<SUBMISSION>
<ACCESSION-NUMBER>0001104659-04-015862
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20040601
<ITEMS>5
<ITEMS>7
<FILING-DATE>20040601
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>AXSYS TECHNOLOGIES INC
<CIK>0000206030
<ASSIGNED-SIC>3827
<IRS-NUMBER>111962029
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1228
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-16182
<FILM-NUMBER>04840630
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>175 CAPITAL BLVD SUITE 103
<CITY>ROCKY HILL
<STATE>CT
<ZIP>06067
<PHONE>2018711500
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>175 CAPITAL BLVD SUITE 103
<CITY>ROCKY HILL
<STATE>CT
<ZIP>06067
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>VERNITRON CORP
<DATE-CHANGED>19920703
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a04-6595_18k.htm
<DESCRIPTION>8-K
<TEXT>
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<p style="border:none;color:windowtext;margin:0in 0in .0001pt;padding:0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font style="color:black;font-weight:bold;letter-spacing:0pt;text-decoration:none;text-shadow:none;"><b><font size="5" color="black" face="Times New Roman" style="color:windowtext;font-size:18.0pt;text-decoration:none;">UNITED STATES</font></b></font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WASHINGTON, D.C. 20549</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM 8-K</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT
REPORT</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">PURSUANT
TO SECTION 13 OR 15(d) OF THE</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SECURITIES
EXCHANGE ACT OF 1934</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Date of the Report:&#160; June 1, 2004</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Commission file number 0-16182</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">AXSYS TECHNOLOGIES, INC.</font></b></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its
charter)</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="48%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:48.92%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
  <p align="center" style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="48%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:48.9%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">11-1962029</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.92%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other jurisdiction of incorporation or organization)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
  <p style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I.R.S Employer Identification Number</font></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.92%;">
  <p align="center" style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
  <p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
  <p align="center" style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;text-autospace:none;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.92%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">175 Capital Boulevard, Suite 103</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
  <p style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
  <p align="center" style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;text-autospace:none;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.92%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Rocky Hill, Connecticut</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
  <p style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">06067</font></b></p>
  </td>
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  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.92%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.18%;">
  <p style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
  <p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Registrant&#146;s telephone number, including area
code: (860) 257-0200</font></b></p>

<div style="border:none;border-bottom:double windowtext 9.0pt;padding:0in 0in 0in 0in;">

<p style="border:none;color:windowtext;margin:0in 0in .0001pt;padding:0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


<div style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
<!-- SEQ.=1,FOLIO='',FILE='C:\jms\vgurram\04-6595-1\task134077\6595-1-ba.htm',USER='vgram',CD='Jun  1 20:19 2004' -->
<br clear="all" style="page-break-before:always;">
</font>

<p align="center" style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;text-autospace:none;">&nbsp;</p>

<p style="color:black;margin:0in 0in .0001pt;text-autospace:none;"><font style="color:black;font-weight:bold;letter-spacing:0pt;text-decoration:none;text-shadow:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;text-decoration:none;">Item 5.&nbsp; OTHER
EVENTS AND REQUIRED FD DISCLOSURE</font></b></font></p>

<p style="color:black;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">On June 1,
2004, Axsys Technologies, Inc. announced an increase in guidance for 2004 and a
stock split.&#160; &nbsp;A copy of the <font style="color:black;font-weight:bold;letter-spacing:0pt;text-decoration:none;text-shadow:none;"><b><font color="black" style="color:windowtext;font-weight:normal;text-decoration:none;">press</font></b></font><b><font style="font-weight:bold;">  </font></b>release is attached as <font style="color:black;font-weight:bold;letter-spacing:0pt;text-decoration:none;text-shadow:none;"><b><font color="black" style="color:windowtext;font-weight:normal;text-decoration:none;">hereto as</font></b></font><font style="color:black;font-weight:bold;letter-spacing:0pt;text-decoration:none;text-shadow:none;"><b><font color="black" style="color:windowtext;text-decoration:none;">  </font></b></font>Exhibit <font style="color:black;font-weight:bold;letter-spacing:0pt;text-decoration:none;text-shadow:none;"><b><font color="black" style="color:windowtext;font-weight:normal;text-decoration:none;">99.1 and incorporated herein by
reference</font></b></font><font style="color:black;font-weight:bold;letter-spacing:0pt;text-decoration:none;text-shadow:none;"><b><font color="black" style="color:windowtext;text-decoration:none;">.</font></b></font></font></p>

<p style="color:black;margin:0in 0in .0001pt;text-autospace:none;text-indent:.5in;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-weight:bold;">Item
7.&nbsp; FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS</font></b></p>

<p style="color:black;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;"><font style="color:black;font-weight:bold;letter-spacing:0pt;text-decoration:none;text-shadow:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-weight:normal;text-decoration:none;">(c)</font></b></font>Exhibits</p>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:black;margin:0in 0in .0001pt .5in;text-autospace:none;"><font style="color:black;font-weight:bold;letter-spacing:0pt;text-decoration:none;text-shadow:none;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;font-weight:normal;text-decoration:none;">99.1&#160;&#160;&#160;&#160; Press Release dated June 1,
2004.</font></b></font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned, hereunto duly authorized.</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:&#160; June 1, 2004</font></p>

<p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
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  <td width="59%" valign="top" style="padding:0in .7pt 0in .7pt;width:59.42%;">
  <p style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="40%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:40.58%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AXSYS TECHNOLOGIES, INC.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="59%" valign="top" style="padding:0in .7pt 0in .7pt;width:59.42%;">
  <p style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="40%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:40.58%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant)</font></p>
  </td>
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  <td width="59%" valign="top" style="padding:0in .7pt 0in .7pt;width:59.42%;">
  <p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.9%;">
  <p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="36%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:36.7%;">
  <p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="59%" valign="top" style="padding:0in .7pt 0in .7pt;width:59.42%;">
  <p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.9%;">
  <p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="36%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:36.7%;">
  <p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="59%" valign="top" style="padding:0in .7pt 0in .7pt;width:59.42%;">
  <p style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.9%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="18%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:18.6%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ David A. Almeida</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0in .7pt 0in .7pt;width:18.08%;">
  <p style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="59%" valign="top" style="padding:0in .7pt 0in .7pt;width:59.42%;">
  <p style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.9%;">
  <p style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="36%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:36.7%;">
  <p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">David A. Almeida</font></p>
  </td>
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  <td width="59%" valign="top" style="padding:0in .7pt 0in .7pt;width:59.42%;">
  <p style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.9%;">
  <p style="color:windowtext;font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
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  <p style="color:windowtext;margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial Officer</font></p>
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  <p style="color:windowtext;font-size:10.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT 99.1</font></b></p>

<p style="margin:0in 0in .0001pt 5.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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  <p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">FOR IMMEDIATE RELEASE</font></u></b></p>
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  <td width="9%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:9.46%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
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  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.96%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
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  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="9%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:9.46%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.96%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="9%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:9.46%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="33%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:33.96%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contact:</font></p>
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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
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  <td width="9%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:9.46%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
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  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">David
  Almeida</font></p>
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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
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  <td width="9%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:9.46%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
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  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief
  Financial Officer</font></p>
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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="9%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:9.46%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
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  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axsys
  Technologies, Inc.</font></p>
  </td>
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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>
  </td>
  <td width="33%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:33.96%;">
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(860) 257-0200</font></p>
  </td>
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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="9%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:9.46%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="33%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:33.96%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">www.axsys.com</font></p>
  </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AXSYS TECHNOLOGIES ANNOUNCES AN INCREASE IN GUIDANCE FOR 2004
AND A STOCK DIVIDEND</font></b></p>

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<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ROCKY HILL, CONN. &#150; June 1, 2004 &#150; </font></b>Axsys
Technologies, Inc. (NASDAQ: AXYS), a fully integrated supplier of precision
optical assemblies and components used in a variety of high performance
commercial, aerospace and defense applications, announced that it is increasing
its 2004 financial guidance. On April 8, 2004, in conjunction with the
announcement of the acquisition of Telic, Axsys projected 2004 revenue growth
of 11% to 14% and operating income growth of 48% to 54%. Since then, business
has continued to be strong across all of our business segments. Backlog has
increased 15% in the first five months of the year to $78.9 million as of May
29, 2004. Based on continued positive trends, Axsys is now anticipating full
year revenue growth of 15% to 16% and operating income growth of 55% to 60% as
compared to the prior year.</p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Today, Axsys
Technologies has also announced that its Board of Directors has declared a
three-for-two stock split in the form of a 50% stock dividend payable on June
30, 2004 to stockholders of record on June 15, 2004. Stockholders will receive
a dividend of one additional share of Axsys Technologies, Inc. $0.01 par value
common stock for every two shares owned on the record date. Any fractional
shares that are created by the stock dividend will be converted to cash based
on the closing price of the Company&#146;s stock on the record date. As a result of
the stock dividend, the number of outstanding shares of common stock will be
increased from 4,663,109 to approximately 6,994,664 and earnings per share will
be retroactively restated for all previous periods.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stephen W. Bershad, Chairman and Chief
Executive Officer of Axsys, commented: &#147;Although it is still early, our
acquisition of Telic, with their broad infrared capabilities, is meeting our
expectations as we continue to focus the business on building and broadening
our optics capabilities. We are confident in our ability to execute our
business strategy and we believe this stock split is in the best interest of
our stockholders. We are committed to attracting additional investors and
believe that this stock split should enhance the liquidity of our stock and
make it more accessible to a broader range of investors.&#148;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-autospace:none;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axsys
Technologies Inc. is a fully integrated supplier of precision optical
assemblies and components used in a variety of high performance commercial and
aerospace/defense applications. For more information, contact Axsys
Technologies Inc., at www.axsys.com.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This press release contains
forward-looking statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended. One can identify these forward-looking
statements by the use of the words such as &#147;expect,&#148; &#147;anticipate,&#148; &#147;plan,&#148;
&#147;may,&#148;&#160; &#147;will,&#148; &#147;estimate&#148; or other
similar expressions. Because such statements apply to future events, they are
subject to risks and uncertainties that could cause the actual results to
differ materially. Important factors, which could cause actual results to
differ materially, are described in Axsys&#146; reports on Form 10-K and 10-Q on file
with the</font></p>

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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Securities and Exchange
Commission, including without limitation: the introduction of competing
products or technologies by other companies and/or pricing pressures from
competitors and/or customers, a reversal or slowdown of the modest economic
recovery presently being experienced in the United States, Axsys&#146; inability to
achieve synergies in connection with the acquisition, the incurrence of
unexpected costs in connection with the acquisition and other contingencies and
risks relating to the integration of Telic&#146;s operations and business.</font></p>

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