Articles

Raytheon Company News

Raytheon Awards Contract to Photon Dynamics

SAN JOSE, Calif., Feb. 7 PRNewswire-FirstCall — Photon Dynamics, Inc. (Nasdaq: PHTN), today announced Raytheon Company (NYSE: RTN) has recently awarded a contract to its wholly owned subsidiary Salvador Imaging to supply high-performance surveillance cameras for a combat proven, multi-use imaging system.

The surveillance system manufactured at Raytheon Space and Airborne Systems' facility in McKinney, Texas offers sophisticated operational modes used for reconnaissance and tactical missions. Raytheon's surveillance system supports a variety of domestic and international rotary-wing, unmanned airborne systems, and fixed-wing platforms.

"We are most gratified to have been awarded this contract by Raytheon," noted David Gardner, President of Salvador Imaging. "Our newly developed camera technology will be used in a proven Raytheon imaging system that gives the military persistent surveillance capabilities and information needed to more effectively respond to a variety of threats."

Photon Dynamics' President and Chief Executive Officer Jeffrey Hawthorne said, "The acquisition of Salvador Imaging clearly has brought immediate benefits to Photon Dynamics. The combination of our imaging and manufacturing knowledge with Salvador's expertise in developing high-performance cameras was the driving force behind the acquisition. Further, this contract provides further validation of our strategy to expand our expertise into areas beyond the flat-panel industry."

About Photon Dynamics, Inc.

Photon Dynamics, Inc. is a global supplier utilizing advanced machine vision technology for market leading Liquid Crystal Display (LCD) flat panel display test and repair systems and for high performance digital imaging systems for defense, surveillance, industrial inspection and medical imaging applications. For more information about Photon Dynamics (Nasdaq: PHTN), visit its website at http://www.photondynamics.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995 -

Certain statements in this press release are forward-looking statements. These forward-looking statements are based on current expectations on the date of this press release and involve a number of uncertainties and risks. As a result, actual results may differ substantially from expectations. For further information on risks affecting Photon Dynamics, refer to the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations" under the caption "Factors Affecting Operating Results" in Photon Dynamics' Annual Report on Form 10-K for the year ended September 30, 2007 as filed with the Securities and Exchange Commission. Photon Dynamics undertakes no obligation to update or revise any forward-looking statements whether as a result of new developments or otherwise.

SOURCE Photon Dynamics, Inc.