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Updated: July 8th, 2008 05:26 PM CDT

Raytheon Awards Follow-On Production Contract to Salvador Imaging, a Photon Dynamics Company

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via PRNewswire

SAN JOSE, Calif. , May 28 /PRNewswire-FirstCall/ -- Photon Dynamics, Inc. (Nasdaq: PHTN), today announced Raytheon Company (NYSE: RTN) has awarded a follow-on production contract to its wholly owned subsidiary Salvador Imaging, Inc. to continue supplying high-performance surveillance cameras for a combat- proven, multi-use imaging system. The contract marks Raytheon's second order for Salvador Imaging's high-resolution surveillance camera products, and represents a continuing relationship as a key supplier to Raytheon's high-end imaging platforms. The recent production contract will result in the delivery of roughly 100 additional imaging systems to Raytheon during 2008.

The surveillance system manufactured at Raytheon Space and Airborne Systems' (SAS) 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 very excited to receive the follow-on contract and to be selected as a preferred supplier to Raytheon for this high-end imaging platform," said David Gardner , president of Salvador Imaging. "We attribute the follow-on contract to the quality of product delivered over the past several months and our strong commitment to working closely with Raytheon."

Photon Dynamics' President and Chief Executive Officer, Jeffrey Hawthorne said, "Raytheon's follow-on contract for Salvador Imaging's cameras further attests to the execution of our strategy to leverage our core imaging and manufacturing knowledge into market opportunities beyond flat panel displays. We are committed to supporting Raytheon's expanding position in the large and growing global market for intelligence, surveillance and reconnaissance systems by providing the most advanced technology and full-cycle customer support."

About Photon Dynamics, Inc.

Photon Dynamics, Inc. (NASDAQ: PHTN) is a global supplier utilizing advanced digital imaging 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, visit its website at http://www.photondynamics.com.

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