Sturbridge, Massachusetts-based Galileo Corp is reeling after receiving written notification from its largest customer, Xerox Corp, that Xerox has developed internal production capabilities for dicorotron assemblies and will no longer buy them from Galileo. The assemblies accounted for about $20.4m or 48% of Galileo’s sales for fiscal 1996, and about $3.8m or 39% of Galileo’s sales for the quarter ended December 31. Reduced revenues from the product will materially adversely affect Galileo’s financial performance for at least the balance of fiscal 1997. Galileo makes products applying its core fiber optic and electro-optic technologies for applications in office equipment, analytical instruments, process analysis, telecommunications and medical instruments.
Content from our partners
