Also in the news . . .
Galileo (Sturbridge, MA) signed a definitive agreement to acquire OFC (Natick, MA) for approximately $6 million in cash and 1.15 million shares of Galileo common stock. . . . Coastal Optical Systems (West Palm Beach, FL) has completed purchase of a 19,100-sq ft building that will allow it to continue its expansion by increasing manufacturing capacity and adding dedicated assembly laboratories. . . . The photonics components division of Melles Griot (Irvine, CA) has relocated to a 60,000-sq ft facility that doubles its previous size. . . . To measure submicron lithographic structures, Nanometics (Sunnyvale, CA) has licensed a semiconductor metrology technology from Optical Specialties (Fremont, CA). . . . Precision Optics (Gardner, MA) saw revenues decrease 50% in its second quarter, due to lower medical and night-vision sales and more R&D on new products. . . . Newport (Irvine, CA) reported record sales and earnings for its fourth quarter, while for the year, net sales rose 11% and net income rose 50%.
W. Conard Holton