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| Axsys Technologies, Inc |
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| Julie Oakes |
| Director of Investor Relations |
| Axsys Technologies, Inc |
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| Email: invest@axsys.com |
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| Axsys Technologies, Inc |
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AXSYS TECHNOLOGIES SIGNS $6.7 MILLION CONTRACT FOR LASER SCANNERS FOR A DIGITAL IMAGING APPLICATION
ROCKY HILL, CT - March 21, 2005 - Axsys Technologies, Inc. (NASDAQ:AXYS) today announced that it signed an exclusive 18-month supply agreement to deliver ultra-pr
ecision air bearing scanners to an unnamed digital imaging customer. The contract is valued at $6.7 million.
Mehrdad Ketabchi, General Manager of Axsys' Imaging Systems business, stated, "We believe that this contract award is a direct result of Axsys' unique engineering and manu
facturing capabilities. The systems we will deliver under this contract will enable our customer to offer digital imaging equipment with industry-leading accuracy and per
formance."
The Company noted that the expected revenues from this agreement are incorporated in the 2005 financial guidance Axsys announced on February 9, 2005
About Axsys
Axsys Technologies, Inc. is a vertically integrated supplier of precision optical solutions for high technology applications, serving the aerospace, defense and high perfo
rmance commercial markets. For more information, visit www.axsys.com.
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. One can identify these forward
-looking statements by the use of the words such as "expect", "anticipate", "plan", "may", "will", "estimate" or other similar expressions. Because such statements apply
to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially. Important factors, which could cause actual result
s to differ materially, are described in Axsys' reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission, including without limitation: the introd
uction of competing products or technologies by other companies and/or pricing pressures from competitors and/or customers, a reversal or slowdown of the modest economic r
ecovery presently being experienced in the United States, Axsys' inability to achieve synergies in connection with any acquisition, the incurrence of unexpected costs in c
onnection with the acquisition and other contingencies and risks relating to the integration of Telic's operations and business.
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