Luna Innovations Sets New Strategy for Future
15 Dezembro 2011 - 12:00PM
Business Wire
Luna Innovations Incorporated (NASDAQ: LUNA) has announced a new
corporate strategy to grow revenue that focuses on serving
high-growth industries with new technology solutions to measure,
monitor, protect and improve critical processes in the medical,
defense and composites industries.
The strategy, recently approved by the company’s Board of
Directors, focuses on three key objectives:
- Become the leading provider of sensing
systems and standard test methods for composite materials by
offering disruptive technology that revolutionizes the
industry.
- Continue to pioneer the way and be the
leading supplier of fiber-optic shape sensing technology for
robotic and minimally invasive surgical systems.
- Be the leading choice for ensuring the
integrity of integrated circuits used in defense systems.
“Over the past few months, our leadership team and board members
have worked together to conduct a comprehensive analysis of our
products, strengths, market position and market needs,” said My
Chung, CEO of Luna Innovations. “We believe that our technologies,
our people and our research and development, along with our
partnerships in numerous industries, provide us with some very
attractive opportunities.”
“Now, following a successful reorganization, we want to provide
investors and other stakeholders with a roadmap to the future that
emphasizes the compelling value proposition for markets we serve,”
Chung added.
One example of a product implementing our strategy is the ODiSI
(Optical Distributed Sensor Interrogator), Luna’s new sensing
platform. It provides fully distributed strain or temperature
measurements and delivers an unprecedented amount of data by using
an optical fiber as a continuous sensor over up to 50 meters of
surface. Compared to traditional sensing methods, such as strain
gages, Luna's technology provides greater insight into the
performance, tolerances and failure mechanisms of structures and
vehicles. The company believes the technology will provide
exceptional value to the fast-growing composites manufacturing
market, particularly in aerospace and green energy
applications.
Another growth opportunity is in the medical market. Luna
currently maintains product development relationships with two
leading players in robotic medical technology – Intuitive Surgical
and Hansen Medical – and is working with both companies to support
the development of high-speed shape sensing and localization of
minimally invasive surgical devices using fiber-optic technology.
The technology is helping to improve healthcare with advances in
medical robotics and minimally invasive surgery.
“These are just a few examples of technology and markets where
we’ve identified opportunities to increase revenues and market
share,” Chung said. “Together with our continued emphasis on
research and development and new focus on cultivating a
high-performance team with the energy of a start-up company, we
have mapped out a future direction that takes advantage of
technology trends and high-growth industries to position Luna for
what we expect will be a strong and promising future.”
About Luna Innovations:
Luna Innovations Incorporated (www.lunainnovations.com) focuses
on sensing and instrumentation. Luna develops and manufactures
new-generation products for the healthcare, telecommunications,
energy and defense markets. The company's products are used to
measure, monitor, protect and improve critical processes in the
markets we serve. Through its disciplined commercialization
business model, Luna has become a recognized leader in
transitioning science to solutions. Luna is headquartered in
Roanoke, Va.
Forward-Looking Statements:
The statements in this release that are not historical facts
constitute "forward-looking statements" made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995 that involve risks and uncertainties. These statements include
our expectations regarding our strategy, technological and product
capabilities and potential markets, as well as the company's focus
on opportunities in the medical, defense and composites industries.
Management cautions the reader that these forward-looking
statements are only predictions and are subject to a number of both
known and unknown risks and uncertainties, and actual results,
performance, and/or achievements of the company may differ
materially from the future results, performance, and/or
achievements expressed or implied by these forward-looking
statements as a result of a number of factors. These factors
include, without limitation, technological and product limitations,
potential lack of, or delays in, market acceptance, and failure of
demand for the company's products and services to meet
expectations, and those risks and uncertainties set forth in the
company's periodic reports and other filings with the Securities
and Exchange Commission. Such filings are available at the SEC's
website at www.sec.gov and at the company's website at
www.lunainnovations.com. The statements made in this release are
based on information available to the company as of the date of
this release and Luna Innovations undertakes no obligation to
update any of the forward-looking statements after the date of this
release.
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