One thought: These kinds of suits take years & years to resolve - often longer than the lifespan of the lawyers involved. Most settle before trial (maybe on some attorney's deathbed). In the meantime, life goes on.....
Stratos Lightwave Responds to Agilent Lawsuit,
Reaffirms Anticipated Growth
stratoslightwave.com
Contact
Mike Perkins, Investor Relations
David Slack, Chief Financial Officer
Stratos Lightwave, Inc. 708-867-9600
FOR IMMEDIATE RELEASE
November 13, 2000 --Stratos Lightwave, Inc. (NASDAQ: STLW) announced that it is in the process of
reviewing and investigating the claims made by Agilent Technologies, Inc., in its recently filed lawsuit
in which Agilent alleges that Stratos is infringing four Agilent patents relating to optical technology,
and will respond in an appropriate manner.
"Stratos respects valid and enforceable patents. However, where such patents are not valid and
enforceable, or Stratos does not infringe these patents, Stratos will defend itself vigorously," said Jim
McGinley, President and CEO of Stratos Lightwave. "We believe that the Agilent lawsuit is in
response to a recently filed lawsuit by Stratos against Agilent and Hewlett-Packard following the U.S.
Patent and Trademark Office reissuance of two Stratos patents, and the lawsuits by Stratos and
Methode against Agilent and HP pending since 1999, alleging infringement of five Stratos patents
against Agilent and HP. Stratos is just beginning to investigate and is taking this matter seriously."
On August 15, 2000, the U.S. Patent and Trademark Office reissued Stratos Lightwave's Patent for a
Removable Optoelectronic Module (U.S. Patent Number Re. 36,820). The U.S. Patent Office has now
examined this patent twice, having issued the original patent in 1996. The second examination of this
patent included the review of more than 300 prior art references. The second patent was reissued in
January 2000 for Stratos' Patent for Optoelectronic Transceiver Module Laser Diode Stabilizer and
Bias Control Method (U.S. Patent Number Re. 36,491).
Stratos is a plaintiff in three lawsuits pending against Agilent Technologies, Finisar Corporation,
Hewlett-Packard Company, Infineon Technologies AG, and Optical Communications Products, Inc.
involving patents related to optoelectronic transceiver modules. Six companies including Tyco
Electronics, IBM Corporation, Cielo Communications, Inc., Fujikura Ltd., Molex Incorporated and Vixel
Corporation have now licensed these patents.
In other matters, Stratos expects to release its second quarter results on November 29, 2000, after
the market closes. In the last conference call on September 6, 2000, Stratos indicated that it believes
sales would increase 20% sequentially for the 2nd quarter ending October 31, 2000, and 90 to 100%
for all of fiscal 2001, and that net income would be in the range of 10 to 12% for the full fiscal year.
"The company remains comfortable with this information," said Dave Slack, Stratos' CFO. "Our order
backlog remains strong and our capacity expansion plans are proceeding ahead of schedule. Based
on our incoming orders and expanded manufacturing capacity, Stratos is poised to experience
continued growth."
ABOUT STRATOS LIGHTWAVE
Stratos Lightwave, Inc. develops, manufactures and sells optical subsystems and components for high
data rate networking, data storage, and telecommunications applications. These optical subsystems
are used in local area networks (LANs), storage area networks (SANs), metropolitan area networks
(MANs), wide area networks (WANs), and central office networking in the telecommunications market.
The company also designs, manufactures, and sells a full line of optical components and cable
assemblies for use in these networks. Stratos Lightwave, Inc. is a subsidiary of Methode Electronics,
Inc. (NASDAQ: METHA). Stratos Lightwave was recently named to Deloitte & Touche's prestigious
"Fast 50" Program for Greater Chicagoland. This is a ranking of the 50 fastest growing technology
companies in the area, based on five-year revenue growth from fiscal year 1995 through fiscal year
2000.
This news release contains predictions, estimates and other forward-looking statements regarding
anticipated capital spending, customer demand and revenue growth. These statements are subject to
risks and uncertainties and actual results may differ materially from any future performance
suggested. These risks and uncertainties include the company's ability to successfully ramp its
manufacturing capacity, which in turn depends on the company's ability to timely build-out and equip
its new manufacturing space and rapidly hire and train additional employees. Other risks that may
affect the company's performance are listed in the company's S-1 registration statement for its initial
public offering on file with the Securities and Exchange Commission. |
