Posted tagged ‘Rochester Optics’

OSA Rochester Section / Entrepreneurship in Optics and Photonics: A Panel Discussion

February 24, 2017

OSA Rochester Section

Tuesday, March 7 at 7 PM

Laboratory for Laser Energetics – East Lobby
240 East River Road, Rochester, NY 14623

2017-03-07_optics_entrepreneurship_panel

The focus is on questions from the audience, which will start after each speaker gives a short introduction on their experience with entrepreneurship.

 

Rochester, the Nation’s “City of Light” Continues Illuminating

February 16, 2017

MAG Installation and City lighting improvements make Rochester shine.

2015 was the International Year of Light.  In 2014, New York Photonics was encouraging IYOL events and celebrations for the coming year. Regionally, a lot of good things came out of that effort. Some of them are touched upon here.

But some things took longer to brew, like this installation by artist Jim Sanborn at Rochester’s Memorial Art Gallery (MAG). MAG Director, Jonathan Binstock and New York Photonics applied for a Bloomberg Arts grant to support the project in 2015, but it wasn’t awarded. That didn’t stop Binstock, though.

Kudos to Jonathan and the MAG for pulling it off at last!

Article in #RochesterDandC here.

International Year of Light Websitesanborn

UNESCO has designated an annual International Day of Light.

What will the Finger Lakes Region be doing on May 16, 2018?

54th Annual Optics Summer Short Course Series

May 12, 2015

June 1 – June 12, 2015

The Institute of Optics will offer its 54th annual Summer School short-course series next month. This year’s offering will be a mix of a one-week course and two-and-a-half-day courses.

RRPA Grants Available

Full scholarships for our Summer School courses are available through a grant from the US Employee and Training Administration, Department of Labor.  The Rochester Regional Optics, Photonics , and Imaging Cluster Accelerator (RRPA). It provides scholarships to displaced workers who are looking to enter the Optics, Photonics, or Imaging industries and to incumbent workers in any of these fields who are looking to advance their careers.  Priority will be given to displaced and disadvantaged workers and veterans, but all qualified attendees are encouraged to apply.  The scholarships are limited to US citizens.ontact  

Contact Gayle Thompson (gayle@optics.rochester.edu) to apply. 

The Institute of Optics Summer Short Courses

Harris Corporation to Acquire Exelis

February 6, 2015

Feb. 6, 2015 — Harris Corporation (NYSE:HRS) and Exelis, Inc. (NYSE:XLS) today announced a definitive agreement under which Harris will acquire Exelis in a cash and stock transaction valued at $23.75 per share, or an approximately $4.75 billion enterprise value. The agreement has been unanimously approved by the Boards of Directors of both companies. The transaction is expected to close in June 2015 and is subject to customary closing conditions, including regulatory and Exelis shareholder approval.

Under the terms of the transaction, Exelis shareholders will receive $16.625 in cash and 0.1025 of a share of Harris common stock, based on Harris’ closing price as of Feb. 5, 2015, for each share of Exelis common stock. Upon closing, Harris shareholders will own approximately 85 percent of the combined company, and Exelis shareholders will own approximately 15 percent. On a pro forma basis for the latest twelve months ended Dec. 31, 2014, the combined company would have had more than $8 billion in revenue and about 23,000 employees globally, including 9,000 engineers and scientists.

“Acquiring Exelis is transformational for Harris,” said William M. Brown, chairman, president and chief executive officer of Harris. “The combination of the two companies’ highly complementary core franchises creates a competitively stronger company with significantly greater scale. We are expanding in a market, where we have decades of success and a workforce dedicated to providing our customers with innovative and cost-effective solutions for some of their most complex challenges.”

“This agreement to become part of Harris Corporation represents an exciting new chapter for Exelis,” said David F. Melcher, chief executive officer and president of Exelis. “Combining the companies not only creates shareholder value, but the commitment to excellence and innovation that both companies share will significantly benefit customers and provide new opportunities for employees.”

Melcher also noted, “Our 2014 was another strong year, and we expect to report revenue of approximately $3.25 billion and adjusted operating margin between 12.4 and 12.5 percent, which is in line with our previous guidance.” Exelis indicated that approximately $25 million of its anticipated free cash flow for 2014 shifted into 2015 due to some delayed collections, but that its estimate for 2015 free cash flow is being increased to approximately $275 million. Exelis also expects depreciation and amortization of approximately $106 million in 2014, net debt of $139 million and a net unfunded pension liability of approximately $1.9 billion at the end of 2014. Exelis ended the year with an estimated $2.8 billion in funded backlog.

Financial highlights
Based on an expected June 2015 closing, the transaction is expected to be slightly accretive to Harris in the first full year and a significant contributor thereafter. Harris has identified estimated net pre-tax cost synergies from the combination in a range of $100 million to $120 million, with savings expected to achieve annual run-rate in year three. Savings are expected from consolidating headquarters and eliminating public company costs and from operational and functional efficiencies.

Harris has secured $3.4 billion of fully committed bridge financing from Morgan Stanley Senior Funding, Inc. and expects to put in place permanent financing in the form of term loans and unsecured bonds prior to closing. Following the transaction, Harris expects to continue to have a solid balance sheet supported by strong free cash flow from the combined business, enabling it to pay down debt rapidly.

Integration plan
Harris has developed a detailed execution plan to ensure seamless integration and achieve identified cost synergies. The dedicated integration team will have executive leadership and be comprised of senior members of both organizations. Harris is confident in its ability to effectively combine these two companies and provide the organizational alignment to achieve full strategic value.

Advisors
Morgan Stanley & Co. LLC is acting as financial advisor to Harris Corporation and Sullivan & Cromwell LLP is serving as principal legal counsel. J.P. Morgan Securities LLC is acting as financial advisor to Exelis, and Jones Day is serving as legal counsel.

Conference call and webcast
As part of Harris’ previously scheduled conference call today beginning at 8:30 a.m. ET to discuss its second quarter fiscal 2015 financial results (reported in a separate news release today) the management of Harris and Exelis will jointly discuss this announcement. The dial-in numbers for the teleconference are (877) 303-9481 (U.S.) and (760) 666-3582 (International), using participant code 74043536. Please allow at least 10 minutes before the scheduled start time to connect to the teleconference. Participants are encouraged to listen via live webcast. Accompanying presentations as well as the live and archived webcast of the call can be accessed at www.harris.com/webcast/quarterly/2015Q2. An audio replay of the call will be available on the Harris website beginning at approximately 12 p.m. ET on Feb. 6.

About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets in more than 125 countries. Headquartered in Melbourne, Florida, the company has approximately $5 billion of annual revenue and about 13,000 employees — including 6,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications® products, systems, and services. Additional information about Harris Corporation is available at harris.com.

About Exelis
Exelis is a diversified, top-tier global aerospace, defense, information and services company that leverages a 50-year legacy of deep customer knowledge and technical expertise to deliver affordable, mission-critical solutions for global customers. Exelis is a leader in positioning and navigation, sensors, air traffic management solutions, image processing and distribution, communications and information systems; and focused on strategic growth in the areas of critical networks, ISR and analytics, electronic warfare and composite aerostructures. Headquartered in McLean, Virginia, Exelis employs approximately 10,000 people and generated 2014 sales of approximately $3.25 billion. For more information, visit www.exelisinc.com.

“Consider a career in skilled trades,” say Economists

February 3, 2015

As the economy continues to recover, economists are seeing stark differences between people with high school and college degrees. Four-year college graduates are nearly twice as likely to have a job compared to Americans who just graduated high school and stopped there.

But economists say that doesn’t mean everybody needs a four-year degree. In fact, millions of good-paying jobs are opening up in the trades. And some pay better than what the average college graduate makes.

http://www.npr.org/2015/02/02/383335110/economists-say-millennials-should-consider-careers-in-trades

MCC Program Thriving

February 2, 2015

It’s tough to get higher tech than the OptiPro Pro 80 GTS.

About the size of a phone booth, with a separate arm holding a control panel covered in buttons, dials and a touchscreen, the machine turns discs of glass into specialized, very precise, very expensive optics.sizzler1

One of those computer-controlled grinders — along with a sister machine, a Pro 80 P polisher, both made by Wayne County’s OptiPro Systems — stand in the front of Monroe Community College’s optics lab, in stark digital contrast to the much older equipment farther back in the lab.

Two such machines can easily cost $300,000-plus, adjunct instructor Ed Fess — who also is R&D manager at OptiPro — told the class of close to a dozen MCC students. “Anything we do in optics is not cheap,” Fess said.

Those students and that new equipment both are part of a major turnaround in MCC’s Optical Technology program. Offering associate’s degrees and certificates in optical systems technology, the program dates back to the early 1970s and has long been a feeder for local optics companies seeking workers.

Read More…

sizzler2

 

 

Rochester Museum & Science Center at the Hub of Rochester’s International Year of Light

January 24, 2015

Did you know that the stunning lights of aurora borealis are the result of solar wind? Or that every CD and DVD player contains a tiny laser? Or that some people can trick their brains to see “impossible” colors?

Fascinating, right? It’s this fascination with light and an unquenchable interest in researching new concepts that has made the Rochester region a light, imaging and optical technologies worldwide hub.

The United Nations has proclaimed 2015 as the International Year of Light.

Organizations, businesses and museums around the world are planning celebrations to highlight to the citizens of the world the importance of light and optical technologies.

The Rochester Museum & Science Center (RMSC), Rochester Regional Photonics Cluster and other commercial and academic partners have come together to engage the community in a variety of light-based experiences. Partners include the Rochester Institute of Technology, University of Rochester, Monroe Community College, OSA-RS (Optical Society — Rochester Section), ASE Optics, Corning Tropel, IDEX Corporation, Optimax and Second Avenue Learning.

Read more…