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   Technology StocksSMIT (Schmitt Inds)likely to post 400% earnings gain YoY


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To: Brian Meath who started this subject8/15/2000 11:03:29 AM
From: GARY P GROBBEL
   of 276
 
I like this company for several reasons and if you go to the site or better yet get their pkg you will find they are into some pretty exciting stuff. stock has been basing in the 2.25-2.37 area and i am hoping for a good year here...plus there are wildcards in this deck...8m shares outstanding:

Schmitt Industries Completes Profitable Year
PORTLAND, Ore.--(BUSINESS WIRE)--July 20, 2000--Schmitt Industries (Nasdaq:SMIT - news) has completed its most recent fiscal year reporting net income of $561,459 or $.07 per share.

This compares to a net loss of $259,307 or $.03 per share for the fiscal year ended May 31, 1999. Overall sales increased by 11% to $8.9 million from $7.9 million in fiscal 1999 while both cost of sales and operating expenses declined in terms of dollars and as a percentage of sales. There were several factors in fiscal 2000 that produced these results and should also have a positive effect in fiscal years 2001 and beyond.

Sales of balancing systems from the United States increased by 7% over sales of the prior fiscal year. This sales growth is directly attributable to the market acceptance of the SB-4500 control unit (fiscal 2000 was the first full year this product was sold) and the AEMS (Acoustic Emissions Monitoring System) used by customers to monitor portions of the grinding process. Sales of measuring products demonstrated dramatic growth, increasing to $1.6 million from less than $0.6 million in fiscal 1999. Sales growth of this product segment was due to two factors, revenues recognized on large systems sold to the US defense industry and its contractors and from shipments of new technology to historic market segments.

Schmitt Industries -- Financial Summary
Years ended May 31, 1999 and 2000

2000 1999
---- ----

Sales 8,854,000 7,958,000
Gross Profit 4,959,000 3,812,000
Operating Expenses 4,191,000 4,303,000
Net Income (Loss) 561,000 (259,000)

The Company has traditionally reported gross profit percentages in excess of 60% and fiscal 2000 saw a movement back toward those levels. The consolidated gross profit percentage was 56% compared to 48% in fiscal 1999. The result of this significant percentage increase is that gross profits in fiscal 2000 increased over those realized in fiscal 1999 by $1.1 million on increased sales of $0.9 million. Both product segments, Balancing Systems and Measurement Systems saw increases in gross profits. Gross profits from Balancing products increased to 53% from 48% while the increase on Measurement products was to 70% from 45%.

Revenues for the fourth quarter of fiscal 2000 amounted to $1,955,000 compared to $2,044,000 for the same period last year. Gross profits for the fourth quarter of fiscal 2000 were $1,135,000 compared to $868,000 for the fourth quarter of fiscal 1999. Net income for the quarter was $68,000 compared to a net loss of ($109,000) for the same period last fiscal year. Earnings per share was $.01 (fully diluted) compared to a loss per share of ($.01) (fully diluted) for the fourth quarter ended May 31, 1999. Revenues in the fourth quarter of 2000 were slightly below expectations and occurred in the measurement segment. During the fourth quarter of fiscal 2000, sales related to two large projects for the defense industry were deferred due to delays in receipt of materials.

Schmitt Industries -- Financial Summary
Three months ended May 31, 1999 and 2000

2000 1999
---- ----
Sales 1,955,000 2,044,000
Gross Profit 1,135,000 868,000
Operating Expenses 1,012,000 1,143,000
Net Income (Loss) 68,000 (109,000)

Wayne Case, President and CEO of Schmitt Industries, said the following: ``We accomplished most of the strategic goals we had set for fiscal 2000 and have placed the Company in a position to realize continued growth in fiscal 2001 and beyond. Much of this improvement occurred as we responded to customer needs by designing, engineering and introducing new products. Sales growth is directly attributable to the AEMS and noncontact balance head products for the Balancer segment and the RC technology (Radial and Circumferential measurements of disk drives) in the Laser Measurement segment. In addition, our engineers have developed new technology and products that will enhance future revenues. These include the DUV (Deep Ultra-Violet) light scatter products that provide disk drive manufacturers with the ability to measure the surface characteristics of glass substrates and the Precision Roll Monitor products that will be used to measure the dimensional characteristics of industrial rolls used in various industries. In addition, we have taken steps to improve the depth and quality of our engineering staff, with the most significant of those the acquisition of Acuity Research in June of 2000. The engineering staff is now well positioned to continue the development of products that will significantly enhance future sales.''

The information contained in this release contains certain forward-looking statements that anticipate future trends or events. These statements are based on certain assumptions that may prove to be erroneous and are subject to certain risks including but not limited to the uncertainties of the Company's new product introductions, the risks of increased competition and technological change in the Company's industry and other factors detailed in the Company's SEC filings. Accordingly, actual results may differ, possible materially, from the predictions contained herein.

--------------------------------------------------------------------------------
Contact:
For Schmitt Industries --
Linda M. Case, 503/227-7908 (Investor Relations)
www.schmitt-ind.com

Email this story - View most popular stories emailed

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To: Brian Meath who started this subject9/6/2000 11:58:28 AM
From: GARY P GROBBEL
   of 276
 
SMIT...Nasdaq around 2 5/8...had a one day flyer last week and reached 3.47 on 175,000 shares but then gave a lot back over next few days. However, I submit that there is a considerable technology portfolio here and this is part of it from the recent 10k. I am long on this and continue to add...pls review the entire k and recent press releases:

SCHMITT MEASUREMENT SYSTEMS, INC.

SMS manufactures and markets a line of laser-based, precision measurement
systems and operates a precision light scatter measurement laboratory
utilized by third-party equipment manufacturers and others.

Light scatter technology involves using lasers, optics and detectors to throw
a beam of light on a material sample and record its reflection/transmission.
Analysis of light scatter information can determine material characteristics
such as surface roughness, defects and dimensional sizing without introducing
contaminants and causing changes to the tested material.

The principal products of SMS are laser-based measurement products and
technology applicable to both industrial and military markets. The Company
has used the patents, patent applications, trademarks and other proprietary
technology to successfully refocus the marketing efforts into industrial
markets, including electronics, computer disk manufacturers and flat-panel
display manufacturers.

4

<PAGE>

In Fiscal 1998, 1999 and 2000, net sales of SMS products totaled $3,093,972,
$579,844 and $1,608,567 respectively. Net sales of SMS products accounted for
29% of the Company's revenue in Fiscal 1998, 7% in Fiscal 1999 and 18% in
Fiscal 2000.

SMS operates four product lines: laser-based light-scatter measurement
products, research products, a light-scatter measurement laboratory and other
laser alignment products.

DISK MEASUREMENT PRODUCTS:

These products use proprietary laser light scatter technology to perform
non-contact surface measurement tests that quantify surface micro-roughness
in a rapid, accurate, repeatable and non-destructive manner. Products are
sold to manufacturers of disk drives and silicon wafers, both industries with
fabrication processes that require precise and reliable measurements.

Computer hard disks require exact manufacturing control and a narrow
tolerance band for acceptable roughness. The read/write head flies over the
disk drive surface on a cushion of air generated when the rough surface of
the rotating disk pulls air under the head. If the surface is too smooth, the
head may stick or bind to the disk. If it is too rough, the head will fly too
far from the disk surface, causing a reduction in data density or storage
capacity. The DUV, TMS and DTM product series meet the challenges of disk
drive manufacturers. Customers of the DTM and TMS series include Seagate
Substrates, HMT Technology Corporation, Western Digital and Komag, Inc.

The original TMS-2000 (Texture Measurement System) product, the world's
fastest and most accurate non-contact texture measurement system,
revolutionized disk-manufacturing technology. The product is currently used
worldwide by most major disk drive manufacturers and provides fast, accurate
and repeatable microroughness measurements and quadruples production
throughput when compared to other testing devices.

The DTM 2000 (Dual Texture Measurement System) is the fastest, most accurate,
non-contact automated texture measurement system in the world. This product
provides disk drive manufacturers with affordable inspection of all disks
produced. The advanced system is ideally suited for testing in both
production and quality control applications and testing speeds are compatible
with most in-line production processes.

In fiscal 2000 the Company developed the TMS-2000-DUV product for the disk
drive market. Manufacturers in that industry have always faced and continue
to face increasing demands for products with greater storage capacity and
improved performance and reliability. To meet these demands, the industry is
planning to produce a large portion of disk drives using glass substrates
rather than aluminum. Manufacturers will require the technology and products
to measure surface roughness of these substrates to the same exact levels as
those that measure aluminum substrates. The Deep Ultra-violet light (DUV)
technology and product uses the patented light scatter technology to measure
the surface roughness of glass substrates to levels less than one Angstrom
(the point of a needle is one million Angstroms in diamter). Initial sales
are expected in fiscal 2001.

The capabilities of these products were enhanced significantly in Fiscal 1999
with the development and introduction of the "RC" series. This product uses
light scatter technology to simultaneously measure roughness of the disk
surface in two directions. Radially, when the read/write head is moving to
another disk sector and circumferentially, when the read/write head is
processing information on the disk. The two separate roughness levels are
required so the head can operate correctly. This measurement method was not
possible until developed by Schmitt and is not possible through any other

5

<PAGE>

cost effective measurement means. Surface roughness can now be measured to
levels below 0.5 Angstroms.

SILICON WAFER MEASUREMENT PRODUCTS:

The TMS-2000W and TMS-3000W (Texture Measurement Systems) provide fast,
accurate, repeatable measurements for manufacturers of silicon wafers,
computer chips and memory devices. This industry demands manufacturing
precision to increase performance and capacity and the TMS-2000W and
TMS-3000W help achieve these goals. Silicon wafers are carefully cut and
polished to provide the base upon which a computer or memory chip is produced
and therefore, chip manufacturing is extremely dependent on the beginning
surface roughness of the wafer. Since all silicon wafers exhibit a
microscopic level of surface roughness, stemming from chemical deposition,
grinding, polishing, etching, or any number of other production techniques,
some method of measuring these surface characteristics is required. The wafer
measurement products provide a way for SMS customers in this industry to
quantify and control their manufacturing process. The system provides
measurements to a few hundredths of an angstrom, a level unachievable by
other testing devices.

TESTING LABORATORY:

SMS provides a highly advanced, extremely precise measurement services
laboratory to a wide variety of industrial and commercial businesses that
require precise measurements achievable only with advanced laser light
scatter technology. The laboratory uses three SMS CASI Scatterometers for
measuring surface roughness. The true value of the laboratory is not only its
extremely precise measurement capability but also the test item is not
altered, touched or destroyed. Thus, the laboratory is widely used by the
semiconductor and computer hard disk industries, as well as manufacturers of
critical optical components in aerospace and defense systems. Customers of
the laboratory have included Aerojet, AT&T Bell Labs, Eastman Kodak, General
Electric, IBM, NASA and dozens of other industrial companies, universities
and government agencies.

While total revenue from the laboratory is a small percentage of SMS's
business, use of the laboratory by customers' leads to orders for SMS's
laser-based light scatter measurement products. Therefore, it represents one
of the best marketing channels of current and future products. Existing
products being developed in conjunction with the measurement services
laboratory are being marketed to a variety of industrial customers.

RESEARCH PRODUCTS:

These products are sold to companies and institutions involved in research
efforts. The CASI Scatterometers are angle-resolved BRDF measurement
instruments providing customers with precise roughness measurements of
optical surfaces, diffuse materials, semiconductor wafers, magnetic storage
media and precision-machined surfaces, as well as surfaces affecting the
cosmetic appearance of consumer products. A Scatterometer uses ultraviolet or
infrared laser light as a nondestructive probe to measure surface quality,
optical performance, smoothness, appearance, defects and contamination on a
wide variety of materials.

The sample is mounted on stages capable of moving bidirectionally and/or in
rotation. The detector sweeps around the sample in the incident plane
measuring scattered and specular light. During the scan, the computer
controls gain, filter and aperture changes through user-defined parameters.
The instrument background is measured separately and can be compared with the
sample data. Results print on the HP

6

<PAGE>

PaintJet printer as viewgraphs or publication-ready figures. Customers
include Boeing, The U.S. Navy and Pratt & Whitney.

OTHER MEASUREMENT PRODUCTS:

The uScan System consists of a hand-held control unit, an interchangeable
measurement head and a separate charging unit. To perform a measurement, the
operator places the measurement head on the objective area and presses a
button. Each measurement takes less than five seconds. The results are
displayed and stored in system memory. The uScan can store 700 measurements
in 255 files and provides the capability to program pass/fail criteria.
Software is available for control, analysis and file conversion. From a
single measurement, a user can determine RMS surface roughness, reflectance
and scatter light levels (BRDF) on flat or curved surfaces under any lighting
conditions.

LASER ALIGNMENT SYSTEMS:

The Auto-Collimating Alignment Laser System - Model 2002 is an extremely
accurate laser alignment system. The incorporation of a solid-state laser
diode provides increased beam stability and eliminates warm-up time. The
unique SMS See-Thru target design completely eliminates beam displacement and
power loss. The addition of an operator selectable auto-collimating feature
provides one arc second accuracy over a large angular range. A microprocessor
automates system configuration. A new bus interconnect reduces setup time and
allows up to seven operator selectable targets, reducing time required to
perform measurements. A complete Model 2002 system consists of an
auto-collimating laser, power supply, digital display, See-Thru and end
targets, carrying case and cable assemblies.

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To: Brian Meath who started this subject9/12/2000 12:12:03 PM
From: ksuave
   of 276
 
Does SMIT do work for Corning? TIA

Richard

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To: ksuave who wrote (265)9/12/2000 12:50:17 PM
From: GARY P GROBBEL
   of 276
 
good question richard...regardless, i like this one. been waiting a while, may have to wait a while longer, but eventually i think their technology will be uncovered...maybe at this conf coming up.

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To: GARY P GROBBEL who wrote (266)9/12/2000 2:31:08 PM
From: ksuave
   of 276
 
I thought I remembered in old pr's that they had a contract with Corning, but I couldn't find mention in current pr's, and this perked my interest:

GLW : CORNING INC (NYSE)

Corning to Enter Fast-Growing Market for DNA Microarrays Used in Genomic Research

MIAMI, Sep 12, 2000 (BUSINESS WIRE) -- Corning Incorporated (NYSE: GLW chart, msgs) used the 12th annual Genome Sequencing and Analysis Conference today in Miami to announce that it is entering the high-growth market for tools used to accelerate genomic research and speed the discovery of new drugs.

The company will enter the market by using a proprietary, high-volume process to manufacture microarrays used by research scientists to simultaneously analyze thousands of genes.

According to Corning, the new manufacturing process will enable it to manufacture one DNA microarray per minute, 10 to 20 times faster than today's conventional processes. In addition, Corning estimates that its process will allow it to produce thousands of arrays during a single production run, versus conventional processes, which are typically limited to less than 500 microarrays.

The company's entry into the market for microarrays is consistent with its recent concentration on high-growth markets, including fiber-optic technologies used to expand the capacity of the Internet, and flat-panel displays used in computers, digital cameras and personal digital assistants. According to Corning, the market for DNA microarrays is expected to grow from $250 million today to $1 billion in 2005. The company said that its microarrays will be in full commercial production by the first quarter of next year and that it believes it has the potential to capture a leadership position in the marketplace before 2005.

The new manufacturing process is expected to significantly expand the research community's access to DNA microarrays and to allow researchers to avoid having to pay large up-front fees or to sign long-term contracts, as is common practice in the industry today. According to Pierce Baker, Corning senior vice president of Life Sciences, "DNA microarrays are a vital tool in the race by pharmaceutical companies to bring safe, effective drugs and disease therapies to market as quickly and cost-effectively as possible. Researchers, whether they work for a large pharmaceutical company, a start-up biotech firm or a small university laboratory, will no longer be hampered by a lack of affordable, high-quality microarrays."

The new manufacturing process is designed to deliver a very high level of consistency and reproducibility from one array to the next, overcoming a significant challenge faced by the industry today. "This will ultimately lead to enhanced test sensitivity and the generation of more consistent, high-quality data than is available today," Baker said.

Unique Manufacturing Process Leverages Three Corning Technologies

The new manufacturing process combines process technologies used to make other Corning products, including an extrusion process used to make cellular substrates used at the heart of automotive catalytic converters, a glass redraw process used to manufacture hair-thin strands of optical fiber, and a micro-printing process formerly used to apply decorative patterns to consumer cookware.

In essence, the company is able to take a honeycomb-like glass substrate with thousands of individual cells and have it drawn-down, reducing the diameter of each cell by 500% or more. During the draw-down process, the integrity and structure of each cell is perfectly maintained. It is then used as a "reservoir", with each cell holding its own unique DNA sequence. Through a separate micro-printing technique, the entire contents of a reservoir can be printed simultaneously, in a massively parallel manner, onto a single glass slide. Corning is working with a number of companies to ensure superior DNA content and to validate product performance.

To create this process, Corning leveraged numerous technologies already developed within other areas of the company. "We recognized that several of our core competencies - including advanced materials, surface technologies, and optics - could be brought together to develop a new solution for DNA microarray production," noted Baker. "Applying technology across the company not only makes good business sense, it also allowed us to establish our microarray manufacturing process with designed in process quality and reproducibility." The Corning Life Sciences division, which will produce the arrays, has been manufacturing and supplying laboratory products for the life science research industry since 1915, when it introduced Pyrex laboratory glass.

Microarrays enable numerous key aspects of the research and discovery process for drug development, including gene discovery, disease-target identification, pathway characterization, and drug screening. Corning's microarrays are currently undergoing beta testing at laboratories in the U.S. and Europe.

Established in 1851, Corning Incorporated (www.corning.com) creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. Corning's revenues in 1999 were $4.7 billion.

Forward-Looking Cautionary Statements

Except for historical information and discussions contained herein, statements included in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause results to differ materially, as discussed in the company's filing with the Securities and Exchange Commission.
Contact:

Corning
Media Relations
Robert W. DeMallie, 607/974-8778
demallierw@corning.com
or
Investor Relations
Katherine M. Dietz, 607/974-8217
dietzkm@corning.com

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To: ksuave who wrote (267)9/12/2000 9:48:11 PM
From: GARY P GROBBEL
   of 276
 
richard...as you go thru their archives look for Seagate....

gpg

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To: GARY P GROBBEL who wrote (268)9/12/2000 11:57:17 PM
From: CusterInvestor
   of 276
 
This may not be current, but the back page of the annual
report lists about 70 companies as customers, including
GE, Seagate, all the big autos, major names but Corning not listed (yet <gg>). bp I took initial position today.

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To: CusterInvestor who wrote (269)9/13/2000 8:25:42 AM
From: GARY P GROBBEL
   of 276
 
bp...these guys are working on some pretty exciting stuff in my opinion. I have learned over the years to size up a company and if you think they have the goods you build a position over time and wait. if your initial decision was correct sooner or later the cream will come to the top. if and when it gets 'noticed' you are securely set up for a long run and MAYBE a portfolio maker.

lots of 'ifs' in there but microcaps are 'iffy' in general. this one i have been interested in for a couple of years.

from 10-k:

SCHMITT MEASUREMENT SYSTEMS, INC.

SMS manufactures and markets a line of laser-based, precision measurement
systems and operates a precision light scatter measurement laboratory
utilized by third-party equipment manufacturers and others.

Light scatter technology involves using lasers, optics and detectors to throw
a beam of light on a material sample and record its reflection/transmission.
Analysis of light scatter information can determine material characteristics
such as surface roughness, defects and dimensional sizing without introducing
contaminants and causing changes to the tested material.

The principal products of SMS are laser-based measurement products and
technology applicable to both industrial and military markets. The Company
has used the patents, patent applications, trademarks and other proprietary
technology to successfully refocus the marketing efforts into industrial
markets, including electronics, computer disk manufacturers and flat-panel
display manufacturers.

4

<PAGE>

In Fiscal 1998, 1999 and 2000, net sales of SMS products totaled $3,093,972,
$579,844 and $1,608,567 respectively. Net sales of SMS products accounted for
29% of the Company's revenue in Fiscal 1998, 7% in Fiscal 1999 and 18% in
Fiscal 2000.

SMS operates four product lines: laser-based light-scatter measurement
products, research products, a light-scatter measurement laboratory and other
laser alignment products.

DISK MEASUREMENT PRODUCTS:

These products use proprietary laser light scatter technology to perform
non-contact surface measurement tests that quantify surface micro-roughness
in a rapid, accurate, repeatable and non-destructive manner. Products are
sold to manufacturers of disk drives and silicon wafers, both industries with
fabrication processes that require precise and reliable measurements.

Computer hard disks require exact manufacturing control and a narrow
tolerance band for acceptable roughness. The read/write head flies over the
disk drive surface on a cushion of air generated when the rough surface of
the rotating disk pulls air under the head. If the surface is too smooth, the
head may stick or bind to the disk. If it is too rough, the head will fly too
far from the disk surface, causing a reduction in data density or storage
capacity. The DUV, TMS and DTM product series meet the challenges of disk
drive manufacturers. Customers of the DTM and TMS series include Seagate
Substrates, HMT Technology Corporation, Western Digital and Komag, Inc.

The original TMS-2000 (Texture Measurement System) product, the world's
fastest and most accurate non-contact texture measurement system,
revolutionized disk-manufacturing technology. The product is currently used
worldwide by most major disk drive manufacturers and provides fast, accurate
and repeatable microroughness measurements and quadruples production
throughput when compared to other testing devices.

The DTM 2000 (Dual Texture Measurement System) is the fastest, most accurate,
non-contact automated texture measurement system in the world. This product
provides disk drive manufacturers with affordable inspection of all disks
produced. The advanced system is ideally suited for testing in both
production and quality control applications and testing speeds are compatible
with most in-line production processes.

In fiscal 2000 the Company developed the TMS-2000-DUV product for the disk
drive market. Manufacturers in that industry have always faced and continue
to face increasing demands for products with greater storage capacity and
improved performance and reliability. To meet these demands, the industry is
planning to produce a large portion of disk drives using glass substrates
rather than aluminum. Manufacturers will require the technology and products
to measure surface roughness of these substrates to the same exact levels as
those that measure aluminum substrates. The Deep Ultra-violet light (DUV)
technology and product uses the patented light scatter technology to measure
the surface roughness of glass substrates to levels less than one Angstrom
(the point of a needle is one million Angstroms in diamter). Initial sales
are expected in fiscal 2001.

The capabilities of these products were enhanced significantly in Fiscal 1999
with the development and introduction of the "RC" series. This product uses
light scatter technology to simultaneously measure roughness of the disk
surface in two directions. Radially, when the read/write head is moving to
another disk sector and circumferentially, when the read/write head is
processing information on the disk. The two separate roughness levels are
required so the head can operate correctly. This measurement method was not
possible until developed by Schmitt and is not possible through any other

5

<PAGE>

cost effective measurement means. Surface roughness can now be measured to
levels below 0.5 Angstroms.

SILICON WAFER MEASUREMENT PRODUCTS:

The TMS-2000W and TMS-3000W (Texture Measurement Systems) provide fast,
accurate, repeatable measurements for manufacturers of silicon wafers,
computer chips and memory devices. This industry demands manufacturing
precision to increase performance and capacity and the TMS-2000W and
TMS-3000W help achieve these goals. Silicon wafers are carefully cut and
polished to provide the base upon which a computer or memory chip is produced
and therefore, chip manufacturing is extremely dependent on the beginning
surface roughness of the wafer. Since all silicon wafers exhibit a
microscopic level of surface roughness, stemming from chemical deposition,
grinding, polishing, etching, or any number of other production techniques,
some method of measuring these surface characteristics is required. The wafer
measurement products provide a way for SMS customers in this industry to
quantify and control their manufacturing process. The system provides
measurements to a few hundredths of an angstrom, a level unachievable by
other testing devices.

TESTING LABORATORY:

SMS provides a highly advanced, extremely precise measurement services
laboratory to a wide variety of industrial and commercial businesses that
require precise measurements achievable only with advanced laser light
scatter technology. The laboratory uses three SMS CASI Scatterometers for
measuring surface roughness. The true value of the laboratory is not only its
extremely precise measurement capability but also the test item is not
altered, touched or destroyed. Thus, the laboratory is widely used by the
semiconductor and computer hard disk industries, as well as manufacturers of
critical optical components in aerospace and defense systems. Customers of
the laboratory have included Aerojet, AT&T Bell Labs, Eastman Kodak, General
Electric, IBM, NASA and dozens of other industrial companies, universities
and government agencies.

While total revenue from the laboratory is a small percentage of SMS's
business, use of the laboratory by customers' leads to orders for SMS's
laser-based light scatter measurement products. Therefore, it represents one
of the best marketing channels of current and future products. Existing
products being developed in conjunction with the measurement services
laboratory are being marketed to a variety of industrial customers.

RESEARCH PRODUCTS:

These products are sold to companies and institutions involved in research
efforts. The CASI Scatterometers are angle-resolved BRDF measurement
instruments providing customers with precise roughness measurements of
optical surfaces, diffuse materials, semiconductor wafers, magnetic storage
media and precision-machined surfaces, as well as surfaces affecting the
cosmetic appearance of consumer products. A Scatterometer uses ultraviolet or
infrared laser light as a nondestructive probe to measure surface quality,
optical performance, smoothness, appearance, defects and contamination on a
wide variety of materials.

The sample is mounted on stages capable of moving bidirectionally and/or in
rotation. The detector sweeps around the sample in the incident plane
measuring scattered and specular light. During the scan, the computer
controls gain, filter and aperture changes through user-defined parameters.
The instrument background is measured separately and can be compared with the
sample data. Results print on the HP

6

<PAGE>

PaintJet printer as viewgraphs or publication-ready figures. Customers
include Boeing, The U.S. Navy and Pratt & Whitney.

OTHER MEASUREMENT PRODUCTS:

The uScan System consists of a hand-held control unit, an interchangeable
measurement head and a separate charging unit. To perform a measurement, the
operator places the measurement head on the objective area and presses a
button. Each measurement takes less than five seconds. The results are
displayed and stored in system memory. The uScan can store 700 measurements
in 255 files and provides the capability to program pass/fail criteria.
Software is available for control, analysis and file conversion. From a
single measurement, a user can determine RMS surface roughness, reflectance
and scatter light levels (BRDF) on flat or curved surfaces under any lighting
conditions.

LASER ALIGNMENT SYSTEMS:

The Auto-Collimating Alignment Laser System - Model 2002 is an extremely
accurate laser alignment system. The incorporation of a solid-state laser
diode provides increased beam stability and eliminates warm-up time. The
unique SMS See-Thru target design completely eliminates beam displacement and
power loss. The addition of an operator selectable auto-collimating feature
provides one arc second accuracy over a large angular range. A microprocessor
automates system configuration. A new bus interconnect reduces setup time and
allows up to seven operator selectable targets, reducing time required to
perform measurements. A complete Model 2002 system consists of an
auto-collimating laser, power supply, digital display, See-Thru and end
targets, carrying case and cable assemblies.

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To: GARY P GROBBEL who wrote (266)9/14/2000 9:19:31 AM
From: Rick Buskey
   of 276
 
Smit--what conf. is that ?

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To: Rick Buskey who wrote (271)9/14/2000 12:16:53 PM
From: GARY P GROBBEL
   of 276
 
richard...say again?

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