Laser Precision Has Possible Buyer; Stock Up $1 : Manufacturing: The negotiated sale would be at $38.6 million, or $8 a share. Unnamed suitor is examining firm’s financial condition.
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SAN JUAN CAPISTRANO — Laser Precision Corp., which makes test equipment for fiber-optic and microprocessor technology, said Tuesday it is negotiating with another company for a possible sale of the company at $8 a share, or about $38.6 million.
Laser would not identify the potential buyer.
C. Fredrick Sehnert, Laser’s chairman, said that no deal has been made but that the suitor will be examining Laser’s financial condition and operations.
The company sold its Irvine manufacturing operation three years ago, he said, leaving three headquarters employees in Orange County. Its remaining production facility is in Utica, N.Y., and employs 162 workers.
Laser Precision, which has operated in the volatile small-company, high-technology market, has seen its stock price fluctuate greatly over the years. In 1991, for instance, the price ranged from its all-time high of $16.50 to $4.13 a share.
In the past 12 months, the stock price has fallen steadily from a high of $9.86 a share in November to a low of $3.63 a share in July.
The stock gained $1 a share Tuesday to close at $6.86 a share on the Nasdaq market.
Laser Precision’s Shares
Laser Precision’s stock closed Tuesday at $6.86 a share, up $1, after negotiations for a sale of the company were announced. Annual peak prices:
1990: $4.63
1991: $16.50
1992: $16.13
1993: $16.50
1994*: $9.00
* Through Sept. 30
Source: Dow Jones; Researched by JANICE L. JONES/Los Angeles Times
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