SPI Lasers announces new contract wins

Optical fiber-based laser specialist SPI Laser has reported four significant contract wins from both new and existing customers for delivery in 2008.

The contracts are estimated to generate revenues in excess of $6 million in 2008 with the potential for an additional $3 million through framework agreements.

Three of these contracts are in the marking sector and one is in the medical vertical, both key established applications for SPI's products. The company has also signed a framework agreement for a futher $1.5 million for its new micro products.

Elsewhere, SPI has entered into a new vertical sector in the form of solar energy, where, to date, the company has won five new customers that produce machines for the manufacture of solar cells.

Chief executive David Parker, comments, "I am encouraged by the recent progress of the company, as we have focused on sustainable growth, winning strategic accounts for 2008 and working towards profitability. Our continuing cost reduction efforts are progressing well, and we are delighted to have entered into the solar market, where we have identified the potential for significant growth."

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