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ZYGO ANNOUNCES A SERIES OF ACTIONS TO IMPROVE LONG-TERM PROFITABILITY

 ZYGO ANNOUNCES A SERIES OF ACTIONS TO IMPROVE LONG-TERM PROFITABILITY
 MIDDLEFIELD, Conn., March 31 /PRNewswire/ -- Zygo Corporation (NASDAQ: ZIGO) today announced a series of actions aimed at improving the company's long-term profitability. Zygo's instrument products organization structure has been realigned to focus resources to more fully serve the measurement requirements of the data storage, semiconductor and optical manufacturing industries. In addition, the decision has been made to divest IMAGE, one of the company's lower-volume product lines, consisting of a family of laser-based optical gauges.
 As a result of these actions, Zygo has been able to reduce costs by eliminating 38 positions, or approximately 15 percent, of the workforce. The company will make a charge to earnings in its third quarter to cover costs associated with these actions. As a result of this charge to earnings and lower-than-anticipated shipment volumes during the quarter, the company expects to report a substantial loss for the third quarter.
 "These actions, made even more compelling because of the present softness in many of our markets, are consistent with our strategy to improve Zygo's profitability while investing in markets and technologies that provide the greatest growth potential" said Gary Willis, Zygo's president and chief operating officer. Willis joined Zygo recently, prior to which he was president, chief executive officer and chairman of The Foxboro Company.
 Zygo Corporation designs, develops, manufactures and markets high-performance, laser-based noncontact electro-optical measuring instruments and accessories, and manufactures precision optical components.
 -0- 3/31/92
 /CONTACT: Paul F. Forman, chairman & chief executive officer, or Gary K. Willis, president & chief operating officer of Zygo Corporation, 203-347-8506/
 (ZIGO) CO: Zygo Corp. ST: Connecticut IN: SU:


TS -- NY021 -- 3261 03/31/92 09:20 EST
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Publication:PR Newswire
Date:Mar 31, 1992
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