SOURCE: Photon Dynamics, Inc.

October 08, 2007 06:30 ET

Photon Dynamics Elects the Honorable Donald C. Fraser to Board of Directors

Appointment Expands Board and Leverages Expertise in Department of Defense

SAN JOSE, CA--(Marketwire - October 8, 2007) - Photon Dynamics, Inc. (NASDAQ: PHTN), a leading global supplier of integrated yield management solutions for the flat panel display market, today announced that its board of directors voted to increase the number of directors on the company's board from seven to eight and to elect the Honorable Donald C. Fraser, PhD, to fill the vacancy.

Dr. Fraser has had a distinguished career managing the development of high technology enterprises, both in the private and public sectors. He currently serves on three corporate boards; the largest of which, DRS Technologies, Inc., is a NYSE listed defense company. In addition, he is also a member of the NASA Administrator's Advisory Council.

Dr. Fraser was the founder and Director of the Boston University Photonics Center and a Professor of Engineering and Physics at Boston University until he retired in January 2006. From 1991 to 1993, Dr. Fraser served in the Bush administration as Principal Deputy Under Secretary of Defense, Acquisition. He served as Deputy Director of Operational Test and Evaluation for Command, Control, Communications and Intelligence for the Department of Defense, from 1990 to 1991. Prior to his government experience, Dr. Fraser spent almost 30 years at Draper Laboratory in positions of increasing responsibility, culminating in his role as Executive Vice President and Chief Operating Officer. He served for many years on the faculty of the Massachusetts Institute of Technology, the institution from which he earned all of his academic degrees.

Dr. Fraser is a Member of the National Academy of Engineering, an Honorary Fellow of the American Institute of Aeronautics and Astronautics, and a Fellow of the American Astronautical Society. He is a recipient of the Navy League Gold Medal for Technology, the NASA Public Service Medal and the Defense Distinguished Service Medal, the highest award accorded to civilians by the Department of Defense.

Jeff Hawthorne, President and Chief Executive Officer, commented, "We are pleased to welcome Dr. Fraser to Photon Dynamics' Board of Directors. His appointment will provide strategic depth to the Company as we capitalize on the potential growth opportunities in advanced digital camera technology in the Defense, Homeland Security, Surveillance, Industrial Machine Vision, and Medical/Dental markets resulting from our recent acquisition of Salvador Imaging." Hawthorne continued, "Dr. Fraser's extensive experience in technology development and the defense industry will be invaluable as we refine and implement our strategy for growth via entry into these new markets."

About Photon Dynamics, Inc.

Photon Dynamics, Inc. is a leading global supplier of integrated yield-management solutions for the flat panel display market. Photon Dynamics utilizes advanced digital imaging technology to develop systems that enable flat panel display manufacturers to collect and analyze data from the production line, and quickly diagnose and repair process-related defects, thereby allowing manufacturers to decrease material costs and improve throughput. Founded in 1986, Photon Dynamics is headquartered in San Jose, California with sales and customer support offices in Beijing, China; Seoul, Daejeon, Gumi, and Cheonan, Korea; Hsinchu, Tainan, and Taichung, Taiwan; and Tokyo and Tsu, Japan. For more information about Photon Dynamics, visit its website at 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. These uncertainties and risks include, but are not limited to, the risk that growth opportunities from recent acquisitions may not be realized in one or more of the identified sectors. 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.

Contact Information

  • Contacts:

    Corporation:
    Photon Dynamics
    Jeffrey Hawthorne
    (408) 360-3561
    Email Contact

    Investors and Media:
    Guerrant Associates
    Laura Guerrant
    (808) 882-1467
    Email Contact