SANTA FE, N.M., Feb. 22, 2012 /PRNewswire/ -- Sigma Labs, Inc. (OTCBB: SGLB.OB) announced today that it has been awarded contracts from Honeywell Aerospace (NYSE: HON) and Sigma Labs expects to generate $308,000 in revenue in 2012, with significant built-in growth opportunities. Vivek Dave, Vice President of Sigma Labs, stated, "These contracts embody different but equally important technologies. The first is an effort to integrate our next-generation manufacturing quality control technology for aeroengine compressors. The other is to develop the capacity to internally inspect computer generated parts in the rapidly growing field of Additive Manufacturing, which uses computers and lasers to directly print out 3D parts from computer files. Developing the capacity to internally inspect computer generated parts is an important component in the overall Additive Manufacturing process."
Sigma Labs has also achieved an important technical milestone in getting its IPQA – In Process Quality Assurance – technology approved for production on a new Boeing (NYSE: BA) manufacturing process that we believe will change the way aircraft structures are built. Mark Cola, President of Sigma Labs, noted, "Getting written into a production specification is a major breakthrough for us. Now that our IPQA technology is part of an approved production process for Boeing and can be used in lieu of traditional ultrasonic inspection, we plan to work with Boeing suppliers to implement our unique inspection method for this new production process. Furthermore we believe it will become an important part of producing Boeing commercial aircraft structures."
About Sigma Labs, Inc.
Sigma Labs, Inc. comprises three wholly-owned subsidiaries: B6 Sigma, Inc.; Sumner Associates, Inc.; La Mancha Company; and leading scientists and engineers from Los Alamos National Laboratory. They provide high-level consultants, and develop manufacturing and materials technologies and R&D solutions for first-tier integrators like Boeing, Honeywell, Pratt & Whitney, and other commercial firms around the globe. Sigma Labs, Inc. has current contracts with Federal Government and private industry clients to provide high-level consultants, and develop technologies from their conception through the design, building, and testing of prototype systems by integrating sensing, software, materials and manufacturing technology risk-reduction solutions. Visit Sigma Labs at www.sigmalabsinc.com.Forward-Looking Statements This news release contains forward-looking statements that reflect Management's current views about future events and financial performance. Forward-looking statements often contain words such as "expects," "anticipates," "intends," "believes" or "will." Our forward-looking statements are subject to a number of risks and uncertainties that may cause actual results and events to differ materially from those projected in the forward-looking statements. Risks and uncertainties that could adversely affect us include, without limitation, the loss of major customers, our failure to obtain new contracts, our inability to patent products or processes, our infringement of patents held by others, our inability to finance our business and the other risks and uncertainties that are discussed in our most recent filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our Report on Form 8-K that was filed in connection with the transaction we recently completed with B6 Sigma. The forward-looking statements in this news release are made only as of the date of this news release. We undertake no obligation to update our forward-looking statements, whether as a result of new information, future events or otherwise.