JMAR Updates Strategic Priorities to Target Timely Market
Opportunities
SAN DIEGO (Nov. 5) BUSINESS WIRE -Nov. 5, 1997--JMAR Industries Inc.
(NASDAQ NM:JMAR) Wednesday announced that it has reassessed and
reordered its strategic priorities to more efficiently focus its
resources on a broad range of timely market opportunities.
JMAR Chairman and CEO John S. Martinez, Ph.D. made the announcement
during a presentation at the AEA Classic Financial Conference in San
Diego.
Martinez said that management made its assessment based on the
following considerations, which were applied to each of the company's
business areas: estimated time-to-market for emerging products and the
potential size of the specific markets available to those products; the
level of synergy those products have with other product lines; and the
strength of competitive advantage afforded by the uniqueness and
proprietary nature of the products and their underlying technologies.
JMAR assigned top priority to its "core" manufacturing equipment
product lines designed and produced at its PPL division for the rapidly
growing computer disk drive and semiconductor markets.
Martinez said the company's second priority is to continue its
development of advanced lithography light sources, including its
patented PXS X-ray source for the manufacture of new generations of
higher performance semiconductor chips.
That is followed by the ultra-precision manufacturing programs
featuring the Britelight and Microlight systems which utilize JMAR's
new short-pulse laser technology for a range of near-term advanced
manufacturing applications.
The fourth area of emphasis is on JMAR's emerging Light Knife series of
hand-held lasers designed primarily for medical applications such as
needle-less blood sampling, but which the company believes can be
utilized in the dental and ophthalmic markets, as well. JMAR's
specialty microchip manufacturing operation, California ASIC, was
assigned fifth priority.
"During the past year-and-a-half JMAR has made excellent progress, with
limited resources, in advancing its higher priority emerging product
lines closer to commercial application," Martinez noted.
"The abundance of market opportunities we have identified for these
emerging products, and our desire to address them as rapidly as
possible, have convinced us of the need to focus more of our technical
talent, available financing, facilities and equipment on those
priorities.
"Even though the development of Cal ASIC is not one of our highest
priorities, we believe it continues to possess significant future
potential," Martinez continued.
"The operation has developed an excellent microchip design and
engineering capability, has a minifab facility designed for low volume
semiconductor processing, and retains a talented pool of semiconductor
manufacturing and process engineers.
"However, to realize its potential, Cal ASIC will require additional
funding at a level we do not believe is appropriate for JMAR to
provide, given the more timely nature of our higher priority programs."
"With that said, we are currently evaluating other alternatives to
capitalize on our investment in Cal ASIC and help it prosper," Martinez
added.
"These include joint ventures with semiconductor companies and other
organizations that could benefit from Cal ASIC's existing semiconductor
processing and direct write laser capabilities, sale of all or a
portion of our ownership interest in Cal ASIC, or direct investment by
a third party in that operation."
In an earlier release, JMAR announced that it had received a $3 million
settlement from the original sellers of Cal ASIC while retaining its 94
percent ownership. In that release, JMAR also stated it believes that
further investment in process development and equipment would enable
Cal ASIC to become profitable.
JMAR Industries Inc. develops, manufactures and markets precision
measurement, process control and manufacturing systems and laser
products for the microelectronics and medical industries and is a
leading developer of advanced lithography sources for production of
higher performance semiconductors. NOTE: "Safe Harbor" Statement
under the Private Securities Litigation Reform Act of 1995: The
statements regarding future sales and earnings growth and the projects
or processes currently under development are forward-looking statements
that involve risks and uncertainties that could cause actual results to
differ materially from those set forth in the forward-looking
statements, including delays in technology or product developments,
shipment or cancellation of orders, timing of future orders, customer
reorganizations, fluctuations in demand and the other risks detailed
from time-to-time in the company's reports which are filed with the
Securities and Exchange Commission.
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CONTACT: JMAR Industries Inc., San Diego
Dennis E. Valentine
619/535-1706
jmar.com
KEYWORD: CALIFORNIA
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