GSLI Gsi Lumonics Inc. (MM)

GSI Lumonics Announces Order for Precision Positioning Systems BILLERICA, Mass., Aug. 9 /PRNewswire-FirstCall/ -- GSI Lumonics Inc., (NASDAQ:GSLINASDAQ:andNASDAQ:TSX:NASDAQ:GSI) announces the receipt of an order for MicroE precision positioning systems from a southeast Asia-based, hard disk drive manufacturer. The order, valued at $1.6 million U.S. will be shipped in the third and fourth quarters of 2004. "The demand for data storage remains strong and has grown substantially over the last year, driven by IT upgrades, spending in the business sector and the proliferation of new consumer electronics with embedded hard drives such as set-top video recorders, MP3 players, digital cameras and cell phones," states Ray Sansouci, Vice President and General Manager of GSI Lumonics' Components Division. "MicroE products have taken a strong leadership position in precision equipment for the production of hard disk drives on a global front." GSI Lumonics acquired MicroE products and technology in May of this year as part of the Company's strategy to expand its capabilities, add to its diversity of component products and open opportunities for technology synergies. GSI Lumonics supplies precision motion control components, lasers and laser-based advanced manufacturing systems to the global medical, semiconductor, electronics, and industrial markets. GSI Lumonics' common shares are listed on Nasdaq (GSLI) and The Toronto Stock Exchange (GSI). The Company's web site address is http://www.gsilumonics.com/. Certain statements in this news release may constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934. These forward-looking statements may relate to anticipated financial performance, management's plans and objectives for future operations, business prospects, outcome of regulatory proceedings, market conditions, tax issues and other matters. All statements contained in this news release that do not relate to matters of historical fact should be considered forward-looking statements, and are generally identified by words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "objective" and other similar expressions. Readers should not place undue reliance on the forward- looking statements contained in this news release. Such statements are based on management's beliefs and assumptions and on information currently available to management and are subject to risks, uncertainties and changes in condition, significance, value and effect. Other risks include the fact that the Company's sales have been and are expected to continue to be dependent upon customer capital equipment expenditures, which are, in turn, affected by business cycles in the markets served by those customers. Other factors include volatility in the semiconductor industry, the risk of order delays and cancellations, the risk of delays by customers in introducing their new products and market acceptance of products incorporating subsystems supplied by the Company, similar risks to the Company of delays in its new products, our ability to continue to reduce costs and capital expenditures, our ability to focus R&D investment and integrate acquisitions and other risks detailed in reports and documents filed by the Company with the United States Securities and Exchange Commission and with securities regulatory authorities in Canada. Such risks, uncertainties and changes in condition, significance, value and effect, many of which are beyond the Company's control, could cause the Company's actual results and other future events to differ materially from those anticipated. The Company does not, however, assume any obligation to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking statements. For more information: Ann Dempsey GSI Lumonics Inc. 613-224-4868 Ext.2# DATASOURCE: GSI Lumonics Inc. CONTACT: Ann Dempsey of GSI Lumonics Inc., +1-613-224-4868, Ext.2# Company News On-Call: http://www.prnewswire.com/comp/107189.html

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