EMRISE CORPORATION RECEIVES $2 MILLION IN ORDERS FOR
IN FLIGHT
ENTERTAINMENT & COMMUNICATIONS (IFE&C) PRODUCTS
IFE&C Business Is Major Growth Driver; First Month’s
2008
Orders Exceed 50% of Last Year’s Total
RANCHO CUCAMONGA, CALIFORNIA, - February 4, 2008 - EMRISE CORPORATION
(NYSE Arca: ERI), a designer, manufacturer and marketer of proprietary
electronic devices and communications equipment for aerospace, defense,
industrial, and communications applications, today announced its U.K.
subsidiary Pascall Electronics L.t.d., has received approximately $2
million in new orders in January from two existing customers for next
generation In-Flight Entertainment and Communications (IFE&C) products.
These orders are scheduled for delivery by the end of the second
calendar quarter 2008.
“Next generation IFE&C business is a primary growth driver for EMRISE.
Our IFE&C growth is being driven by the installation of new next
generation IFE&C equipment by domestic and international carriers.
Applications for our IFE&C products are for new aircraft and retrofits
to aircraft already in service”, said Chairman, President and CEO
Carmine T. Oliva. He noted that, “these orders for $2 million of IFE&C
products follows $2 million of orders announced in mid-January for other
earlier generation IFE products.” (Reference EMRISE press release dated
01-15-08).
“Based on our customer’s increasing interest in our new next generation
IFE&C product line, we are confident that our 2008 revenue, in this
expanding market, will greatly surpass our 2007 IFE&C revenue,” Oliva
said. “January orders for this year already exceed 50% of our IFE&C
orders for all of last year. This business will be a major contributor
to our organic growth in 2008 and beyond.”
Oliva added, “We are working to complete an acquisition in the U.S. to
complement our U.K. based IFE&C business, which will further increase
our revenue and net income. As previously announced EMRISE recently
secured a $23 million debt financing (reference EMRISE press release
dated 12-5-07) of which $10 million is specifically available to finance
such an acquisition.”
About EMRISE Corporation
EMRISE Corporation designs, manufactures and markets proprietary
electronic devices and communications equipment for aerospace, defense,
industrial, and communications applications. EMRISE is focusing on such
growth areas as in-flight entertainment and communications (IFE&C), edge
network communications timing and synchronization and other network
access products. The Company’s products convert and supply power;
receive and process radio frequency (RF) and microwave signals; execute
switching controls; perform data, voice and video network access
communications; and provide network access, timing and synchronization.
EMRISE has 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 Asia and Europe.
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 new or existing IFE orders in the second quarter or throughout
2008, ability to surpass its 2007 IFE revenue, ability of next
generation IFE&C orders to be a major contributor to our organic growth
in 2008 and beyond, and its ability to complete an acquisition and its
optimistic outlook for IFE&C products are all forward-looking statements
that involve a number of risks and uncertainties. Actual future events
could differ from those statements due to uncertainties such as
unforeseen technical difficulties in manufacturing such products by
EMRISE, failure on the part of EMRISE’s customers to accept delivery of
such products according to expected timelines, failure of the commercial
airline industry to accept new IFE&C technology or failure to implement
such technology as rapidly as expected, failure of commercial carriers
to upgrade their fleets as expected or to make such upgrades at a slower
pace than is expected, lack of profitability, the inability for the
Company to successfully grow its IFE&C businesses, and other risks as
contained in the Company’s public statements and its periodic reports
and other filings with the Securities and Exchange Commission.
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