SOURCE: Finisar

September 07, 2005 07:30 ET

Finisar to Recognize Gain on Sale of Minority Interest in Sensors Unlimited

SUNNYVALE, CA -- (MARKET WIRE) -- September 7, 2005 -- Finisar Corporation (NASDAQ: FNSR), a technology leader in gigabit fiber optic solutions for high-speed data networks, announced today that it will recognize a gain of approximately $12 million on the sale of its minority interest in Sensors Unlimited pending the closing of the acquisition of Sensors Unlimited by Goodrich Corporation.

Goodrich announced on September 6, 2005 that they have entered into a definitive agreement to acquire Sensors Unlimited for $60 million in cash and the transaction is expected to close in the fourth quarter of 2005. The transaction is subject to approval by U.S. regulatory agencies.

SAFE HARBOR UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACTS OF 1995

Certain statements contained in this press release may constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Finisar's expectations, beliefs, intentions, or strategies regarding the future. All forward-looking statements included in this press release are based upon information available to Finisar as of the date hereof, and Finisar assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These uncertainties include risks that the sale of Sensors Unlimited may not be consummated. Other risks relating to Finisar's business are set forth in Finisar's Annual Report on Form 10-K and other interim reports as filed with the Securities and Exchange Commission.

ABOUT FINISAR

Finisar Corporation (NASDAQ: FNSR) is a technology leader for fiber optic subsystems and network test and monitoring systems. These products enable high-speed data communications for networking and storage applications over Gigabit Ethernet local area networks (LANs), Fibre Channel storage area networks (SANs), and metropolitan area networks (MANs) Fibre Channel, IP, SAS, SATA and SONET/SDH-based protocols. The Company's headquarters is in Sunnyvale, California, USA. www.Finisar.com.

Contact Information

  • Contact:
    Steve Workman
    VP Finance, Chief Financial Officer
    408-548-1000

    Ed Lamb
    Investor Relations
    408-542-5050
    Email Contact