QPC Lasers Ships Initial Units for
Laser TV Contract;
Fulfills Initial $1 Million of Development Phase
Leader in high power semiconductor laser technology delivers miniature
high brightness lasers for next generation Laser TV
SYLMAR, CA – March 12, 2008 – QPC Lasers, Inc. (OTCBB:QPCI) “QPC,” a world leader in the design and manufacture of high brightness, high power semiconductor lasers for the consumer electronics, industrial, defense, and medical markets, announced that the company has delivered initial semiconductor lasers in connection with its recently announced Laser TV contract, fulfilling the first $1 Million of the development phase of the contract. The contract provides for an exclusive supply relationship that carries a potential value of up to $230 million over the 10 year term of the contract.
“Through QPC’s innovative high brightness chip based technology, we are enabling a new generation of Laser TV with our compact, low cost and high efficiency lasers,” said QPC co-founder and CEO Dr. Jeffrey Ungar. “We are excited to deliver the initial modules in connection with our recently announced $12 Million Laser TV contract, and we believe our proprietary BrightLase® technology will provide us with unprecedented advantages in the multi-billion dollar high growth consumer electronics sector, including miniature mobile projectors for mobile phones, PDAs, and laptops, along with displays for automobiles and cockpits.” Ungar concluded.
“Pursuant to the contract, we recognized $1 million of initial milestone revenues in the fourth quarter of 2007, and continue to expect deliveries under the $11 million purchase order over the next three years,” said QPC co-founder and CFO George Lintz. “We believe that QPC can become a leader in providing lasers for a new generation of consumer electronics displays, and we are committed to capitalizing on these opportunities as well as continued growth and in all our key markets,” concluded Lintz.
QPC previously demonstrated its green laser based on frequency doubling of its proprietary BrightLase® single-mode laser technology. [See prior announcement, September 18, 2007.] BrightLase® single-mode lasers produce single frequency output powers exceeding 9 Watts continuous wave and peak conversion efficiencies greater than 50%.
Forward Looking Statements
This release and other materials released by the Company from time to time contain or may contain forward looking statements and information that are based upon beliefs of, and information currently available to, the Company's management as well as estimates and assumptions made by the Company's management. When used in the materials the words "anticipate", "believe", "estimate", "expect", "future", "intend", "plan" or the negative of these terms and similar expressions as they relate to the Company or the Company's management identify forward looking statements. Such statements reflect the current view of the Company with respect to future events and are subject to risks, uncertainties, assumptions and other factors (including the risks contained in the sections of the Company's reports filed with the Securities and Exchange Commission entitled "Risk Factors") relating to the Company's industry, the Company's operations and results of operations and any businesses that may be acquired by the Company. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. The following discussion should be read in conjunction with the Company's reports filed with the Securities and Exchange Commission.
About QPC Lasers, Inc.
QPC Lasers, Inc. (www.QPClasers.com) is a world leader in the development, manufacture and distribution of high-brightness, high-power semiconductor lasers for the consumer electronics, defense, homeland security, industrial, and medical markets. Founded in the year 2000, QPC is vertically integrated from epitaxy through packaging and performs all critical fabrication processes at its state-of-the-art high-technology facility in the Los Angeles suburb of Sylmar, CA. QPC is a publicly traded U.S. company (OTCBB: QPCI) and is ISO certified.
Contact QPC Lasers, Inc.
Marie Dagresto, Director of Investor Relations
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