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In brief: Avanex and Alcatel, Bookham, Greg Olsen

Avanex signs a two-year supply deal with its key customer Alcatel, Bookham prices its latest public offering of stock, and Greg Olsen returns to Earth after 10 days in space.

Avanex and Alcatel ink two-year deal
Optical component manufacturer Avanex has signed a two-year supply agreement with its key customer Alcatel.

Under the deal, cash-strapped Avanex, which was recently warned over accounting procedures and has also been threatened with de-listing from the Nasdaq, will continue to supply Alcatel with a range of active and passive components including amplifiers and transponders until October 2007.

The two companies have had a close relationship ever since Avanex acquired Alcatel Optronics and part of the components business belonging to Corning back in 2003.

Since then, Avanex has been slashing costs in a bid to reduce its losses, including major cuts at its wafer fabrication site in Nozay, France. It is hoping to break even at the operating level in late 2006.

The latest supply agreement is described as part of a series of deals currently being negotiated by Avanex and Alcatel.

Bookham sets latest IPO price
InP optoelectronics company Bookham is selling 10 million shares of its common stock at the price of $4.75 per share.

As of October 12, the firm's share price stood at just over $5, after enjoying a steady rise in the past few months.

The underwriters of the public offering have been granted 30 days to purchase an additional 1.25 million shares if there is sufficient demand. The offering is set to close on October 17.

Greg Olsen returns from space
Compound semiconductor industry pioneer Greg Olsen has returned to Earth after a 10-day trip into space.

The founder of Epitaxx and, more recently, Sensors Unlimited, landed in Kazakhstan along with the Expedition 11 crew, which was relieved after a six-month stay aboard the International Space Station.

The third so-called "space tourist", Olsen was understandably thrilled with his experience, which he described as "more fulfilling than I could ever have imagined".

Olsen added, "It was an unforgettable experience that I am truly grateful for and will relive in my mind for the rest of my life."

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