Metrologic Wins Judgment Against Symbol Technologies, Inc.
29 Giugno 2006 - 1:45AM
PR Newswire (US)
BLACKWOOD, N.J., June 28 /PRNewswire-FirstCall/ -- Metrologic
Instruments, Inc. (NASDAQ:MTLG) today announced that the Honorable
Harold A. Ackerman, United States District Judge for the District
of New Jersey, has granted its motion for summary judgment against
Symbol Technologies in a contract action for unpaid royalties.
Metrologic calculates its damages for royalties and interest as of
June 30, 2006 to be in excess of $2.6 million. Symbol and
Metrologic entered into a cross-licensing agreement in 1996 whereby
both parties licensed technology related to barcode scanning
products. Symbol ceased payment of royalties to Metrologic
effective as of the fourth quarter of 2004. Metrologic filed suit
against Symbol in May 2005 alleging breach of contract for failure
to pay royalties in accordance with the cross- licensing agreement.
"This court ruling is a milestone victory for Metrologic," said C.
Harry Knowles, the Company's Founder, Chairman and interim Chief
Executive Officer. "The ruling legitimizes our decision to dedicate
considerable resources and resolve to protect our innovative
intellectual property. We are extremely pleased that the Court
agrees that Symbol must honor both its financial and legal
obligations under the cross-licensing agreement." About Metrologic
Metrologic Instruments, Inc. ("Metrologic" or the "Company") is a
global supplier of choice for data capture and collection hardware,
optical solutions, and image processing software. Metrologic has
been delivering innovative, quality products that are cost
effective, reliable and supported by a superior level of personal
service for nearly 40 years. Metrologic products are sold worldwide
through Metrologic's sales, service and distribution offices
located in The Americas, EMEA and Asia/Pacific. Metrologic provides
its customers not only with a great deal, but a great deal more.
For more information please call 1-800-667-8400 or visit
http://www.metrologic.com/. DATASOURCE: Metrologic Instruments,
Inc. CONTACT: Metrologic's Contact for Investor Relations: Ann
Anthony, Director, Investor Relations, +1-856-228-8100 x5507, Web
site: http://www.metrologic.com/
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