Metrologic Sells Its Education Laser Products Line
Metrologic Instruments, Inc. (NASDAQ-NMS:MTLG), experts in optical image capture and processing solutions, who design, manufacture and market worldwide sophisticated imaging and bar code scanning solutions for a variety of applications announced today it has sold its educational laser products line. Metrologic Instruments was founded 36 years ago as a manufacturer and supplier of laser based equipment to high schools, colleges and universities.
Mark Schmidt, Metrologic’s Senior Vice President, Marketing explained that the Company’s evolving focus on its core business areas necessitated the sale. “Because of the continued migration to, and growth within our traditional POS/OEM, Industrial and Optical business segments, it is no longer possible for Metrologic to profitably support our educational laser product line. Accordingly, we have sold this product line to Industrial Fiber Optics, Inc., a manufacturer of high-quality lasers and complimentary educational equipment located in Tempe, Arizona. We believe Industrial Fiber Optics’ focus and commitment to the educational market will ensure an improved level of customer service and product line enhancements for these customers in the future.”
Metrologic, a pioneer in the development of helium-neon lasers, optics and electronic instruments for education, was founded in 1968 by C. Harry Knowles. In 1969 Metrologic produced the world’s first helium-neon laser kit, and by 1971, Metrologic was the world’s largest volume manufacturer of helium-neon lasers. Metrologic’s decision to sell this product line is part of its overall growth strategy for its core business segments and will not have a material effect on the Company’s financial statements or previously issued guidance.
Randy Dahl, President of Industrial Fiber Optics said, “We are looking forward to continuing the production and service of Metrologic’s laser education product line. We expect no problems in getting up to speed quickly on this product line to continue service to all customers. We also feel privileged to be part of this product line because it was part of the early technical education of many of today’s leading scientists and engineers.”
About Metrologic
Metrologic designs, manufactures and markets bar code scanning and high-speed automated data capture systems solutions using laser, holographic and vision-based technologies. Metrologic offers expertise in 1D and 2D bar code reading, portable data collection, optical character recognition, image lift, and parcel dimensioning and singulation detection for customers in retail, commercial, manufacturing, transportation and logistics, and postal and parcel delivery industries. In addition to its extensive line of bar code scanning and vision system equipment, the company also provides laser beam delivery and control systems, as well as a variety of highly sophisticated optical systems used by the commercial, government, and scientific communities. Metrologic products are sold in more than 110 countries worldwide through Metrologic’s sales, service and distribution offices located in North and South America, Europe and Asia. For more information please call 1-800-ID-METRO or visit www.metrologic.com.
Forward-Looking Statement
Forward-looking statements contained in this release are highly dependent upon a variety of important factors which would cause actual results to differ materially from those reflected in such forward looking statements. When used in this release and documents referenced, the words “believes”, “expects”, “may”, “should”, “seeks”, or “anticipates”, and similar expressions as they relate to Metrologic or its management are intended to identify such forward-looking statements. For additional factors, please see Metrologic’s reports filed with the Securities and Exchange Commission.