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Metrologic Wins Judgment Against Symbol Technologies, Inc.
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Blackwood, New Jersey – June 28, 2006 -- Metrologic Instruments, Inc. (NASDAQ-NMS: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.
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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 www.metrologic.com.
Metrologic’s Contact for Investor Relations:
Ann Anthony – Director, Investor Relations
Email: a.anthony@metrologic.com
Phone: (856) 228-8100 x5507
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