DURHAM, N.C., April 7, 2011 /PRNewswire/ -- EMRISE CORPORATION (OTCBB: EMRI), a multi-national manufacturer of defense, aerospace and industrial electronic devices and communications equipment, today announced that it has been awarded an order for approximately $1.6 million (1 million pounds Sterling) to manufacture custom radio frequency (RF) devices to be used in an international military program. The contract was awarded to one of the Company's Electronic Devices business units by a major international military systems integrator, which is a longstanding EMRISE customer.
Shipments of the custom RF devices are expected to begin in the fourth quarter of this year and be completed in 2013.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said this order is indicative of the increasing number of military program opportunities the Company is pursuing. Oliva also noted that in addition to the steady flow of smaller orders it has been receiving, this contract brings the total value of major contracts and orders announced in a little more than four months for products sold into the defense, aerospace and commercial markets to approximately $12.75 million, which further strengthens EMRISE's growing backlog.
"Our overall backlog continues to grow substantially, and we are very encouraged by the increasing strong order trends of the last several months," Oliva added. "Going forward, we believe we will continue to see an increase in the rate of new development contracts and follow-on orders for new and existing military programs, commercial applications, inflight entertainment and connectivity systems and a range of communications equipment including network access, and timing and synchronization systems."
EMRISE has longstanding relationships with its large international customer base and a track record of successfully delivering high quality, custom and proprietary, off-the-shelf communications equipment and electronic devices and subsystems for a broad range of demanding applications, all of which the Company believes will help drive increased business 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 and timing and synchronization of communications networks. The use of its network products in network timing and synchronization in edge networks is a primary growth driver for the Company's Communications Equipment business segment. The use of its power supplies, RF and microwave signal processing devices and subsystems in on-board in-flight entertainment and communications systems is a primary growth driver for the Company's Electronic Devices business segment. 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. EMRISE is a publicly traded company whose common stock trades on the OTCBB under the symbol EMRI. 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, 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 expectations that shipments of the custom power systems will begin in the fourth quarter of 2011 and be completed by 2013; the Company's overall backlog from continuing operations will continue to grow to record levels; there will be a continuing increase in the rate of new development contracts and follow-on orders it receives; or that the Company's longstanding customer relationships and successful track record will help drive increased business 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, 2010, its Current Reports on Form 8-K filed in recent months, and other EMRISE filings with the SEC.
SOURCE EMRISE Corporation