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Technology Stocks : JMAR Technologies(JMAR) -- Ignore unavailable to you. Want to Upgrade?

To: Bilberry who wrote (3839)	11/5/1997 2:03:00 PM
From: Candle stick	Read Replies (1) \| Respond to of 9695

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. -0- MEM/la* EW/la CONTACT: JMAR Industries Inc., San Diego Dennis E. Valentine 619/535-1706 jmar.com KEYWORD: CALIFORNIA INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS MEDICINE Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com