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Technology Stocks : Newport Corp.NEWP...lasers..semi..mfg...equipment.. -- Ignore unavailable to you. Want to Upgrade?

To: Duane L. Olson who wrote (96)	2/18/2000 8:27:00 AM
From: D.Austin	Read Replies (1) \| Respond to of 174

I do not make a habit of recommending much but this one looks interesting..........LPWR. Laser Power Completes Sale of Contract Research Operation SAN DIEGO--(BUSINESS WIRE)--Feb. 17, 2000--Laser Power Corp. (Nasdaq:LPWR) today reported that it had completed the sale of the assets of its contract research operation, which developed projection display and 1550nm microlaser technologies, to Photera Technologies Inc., a newly-formed subsidiary of Schwartz Electro-Optics Inc. Separately, Laser Power also announced the receipt of the remaining initial cash payment for the sale of its microlaser unit. Commented Dick Sharman, Laser Power Corp.'s chief executive officer, "With the sale of the contract research operation, the restructuring which we announced last quarter is complete. We are now a profitable optics company with a strong balance sheet and a focus on our core competencies of optical design and fabrication and state-of-the-art thin film coatings. By focusing on what we know and do best, we believe that we are better positioned to achieve our primary objective of increasing stockholder value." Founded in 1979, Laser Power Corp. designs, manufactures and markets high performance optics for industrial, medical and military applications. The company's laser optics products are sold to laser system OEMs and end users as original and replacement components in high power CO2 and other lasers. The company's infrared optics products consist of a variety of infrared windows, missile domes and other optical elements primarily for military applications. This news release contains forward-looking statements that involve risks and uncertainties. The actual future results of Laser Power may differ materially from these statements due to a number of factors, including but not limited to risks and uncertainties relating to the company's government contract business and exposure to government markets, the consolidation of the company's businesses and operations, changes in management, fluctuations in the company's future performance, competition and general economic conditions in the company's markets. These and other factors are more fully addressed in Laser Power's most recent quarterly reports on Form 10-Q and annual report on Form 10-K. CONTACT: Laser Power Corp. Paul P. Wickman, 858/755-0700 laserpower.com