MIDDLEFIELD, Conn. and ALBANY, N.Y., Oct 24, 2011 (GlobeNewswire via COMTEX) --

Zygo Corporation (Nasdaq:ZIGO), a worldwide supplier of optical metrology instruments and high precision optical systems, today announced that its Optical Systems Division has been awarded a contract valued in excess of $9 million with the College of Nanoscale Science and Engineering (CNSE) of the University at Albany and the SEMATECH consortium of chipmakers to develop extreme ultraviolet (EUV) lithography optics to be incorporated into the next, fifth generation Micro-Exposure Tool (MET-5) at CNSE's Albany NanoTech Complex. The MET-5 program is being managed by the SEMATECH consortium whose members and partners include leading semiconductor manufacturing companies worldwide.

With core strengths in nanometer precision manufacturing, system performance analysis and the extreme precision metrology required for measurement of aspheric mirrors, Zygo is proud to be one of only a few companies in the world capable of producing sub-nanometer surface quality optics and is looking forward to participating in this highly prestigious and ground-breaking program.

The MET-5 program is intended to aid researchers in extending semiconductor lithography resolution capability to less than 16 nanometers. This is in support of EUV resist and EUV mask developments intended to meet the international technology roadmap for semiconductors and associated decreasing linewidths. Advanced development and production is expected to take place over a 22-month period and will be carried out by Zygo's Extreme Precision Optics operation in Richmond, California.

Dr. Chris Koliopoulos, Zygo Corporation President and CEO, commenting on the contract, stated, "Development of the next generation Micro-Exposure Tool represents an important milestone for Zygo and further solidifies Zygo's position as a key supplier of EUV components. We are also very pleased to be working closely with CNSE, SEMATECH and its members to push the boundaries of photolithography technology to new, extreme levels."

Marc Tricard, Executive Director of Business Development at Zygo, added, "Zygo feels privileged to be partnering with organizations like CNSE and SEMATECH, continuing Zygo's 20 years experience in manufacturing EUV optics. This is an exciting and challenging opportunity to leverage our leading edge optics manufacturing and metrology capabilities to extend semiconductor lithography nodes well into the next decade."

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.

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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" and other words of similar meaning in connection with a discussion of 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 supplier 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 the reorganization of our business; 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 expected or may not be realized; risks related to business acquisitions, including the acquisition of substantially all the assets of ASML US, Inc.'s Richmond, California facility, and integration of the business and employees; the risks related to the Company's recent changes to senior management; and the risks associated with the recovery from the recent earthquake, tsunami and nuclear disaster in Japan and its impact on our customers, suppliers, and operations. 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, 2011, filed with the Securities and Exchange Commission on September 13, 2011.

This news release was distributed by GlobeNewswire, www.globenewswire.

SOURCE: Zygo Corporation 



CONTACT: John P. JordanVice President and Chief Financial OfficerVoice:  860-347-8506inquire@zygo.