Despite a lousy day overall SVGI managed a 1/2 point gain!
News below suggests business is booming!
Monday May 22, 2:07 pm Eastern Time
Company Press Release
Newport Receives $5 Million Order for High Performance Precision Optics from SVG Lithography Systems
IRVINE, Calif.--(BUSINESS WIRE)--May 22, 2000--Newport Corporation (Nasdaq:NEWP - news) today announced that it has received a $5 million order from Silicon Valley Group (Nasdaq:SVGI - news) for high performance precision optics.
The Newport optical components are to be used by Silicon Valley Group Lithography Systems in the manufacture of their industry leading Micrascan step-and-scan microlithography systems. The optics will be delivered to SVG over the next 12 months.
``As the semiconductor industry looks to create microchips with decreasing feature sizes, there is a need for microlithographic systems capable of submicron operation,'' said Robert G. Deuster, Chairman and Chief Executive Officer of Newport. ``We are very pleased to offer customers like SVG specialized precision optical products and systems that will be incorporated in their microlithographic equipment.
``Newport's acquisition of the West Coast commercial optics operations of Corning OCA broadened our expertise to include advanced thin film coating technologies and specialized precision optics capabilities,'' said Deuster said.
``We are combining these new competencies with our experience in precision machining, opto-mechanical components, vibration and motion control to develop products for front-end lithography applications in the semiconductor equipment market.''
John J. Shamaly, president of SVG Lithography Systems, said: ``We are pleased to count Newport among those companies that play critical supply chain roles in our Micrascan manufacturing process. By subcontracting the production of certain components and assemblies, SVG continues to increase its capacity to produce more systems in less time to better serve our customers.
``With the rapid growth occurring in the demand for our products, we look forward to expanding our mutually beneficial relationship with Newport,'' he said.
Silicon Valley Group (Nasdaq:SVGI - news) is a leading manufacturer of automated wafer processing equipment for the worldwide semiconductor industry. The company designs, manufactures and markets technically sophisticated equipment used in the primary stages of semiconductor manufacturing.
Its products include photolithography exposure tools; photoresist processing equipment; oxidation, diffusion and low-pressure chemical vapor deposition processing systems; atmospheric pressure chemical vapor deposition systems; and precision optical components and systems. For more information, visit svg.com.
Newport Corporation is a leader in the design, manufacture and marketing of high-precision components, instruments and integrated systems to the fiber optic communications, semiconductor equipment, computer peripherals and scientific research markets. The company's innovative products are designed to enhance productivity and capabilities of test and measurement, and automated assembly for precision manufacturing, engineering and research applications.
Customers include Fortune 500 corporations, technology companies and research laboratories in commercial, academic and government sectors worldwide.
The statements contained in this news release are forward-looking statements that involve a number of risks and uncertainties. In addition to factors discussed above, other factors that could cause actual results to differ materially are the following: business and economic conditions and growth in the semiconductor industry in various geographic regions; changes in customer order patterns; acceptance of the company's new products by its customers; litigation involving intellectual property and other issues; and other risk factors listed from time to time in the company's SEC reports. Although Newport believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Newport or any other person that Newport's objectives or plans will be achieved. Newport undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Forward-looking Statement Disclaimer for SVG: The matters discussed in this news release, and in particular statements made by the President of SVG Lithography Systems, include forward-looking statements that involve risks and uncertainties including but not limited to difficulties encountered or the benefits derived from customers using the new cross performance Platform. For a complete review of the risks facing the Company, including economic conditions, industry conditions, trade environment and other risks, reference is made to the Company's filings with the Securities and Exchange Commission. Particular reference is made to the Company's most recent Forms 10-K and 10-Q, which detail such risk factors.
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Contact:
For Newport Corporation, Irvine
Robert C. Hewitt, 949/253-1405
investor@newport.com
www.newport.com
or
Pondel/Wilkinson Group
Cecilia A. Wilkinson, 310/207-9300
investor@pondel.com
or
For Silicon Valley Group Inc.
Werner Rust, 408/467-5949
Fax: 408/467-5867
rustw@svg.com
Nancy Szymanski, 408/467-5870
Fax: 408/467-5955
szymansn@svg.com |
