New Focus Settles Patent Infringement Lawsuit
Tuesday January 7, 7:02 am ET
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 7, 2003--New Focus, Inc., (Nasdaq:NUFO - News), a leading provider of photonics and microwave solutions, today announced that it has settled the pending patent infringement lawsuit related to the design of tunable lasers filed against the company by Photonetics, Inc. and Photonetics, S.A. in July 2001. In response to this lawsuit, New Focus filed counterclaims against Photonetics, Inc. and Photonetics, S.A. in September 2001 that charged Photonetics with the infringement of two U.S. patents related to New Focus' proprietary external cavity laser technology. Under the terms of the settlement New Focus has obtained a license to two patents held by Photonetics and Photonetics has obtained a license to two patents held by New Focus. Further details on the settlement are not available at this time due to the confidentiality terms of the agreement.
"We are pleased with this settlement for several reasons. First, the settlement eliminates the substantial legal expenses that the company would incur in preparation for the trial that was scheduled to begin in August 2003. Second, the terms of the settlement will not have a material adverse effect on our current or future financial results. Third, the settlement will allow management to focus its attention on the execution of the company's new strategic direction. As part of this strategic direction, New Focus will continue to apply its tunable laser technology for measurement and sensing applications in multiple markets," said Dr. Timothy Day, chief technology officer and co-founder of New Focus, Inc.
New Focus introduced its first external cavity tunable laser for spectroscopic test and measurement applications in 1992. Since that time New Focus has developed a family of lasers that offer continuous or discrete tuning for use in applications ranging from metrology, spectroscopy, analytical chemistry, medical diagnostics and telecommunications.
About New Focus:
New Focus develops and manufactures innovative photonics and microwave solutions for the telecommunications, semiconductor, industrial, and defense markets. New Focus' product portfolio includes tunable lasers for test and measurement applications, advanced photonics tools, radio frequency (RF) amplifiers and high speed opto-electronic devices. Founded in 1990, the company remains a leader in the development of advanced optical products for the commercial and research marketplaces. The company is headquartered in San Jose, California.
For more information about New Focus visit the company's Internet home page at newfocus.com, call our Investors Relations Department at 408-919-2736, or e-mail us at investor@newfocus.com. |
