MIDDLEFIELD, Conn., March 4, 2013 (GLOBE NEWSWIRE) -- Zygo Corporation (Nasdaq:ZIGO), a worldwide supplier of optical metrology instruments and high precision optical systems, today announced that its Optical Systems Division was awarded a substantial order to manufacture a series of very high precision optics for the European Advanced Virgo project. Advanced Virgo is an upgrade of the Virgo detector located near Pisa, Italy, to a second generation instrument with an order of magnitude improvement in sensitivity to explore a volume of universe 1,000 times larger than Virgo. The ultimate goal of this high-end scientific instrument is the detection of gravitational waves originating from cosmic sources as predicted by Albert Einstein. "Zygo is very proud to have been chosen as the key optics supplier for this state-of-the-art instrument," said Dr. Frank Nowak, Optical Products Manager for ZygoLOT GmbH Germany. "We have a long tradition in manufacturing large optics with sub-nanometer specifications for gravitational wave detection that utilizes similar manufacturing technology offered to our semiconductor lithography customers." In addition, Dr. Raffaelle Flaminio, director of the Laboratoire des Matériaux Avancés (LMA) and responsible for the procurement of Virgo optics, commented, "After a comprehensive evaluation of many potential suppliers worldwide, the LMA has selected Zygo as the key, and only, supplier of optics for our Advanced Virgo program in light of Zygo's outstanding track record in manufacturing these types of high-end optics and their associated expertise in metrology at the sub-nanometer level. We look forward to interacting with their world class team throughout the duration of this program." The Virgo optics will be manufactured in Zygo's Precision Optics and Extreme Precision Optics groups in Middlefield, CT and Richmond, CA. The LMA is a USR (Unité de Service et de Recherche n°3264) from the French Centre National de la Recherche Scientifique (CNRS, France). The laboratory is specialized in the study, the realization (several deposition systems) and the characterization (optical and mechanical means) of thin films realized by several vacuum deposition processes (CVD, PVD). The LMA is particularly involved in the Franco-Italian program VIRGO (VIRGO mirrors realized by the LMA) and in the American program Advanced LIGO.
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.The Zygo Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10822 Forward-Looking Statements 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 booking 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 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.
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