QPC Receives $12 Million Contract

QPC Lasers Inc. of Sylmar, Calif., has been awarded a contract for BrightLase semiconductor lasers by an unnamed manufacturer of consumer electronics. The lasers will be used in rear-projection televisions based on digital light processing and liquid-crystal-on-silicon technologies. Under the terms of the agreement, QPC will receive development milestone payments of up to $1.15 million early this year, as well as a noncancellable order for approximately $11 million of the devices to be delivered through 2011. The contract also provides for an exclusive supplier relationship that could be worth as much as $230 million during the 10-year contract term.