Lumera (LMRA) Surges on Successful Test Results

October 16, 2006 12:41 PM EDT
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Shares of nanotechnology company Lumera Corporation (NASDAQ: LMRA) are surging today after the company said it has completed successful testing of its millimeter wave wireless bridge that will enable government and commercial entities to transmit vast amounts of data via a variety of high speed telecommunications networks.

The company said the successful test included transmitting 10 Gbps at 94 GHz, through the use of Gigabit Ethernet and other standard protocols.

Dr. Raluca Dinu, Director of Lumera's Electro-Optics Business Unit, said, "Based on these internal results, we are confident that the third party tests to be conducted next month on the multiband system will be equally positive. We've already begun discussions with prospective customers who have expressed interest in the fully functional commercial product."

Shares of Lumera are 102% higher in mid-day action Monday.

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