BILLERICA, Mass., June 22, 2006 (PRIMEZONE) -- GSI Group Inc. (Nasdaq:GSIG) announced a multiple system purchase order in excess of $7 Million for Wafer Trim systems used in the production of mixed signal analog chips for the electronics and automotive industries. To date GSI has announced orders for shipments of Wafer Trim systems totaling over $18 million in 2006. Deliveries for this latest order are scheduled to be throughout the year.
According to Nino Federico, V.P. and General Manager for the Company's Laser Systems Group, "We are pleased to receive another order for our new M350 Wafer Trim System which was launched earlier this year. Specifically designed for higher throughput, pin-count and accuracy, this next generation technology is being quickly accepted into high volume production."
About GSI Group Inc.
GSI Group Inc. supplies precision motion control components, lasers and laser-based advanced manufacturing systems to the global medical, semiconductor, electronics, and industrial markets. GSI Group Inc.'s common shares are listed on Nasdaq. For more information on GSI Group, please visit www.gsig.com.
Certain statements in this news release may constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934. These forward-looking statements may relate to anticipated financial performance, management's plans and objectives for future operations, business prospects, outcome of regulatory proceedings, market conditions, tax issues and other matters. All statements contained in this news release that do not relate to matters of historical fact should be considered forward-looking statements, and are generally identified by words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "objective" and other similar expressions. Readers should not place undue reliance on the forward-looking statements contained in this news release. Such statements are based on management's beliefs and assumptions and on information currently available to management and are subject to risks, uncertainties and changes in condition, significance, value and effect. Other risks include the fact that the Company's sales have been and are expected to continue to be dependent upon customer capital equipment expenditures, which are, in turn, affected by business cycles in the markets served by those customers. Other factors include volatility in the semiconductor industry, the risk of order delays and cancellations, the risk of delays by customers in introducing their new products and market acceptance of products incorporating subsystems supplied by the Company, similar risks to the Company of delays in its new products, our ability to continue to reduce costs and capital expenditures, our ability to focus R&D investment and integrate acquisitions, changes in applicable accounting standards, tax regulations or other external regulatory rules and standards, and other risks detailed in reports and documents filed by the Company with the United States Securities and Exchange Commission and with securities regulatory authorities in Canada. Such risks, uncertainties and changes in condition, significance, value and effect, many of which are beyond the Company's control, could cause the Company's actual results and other future events to differ materially from those anticipated. The Company does not, however, assume any obligation to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking statements.