Revenues of $122.5 million for the first nine months of fiscal 2012 were $15.1 million higher, or a 14% increase over the first nine months revenues for fiscal 2011.

Net earnings from continuing operations attributable to Zygo of $18.1 million exceeded prior year first nine months net earnings from continuing operations attributable to Zygo by $5.2 million or 40%. Fiscal 2012 first nine months diluted EPS from continuing operations attributable to Zygo of $0.97 per share was 37% higher than diluted EPS from continuing operations attributable to Zygo of $0.71 per share for the first nine months of fiscal 2011.

If the one-time gain on acquisition of $0.11 recorded in the prior year first nine months is excluded, diluted EPS from continuing operations attributable to Zygo for fiscal 2012 first nine months would be 62% higher than prior year adjusted EPS from continuing operations attributable to Zygo of $0.60.

Commenting on the third quarter results, John P. Jordan, Vice President, Chief Financial Officer and Treasurer of Zygo Corporation, said, “In the third quarter, we achieved our previously stated target of 50% gross margin by better loading of manufacturing capacity and continuing benefit from ongoing process improvement initiatives. We believe that these process improvements will help us continue to improve margins in each of our business segments. Our substantial backlog includes contracts with deliveries over several quarters, providing a base for future quarter revenues. Cash flow generation from operations is healthy, resulting in cash at March 31, 2012 of nearly $90 million, attributable to strong operating results and our disciplined approach to working capital management. Our consistent order flow, manufacturing process improvement and tight cost control will enable us to maintain the strength of our operating margins through the end of the fiscal year.”

Dr. Chris Koliopoulos, President and Chief Executive Officer of Zygo Corporation, commented, “Our leading-edge technology and design and manufacturing capabilities, including extreme precision optical design and fabrication, have positioned us to address the strong demand for custom high precision metrology and optics products. We have capitalized on the strength of that demand, as evidenced by the Company’s strong backlog at March 31. Going forward, based on our current forecasts, we expect that timing of certain large orders in the backlog will support the highest revenue quarter of fiscal 2012.”

A reconciliation between GAAP (Accounting Principles Generally Accepted in the United States of America) operating results and non-GAAP operating results is provided following the financial statements that are part of this release.

Zygo Corporation is a worldwide supplier of optical metrology instruments, precision optics and electro-optical design and manufacturing services serving customers in the semiconductor capital equipment, bio-medical, scientific and industrial markets.

Note: Zygo’s teleconference to discuss the results of the third quarter and first nine months of fiscal 2012 will be held at 5 PM Eastern Time on May 3, 2012 and can be accessed by dialing 800-786-5195. This call is web cast live on Zygo’s web site at www.zygo.com. The call may also be accessed for 30 days following the teleconference.

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