates, it was a
challenge we eagerly accepted. Existing lasers passed through the
surface, producing no light scatter to be measured. The challenge was
to find a light source that would produce the light scatter necessary
for measurement. Our engineers created special optics utilizing deep
ultraviolet light so our light scatter technology could measure glass.
The samples provided by Seagate were tested and results matched their
expectations. As a result of those tests, they have recently issued a
purchase order for the first Beta unit to measure the roughness of
glass substrates. The future of disk drive manufacturing will be with
glass disks. This places us in a position of providing the technology
the industry demands.
"It is important to remember that even though the use of glass for
manufacturing disks for hard drives will grow significantly, aluminum
based disks will continue to be a significant part of that market. Our
recent sales activity demonstrates this fact. In the month of January
we will be shipping two TMS-2000-RC units for use in measuring aluminum
disks and we are currently quoting and negotiating with customers for
additional units. The average unit sales prices for these products is
$75,000, and therefore achieving our revenue goals for the year
requires a small number of unit sales in the next five months. In
addition, we have entered into a sales representation agreement with
ULVAC Japan Ltd., a multi-million dollar distributor in Japan. That
organization has received a great deal of interest in our products,
demonstrating not only the continued viability of our technology but
improvement in the Japanese economy."
The information contained in this release contains certain
forward-looking statements that anticipate future trends or events.
These statements are based on certain assumptions that may prove to be
erroneous and are subject to certain risks including but not limited to
the uncertainties of the Company's new product introductions, the risks
of increased competition and technological change in the Company's
industry and other factors detailed in the Company's SEC filings.
Accordingly, actual results may differ, possible materially, from the
predictions contained herein.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Schmitt Industries
Linda M. Case, 503/227-7908
WEB PAGE: businesswire.com
GEOGRAPHY: OREGON INTERNATIONAL ASIA PACIFIC
INDUSTRY CODE: COMPUTERS/ELECTRONICS
GOVERNMENT
HARDWARE
MANUFACTURING
PRODUCT
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