EMRISE Announces $350,000 Order For Custom-Built Power Supplies To Be Used In Military Application
DURHAM, N.C., Dec. 18, 2012 /PRNewswire/ -- EMRISE CORPORATION (OTCQB: EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced a $350,000 order for custom-built power supplies to be used in a military application. The order was secured from a longstanding customer and is expected to ship complete in 2013.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said the order is evidence of the ongoing strength of the Company's order flow for its products used in military applications. He also said the order is typical of the continuing flow of follow-on orders the Company frequently receives from its longstanding base of customers who are systems integrators that sell to the military. These customers often continue to build systems for their customers over the life of multi-year military programs.
"We are widely recognized as a top-flight supplier of custom-built products for use in demanding military and other hazardous-environment applications," Oliva added. "We have an excellent reputation for our ability to design and manufacture custom-built products that meet rigorous military specifications. These skills are not only required for success with the military, but are also key to our ability to serve a number of other important markets including In-Flight Entertainment and Connectivity. We expect orders for our products used in military applications and civilian aerospace applications will continue to be important drivers of our revenue growth going forward."
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; radio frequency (RF) and microwave signal processing; and network access to public and private communications networks. The use of its network products in public and private, legacy and latest Ethernet and Internet Protocol (IP) networks is a primary growth driver for the Company's Communications Equipment business units. The use of its power supplies, RF and microwave signal processing devices and subsystems in on-board In-Flight Entertainment and Connectivity systems is a primary growth driver for the Company's Electronic Devices business units. EMRISE serves the worldwide base of customers it has built in North America, Europe and Asia through operations in the United States, England and France. For more information on EMRISE, go to www.emrise.com.
EMRISE common stock trades under the symbol EMRI on OTCQB, the venture marketplace for companies that are current in their reporting with a U.S. regulator. Investors and other interested parties can find Real-Time quotes and market information for EMRISE at www.otcmarkets.com.
Real-Time Level 2 Quotes are also available on the Stock Quote Page of the Investor Relations section of EMRISE CORPORATION's web site at http://www.emrise.com/investor_relations/stock_quote/index.htm.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
With the exception of historical information, certain matters discussed in this press release are forward looking statements within the meaning of the Private Securities Litigation Reform Act including but not limited to the Company's expectations that the order will ship complete in 2013; that its ability to design and manufacture custom-built products that meet rigorous military specifications are skills required for success with the military and to serve other important markets including In-Flight Entertainment and Connectivity; and that orders for its products used in military applications and civilian aerospace applications will continue to be important drivers of the Company's revenue growth going forward. The actual future results of EMRISE could differ from those statements. The Company refers you to those factors contained in the "Risk Factors" Section of EMRISE's Annual Report on Form 10-K for the year ended December 31, 2011, as amended, Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K filed in recent months, and other EMRISE filings with the SEC.
SOURCE EMRISE Corporation