GSI boosts R&D spending in active year

GSI Lumonics Inc cranked up its year-over-year R&D spending by more than 18% to $33.9 million in FY 2000, according to the Kanata-based firm's latest financial results. The developer and manufacturer of laser-based automated advanced manufacturing systems posted sales of $373.8 million and expect a modest increase to $380-390 million in the current FY, despite uncertainty in the semiconductor and electronics systems business. In fourth quarter of FY00, GSI spun off some of its US-based operations to create WavePrecision Inc, which will focus on the sub-components segment of the fiber-optic telecommunications market. Also in the fourth quarter, It sold its life sciences business unit to Packard Bioscience Co in a cash and stock deal worth $73 million....