Metrologic Completes Acquisition of Adaptive Optics

BLACKWOOD, N.J., Jan. 10 -- Metrologic Instruments Inc., manufacturer of bar code scanning equipment incorporating laser and holographic technology, has completed its acquisition of Adaptive Optics Associates Inc., a subsidiary of United Technologies Corp. Under the terms of the agreement, Metrologic acquired all of the stock of Adapative Optics from United Technologies. AOA is expected to add $0.05 per diluted earnings per share to Metrologic's consolidated diluted earnings per share for the year ending 2001, net of acquisition interest expense and goodwill amortization. The revenues of AOA are projected to be $21 million and $28 million for years ending December 31, 2000 and December 31, 2001, respectively.
AOA will be operated as a wholly owned subsidiary of Metrologic and will retain the AOA name. AOA will be responsible for Metrologic's continued advance into complex, high-speed industrial scanning applications, the company said.