64.1 F
San Diego
Tuesday, Dec 5, 2023

PROXY–Laser Power Co.

aser Power Corp. designs, manufactures and markets high-performance optics for industrial, medical and military applications.


Total number of shares outstanding as of Feb. 28, 2000 8,630,000

Price of each share of common stock on Feb. 28, 2000 $7.88

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Aggregate market value as of Feb. 28, 2000 $68,004,400.00

Performance Record

For year ended in thousands, except per-share data

Sept. 30, 1999 Sept. 30, 1998 Aug. 31, 1997

Revenues $34,010 $30,116 $29,740

Net income (loss) $(1,487) $(7,032) $2,275

Net income (loss) per share $(0.18) $(0.85) $0.32

Total assets $21,908 $24,618 $28,119


Robert G. Klimasewski, 56, served as director since 1980 and chairman since December 1998. He also served as chairman, president and CEO of Transmation, Inc., an electronic instrumentation manufacturer, since 1994 and served as vice chairman of Burleigh Instruments, Inc., a scientific instrument and laser manufacturer, since 1972.

Dick Sharman, 65, served as director since February 1998 and CEO since December 1998. He also serves as president and CEO of Exotic Materials, Inc.

William G. Fredrick Jr., 59, served as director since 1980. He also served as president of Laser Mechanisms, Inc., a laser device and accessory manufacturer, since 1980, and Oxid Corp., a laser device and accessory manufacturer, since 1986.

Robert P. Perkins, 47, served as director since February 1998. He has been a private investor and business consultant since 1991. He also serves as director of EMI Acquisition Corp.

John C. Stiska, 57, served as director since 1987. He is chairman of Commercial Bridge Capital, LLC, and serves as counsel to the law firm of Latham & Watkins. He is also a director of Jaymark, Inc., FirstWorld Communications, Inc., Eaton Vorad, Inc. and WebSense, Inc.

Executive Compensation

Officers Cash Compensation

Dick Sharman, CEO $207,700

Glenn Sherman, former chairman and CEO $82,100

Douglas Tanimoto, president of research division $160,000

Dean Hodges, president of microlasers division $155,900

Paul Wickman, senior vice president and CFO $138,700

Significant Stock Ownership

Number of shares Percent

Dec. 1, 1999

Union Miniere USA, Inc. 1,316,713 14.7

II-VI Inc. 1,250,100 14.6

Glenn Sherman 667,831 7.7

Wellington Management Co., LLP 603,000 7.0

Dick Sharman 424,836 5.0

All directors and officers as a group (Eight persons) 1,855,752 20.2

Other Information

Headquarters: 12777 High Bluff Drive, San Diego, CA 92130; (858) 755-0700; fax (858) 259-9093; (www.laserpower.com)

Auditors: Ernst & Young LLP, San Diego

Information was compiled from the company’s annual and proxy reports.


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