EMRISE Corporation Receives Additional $1 Million Order for Power Supplies for U.S. Military Armored Vehicles
Thu Nov 20, 9:32 AMRANCHO CUCAMONGA, CALIF--(BUSINESS WIRE)--EMRISE CORPORATION (NYSE Arca: ERI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced it has received an additional follow-on order from a large international customer for more than $1 million of modular power supplies to be used in a long-running strategic U.S. military armored vehicle program. This order provides for continuity of shipments for the program through 2009.
The order was received by the Company’s Pascall Electronics Ltd. subsidiary, located in England. Pascall provides power systems, RF devices and integrated subsystems for a broad range of military and commercial aircraft and other land- and sea-based programs.
EMRISE President and Chief Executive Officer Carmine T. Oliva said: “Long term military projects, such as this one, continue to be a strategic target for EMRISE where our rugged power supplies have proven their performance and reliability. We have had a successful ongoing relationship with this international customer over many years on a number of established programs. Production on this particular armored military vehicle program has been accelerated several times, already resulting in the need for our customer to place additional orders to ensure continuity of supply in upcoming years.” This order reflects our ongoing success in building long term customers in the military sector, which provides a base of continuing business, while allowing us to develop new customers in the higher growth commercial sector, such as In Flight Entertainment & Communications, which Pascall is heavily involved in also.
About EMRISE Corporation
EMRISE designs, manufactures and markets electronic devices, sub-systems and equipment for aerospace, defense, industrial and communications markets. EMRISE products perform key functions such as power supply and power conversion; RF and microwave transmission; digital and rotary switching; network access and timing and synchronization of communications networks. Primary growth driver applications for EMRISE products include commercial avionic “In-Flight Entertainment and Communications” products and communications “Network Timing and Synchronization” equipment. EMRISE serves customers in North America, Europe and Asia through operations in the United States, England, France and Japan. The Company has built a worldwide base of customers including all of the Fortune 100 in the U.S. that do business in markets served by EMRISE and many similar-size companies in Europe and Asia. For more information go to www.emrise.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
With the exception of historical information, the matters discussed in this press release, including without limitation EMRISE’s ability to deliver the specified order during 2009, ability to provide continuity on this program through 2009, ability to receive additional follow-on orders from this or other military programs, the ability to provide power supply products with proven performance and reliability, the ability to rely on the military sector to provide a base of continuing business, and the ability to develop new customers in the higher growth commercial sector, such as In Flight Entertainment & Communications are all forward-looking statements that involve a number of risks and uncertainties. The actual future results of EMRISE CORPORATION could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, unforeseen technical issues, unexpected vendor or customer delays, unexpected changes in the economic, political or overall business climate, a decline in military business in general or in EMRISE’s military business, in particular, failure to develop new customers in the commercial sector such as In Flights Entertainment & Communications and those factors contained in the “Risk Factors” Section of the Company’s Form 10-K for the year ended December 31, 2007, and other Company filings.
EMRISE Corporation
John Donovan
Vice President Finance and
Administration
909-987-9220 ext. 3201
JDonovan@emrise.com
or
Allen
& Caron Inc
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