SIDT Coatings subsidiary receives major equipment order from Fortune 100 electronics manufacturer; SIDT Coatings Inc. to build custom electronic production system valued at $429,000.HOUSTON--(BUSINESS WIRE)--April 26, 1996--SIDT Coatings Inc., a subsidiary of SI Diamond Technology Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SIDT SIDT Solomon Islands Development Trust SIDT Store Interrupt Descriptor Table SIDT Support Initiatives in Development Trust (India) ), has received a major order from a Fortune 100 electronics and materials corporation for a custom-designed, electronics production system. The value of the order is $429,300, which represents a significant portion of SIDT's potential revenues for 1996. In fiscal 1995, SIDT reported $3 million in revenues. "This further demonstrates SIDT's ability to design and deliver to customer specifications and build equipment to meet critical market needs," Dr. Howard K. Schmidt, SIDT's chairman and chief executive officer stated. "We are excited to see the response from the market to the high-quality, state-of-the-art equipment that SIDT produces, and we believe this will be an increasingly important revenue generator for the company." The order represents approximately 14 percent of SIDT's total 1995 revenues. SIDT will work with the customer during production and anticipates delivering the system in the third quarter of 1996. About SI Diamond Houston-based SI Diamond is engaged in the development and commercialization of specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. products based on advanced materials Advanced Materials is a leading peer-reviewed materials science journal published every two weeks. Advanced Materials includes Communications, Reviews, and Feature Articles from the cutting edge of materials science, including topics in chemistry, physics, , including diamond and ceramics. SIDT Coatings Inc. is a provider of coating equipment for the optical and electronic industries. SIDT's other operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. include: Diamond Tech One Inc., a provider of advanced microelectronic The miniaturization of electronic circuits. See chip. packaging and assembly for the semiconductor and display industries; and Northlight Displays Inc., which is developing and commercializing advanced display products; SIDT also includes the SIDT Sponsored Programs Division, which pursues new technology development and opportunities for government funding. The company's common stock trades on Nasdaq under the symbol SIDT and on the Pacific and Boston exchanges under the symbol SDI (1) (Serial Digital Interface) A physical interface widely used for transmitting digital video in various formats. For electrical transmission, it uses a high grade of coaxial cable and a single BNC connector with Teflon insulation. . CONTACT: SI Diamond Technology Inc., Houston Trey Fecteau, 713/529-9040 |
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