SOURCE: Finisar

October 09, 2007 05:00 ET

Finisar's Advanced Optical Components Division Receives Millennium Business Award

SUNNYVALE, CA--(Marketwire - October 9, 2007) - Finisar Corporation (NASDAQ: FNSR), a technology leader in fiber optic solutions for high-speed networks, has been named a recipient of the Allen Economic Development Corporation's (AEDC) Millennium Business Award. Located in Allen, Texas, Finisar's Advanced Optical Components (AOC) Division was honored with the Corporate/Manufacturing Award for its ongoing commitment to the local community and to the economic development of the City of Allen.

Co-sponsored by the Allen Chamber of Commerce and "Inside Collin County Business," a bi-weekly publication that focuses on local business news, the AEDC Millennium Business Awards annually recognizes individuals and organizations that contribute to the economic development of the area. Winners were chosen from nominations submitted by Allen business and community leaders and citizens and were announced at the annual luncheon which took place on Friday, September 21.

"The Millennium Business Awards were created to honor and recognize those entities that are making positive contributions to the Allen community," said Kurt Kizer, Board president, AEDC. "As a city, we have worked tirelessly to make Allen an attractive locale for businesses and residents alike, so when established companies like Finisar choose to put down roots in our community, we consider it proof that we're doing something right."

"Our corporate philosophy has always been to integrate ourselves into the local community and bring about positive changes," said John Kavanagh, general manager and vice president of Finisar's Advanced Optical Components Division. "Looking back, this has been a phenomenal year of growth and expansion for AOC and to be the recipient of such a prestigious award is both a privilege and an honor. We are committed to continuing our partnership with the City of Allen and look forward to another successful year."

Spanning eighteen acres within the Millennium Technology Park in Allen, the 160,000 square foot manufacturing facility features state-of-the-art equipment for producing Vertical Cavity Surface Emitting Lasers (VCSELs) which are used to power high-speed optical communication systems. Operational since October 2006 following its relocation from a former Honeywell, Inc. facility, the Allen site has nearly 200 employees and ships hundreds of thousands of laser and sensor products each week with over 60 million such devices sold since the inception of this optical technology group.

About Finisar

Finisar Corporation (NASDAQ: FNSR) is a global technology leader for fiber optic components and subsystems and network test and monitoring systems. These products enable high-speed voice, video and data communications for networking, storage and wireless applications over Local Area Networks (LANs), Storage Area Networks (SANs), and Metropolitan Area Networks (MANs) using Ethernet, Fibre Channel, IP, SAS, SATA and SONET/SDH protocols. The Company is headquartered in Sunnyvale, California, USA. More information can be found at www.finisar.com.

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