|
EMRISE CORPORATION SELECTS ALLEN & CARON INC FOR INVESTOR RELATIONS AND CORPORATE COMMUNICATIONS RANCHO CUCAMONGA, CALIFORNIA, - January 10, 2008 - EMRISE CORPORATION (NYSE Arca: ERI), a multi-national manufacturer of defense, aerospace and industrial electronic devices and communications equipment, today announced it has selected Allen & Caron Inc as its agency for investor relations and corporate communications. Allen & Caron is headquartered in Irvine, CA, and has offices in New York and London. EMRISE Chairman, President and CEO Carmine T. Oliva said, “As we previously disclosed, the Company expects to report year-over-year improvements in revenue and bottom line performance for 2007 with a solid outlook for growth in revenue and net income in 2008. We also recently completed a $23 million debt financing, which allowed us to retire $6 million of current debt, providing an additional $7 million line of credit and gives us access to $10 million to help finance an acquisition. We believe, therefore, it’s time to generate higher and broader visibility in the investment community and the financial media with the goals of increasing the Company’s trading liquidity and valuation. After reviewing a number of agencies, we selected Allen & Caron, a firm with a solid reputation and history of success with those influential investor groups who can help us achieve our goals.” Teal Group, a Fairfax, VA-based aerospace and defense market analysis firm that provides competitive intelligence to industry and governments worldwide, has said that aerospace and defense companies’ revenues and profitability are increasing, with defense electronics companies producing the strongest growth. An IBM Institute study indicates that convergence of technology, networks, devices and content is offering telecommunications companies “a world of opportunities.” Allen & Caron President Rene Caron said, “EMRISE is well-positioned in segments of aerospace and defense electronic devices and communications equipment industries that are experiencing strong growth. EMRISE’s strategy for above-average growth and sustainable profitability create an interesting and compelling investment opportunity that will be the focus of our efforts going forward.” About Allen & Caron Allen & Caron is a full-service corporate, investor and marketing communications agency serving the needs of public companies. The Allen & Caron international client base includes emerging growth companies in a range of industry segments. The firm has offices in Irvine, California; New York City and London; maintains a presence in Paris; and has an affiliate relationship with a leading investor relations firm in Italy, which has offices in Milan and Rome. About EMRISE Corporation EMRISE designs, manufactures and markets electronic devices, systems and equipment for aerospace, defense, industrial and telecommunications markets. EMRISE products perform key functions such as power supply and power conversion; digital and rotary switching; RF and microwave transmission; network access and network timing and synchronization of communications networks; including voice, data and video. Primary growth driver applications for EMRISE products include commercial avionic “In-Flight Entertainment and Communications” systems and broad based communications “Network Timing and Synchronization”. EMRISE serves customers in North America, Europe and Asia through operations in the United States, England, France, and Japan. 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, statements regarding the future growth of EMRISE Corporation, the ability to achieve year-over-year improvements in revenue or bottom line performance for 2007, to achieve positive growth in revenue or net income in 2008, to sustain profitability in the future, the ability to find, complete or finance an acquisition, the ability of EMRISE Corporation to broaden its visibility with investors, the investment community and financial media are forward-looking statements that involve a number of risks and uncertainties. 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, the ability of EMRISE Corporation to achieve its business and financial objectives, conditions in the Company’s business and financial markets, future financial results, EMRISE Corporation’s ability to manufacture products to meet expected demand and existing and future orders, general market and economic conditions, changes in technology and governmental regulations and policies, competitive products and services, unforeseen technical issues, and factors contained in the “Risk Factors” Section of the Company’s Form 10-K for the year ended December 31, 2006, and other Company filings with the U.S. Securities and Exchange Commission.
|
