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MIDDLEFIELD, Conn., May 9, 2013 (GLOBE NEWSWIRE) -- Zygo Corporation (Nasdaq:ZIGO) today announced that it has received multiple orders for advanced metrology systems and optical components in support of 450 mm wafer systems development for OEM semiconductor equipment suppliers. Confidentiality agreements do not permit disclosure of customer information or amounts and specific nature of the products, but the aggregate of these orders has driven the Company's backlog to $88.9 million as of March 31, 2013, – near record levels for Zygo Corporation. These orders will begin to ship during the first part of fiscal 2014.
The orders include advanced large aperture interferometer systems to support 450 mm wafer chuck and stage manufacturing by OEM suppliers, stage position sensing systems and OEM optical components for next generation semiconductor fabrication equipment.
John Stack, President of the Optical Systems Division commented, "Even during the significant downturn in the semiconductor industry, Zygo has been able to capture orders for forward-looking systems and optical components to support 450 mm semiconductor tool development as well as EUV optical components. While these orders are for early phase development, Zygo is well-positioned to benefit from future business as the industry migrates to support the fulfillment of Moore's Law."
Zygo Corporation is a worldwide supplier of optical metrology instruments, precision optics and electro-optical design and manufacturing services serving customers in the semiconductor capital equipment, bio-medical, scientific and industrial markets.
All statements other than statements of historical fact included in this news release regarding financial performance, condition and operations and the business strategy, plans, anticipated revenues, bookings, market acceptance, growth rates, market opportunities and objectives of management of the Company for future operations are forward-looking statements. Forward-looking statements provide management's current expectations or plans for the future operating and financial performance of the Company based upon information currently available and assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan(s)," "strategy," "project," "should" and other words of similar meaning in connection with a discussion of current or future operating or financial performance. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors. Among the important factors that could cause actual events to differ materially from those in the forward-looking statements are fluctuations in capital spending of our customers; fluctuations in revenues to our major customers; manufacturing and supply chain risks; risks of order cancellations, push-outs and de-bookings; dependence on timing and market acceptance of new product development; rapid technological and market change; risks in international operations; risks related to the integration of manufacturing facilities; risks related to any reorganization of our business; risks related to changes in management personnel; dependence on proprietary technology and key personnel; length of the revenue cycle; environmental regulations; investment portfolio returns; fluctuations in our stock price; the risk that anticipated growth opportunities may be smaller than anticipated or may not be realized; and risks related to business acquisitions. Zygo Corporation undertakes no obligation to publicly update or revise forward-looking statements to reflect events or circumstances after the date of this news release except as required by law. Further information on potential factors that could affect Zygo Corporation's business is described in our reports on file with the Securities and Exchange Commission, including our Form 10-K for the fiscal year ended June 30, 2012, filed with the Securities and Exchange Commission on September 13, 2012.
CONTACT: John P. Jordan
Vice President, Chief Financial Officer & Treasurer