Lumera (LMRA) Reports a Q3 Loss; Updates Merger Agreement with GigOptix
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Lumera (Nasdaq: LMRA) reports a Q3 loss of $0.06, compared to a loss of $0.16 for the same period last year.
Revenues totaled $1,565,000 compared to $624,000 for the three months ended September 30, 2007.
On March 27, 2008, Lumera Corporation and GigOptix, LLC (“GigOptix”) announced their entry into a definitive agreement to merge the two companies. Upon completion of the merger, which is subject to Lumera shareholder and other regulatory approval, existing securities holders of Lumera and GigOptix will each own approximately 50% of the outstanding securities of a new holding company named “GigOptix, Inc.” which will trade on the NASDAQ Market under the ticker symbol “GIGX.”
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