EMRISE CORPORATION Announces $370,000 Order For Network Access Equipment For Harsh Environments Continues Roll Out of New Products; Result of Focus on Strategically Important Utilities Markets
DURHAM, N.C., Dec. 5, 2012 /PRNewswire/ -- EMRISE CORPORATION (OTCQB: EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced a $370,000 order for a 3G/WiFi autonomous gateway product to be used in a harsh field environment in a new application by a large European electric utility. The order, which was secured from a longstanding customer, is expected to ship complete in the fourth quarter of 2012.
The new network access product ordered continues the roll out of new products by EMRISE in 2012 which has already included the Company's new CIP-All product that was introduced earlier this year and qualified by a major European telecommunications company and a major European international utility company for use in their respective enterprise network applications.
EMRISE Chief Executive Officer Carmine T. Oliva said this order is a direct result of the Company's focus on increasing its penetration of the growing utilities markets in Europe and the United States. He also noted that the network access products ordered are designed to meet the user's specific requirements to meet the harsh environmental conditions met in the field.
"A key characteristic of our new network access products is that they can be readily adapted to meet the specific needs of a variety of utilities in Europe and in North America," Oliva added. "It is because of their adaptability that we expect these new products will become a strategically important addition to our overall product range for the utilities markets and contribute to our revenue in these expanding markets 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 expectation that the order will ship complete in the fourth quarter of 2012; and that these new products will become a strategically important addition to the Company's overall product range for the utilities markets and contribute to its revenue in these expanding markets 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