Teledyne Technologies Announces Initial
$1.8 Million Order from Corning Lasertron
LOS ANGELES - August 3, 2000 - Teledyne Technologies Incorporated (NYSE:TDY) announced today that its newly formed Teledyne OptoElectronics unit has received an initial $1.8 million order from Corning Lasertron for the contract manufacture of fiber optic transmission laser modules to be sold to Corning Lasertron's customers.
The laser modules have passed the preliminary stages of qualification to Bellcore specifications and production is expected to begin this quarter, after the qualification process is completed. The contract requires delivery before the end of 2000.
"This initial order supports our goal of using our experience in manufacturing sophisticated fiber optic transmitter and receiver modules for aerospace applications to support the high-volume production requirements of commercial telecommunication customers," said Robert Mehrabian, president and chief executive officer of Teledyne Technologies.
Teledyne OptoElectronics, located in Los Angeles, California, has been formed to provide high volume leading edge optoelectronic packaging solutions for high data rate, broadband communication applications.
Teledyne Technologies is a leading provider of sophisticated electronics and communications products, systems engineering solutions, and aerospace products and components, with operations in the United States, the United Kingdom and Mexico.
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from these forward-looking statements. Many factors, including customers' acceptance of fiber optic products and economic conditions, could change outcomes and results. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Teledyne Technologies' periodic filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K and its most recent Quarterly Report on Form 10-Q.