EMRISE CORPORATION RECEIVES MORE THAN $1.7 MILLLON IN NEW ORDERS FOR RF
AND MICROWAVE DEVICES
Year-to-Date Orders Exceed Half of 2007 Total Shipments;
The US
Market is a Focus for Growth and a Potential Acquisition
RANCHO CUCAMONGA, CALIFORNIA, - February 27, 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 that orders
for radio frequency (RF) and microwave devices total more than $1.7
million, year-to-date, which already exceeds half of all our revenue in
2007 for these products. This higher level of bookings is expected to
continue and support much higher organic growth in 2008.
The Company’s UK-based subsidiary, Pascall Electronics Ltd, specializes
in military and harsh- environment power supplies and power conversion
products, in addition to RF and microwave devices. Pascall’s RF products
range from individual devices to sub-assemblies and turnkey products and
are sold to the European market.
EMRISE Chairman, President and CEO Carmine T. Oliva commented: “We
earlier indicated our intention to focus our business and acquisition
strategies on RF device companies located in the larger U.S. market, a
market that tends to mirror technological trends in Europe. We believe
these early 2008 orders for RF devices for European customers illustrate
the potential for our U.S. strategy to generate significant incremental
growth. As a result, we are seeking a prospective acquisition in the
U.S. that can transfer our successful U.K. technology and expertise to
the U.S. market. At present, only the European military market for RF
devices is open to us, since we have only a U.K. base of manufacturing.
RF devices are the only products that we build only in Europe and not in
the U.S. However, we have made solid progress in identifying and
qualifying U.S. acquisition opportunities that, if completed, would not
only open the U.S. military market for RF devices, but also represent
potential for significant revenue and net income accretion for our
shareholders.”
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; RF and microwave transmission; digital and rotary
switching; and network access, including timing and synchronization of
communications networks carrying wireline, wireless, and cable data,
voice, and video. Primary growth driver applications for EMRISE products
include commercial avionic “In-Flight Entertainment and Communications”
products and communications “Network Timing and Synchronization”
equipment. EMRISE serves customers in North America, Europe and Asia
through 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 Europe and Asia. 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, EMRISE’s ability to
deliver new or existing RF orders, ability to support higher organic
growth in 2008 compared to 2007, ability to successfully identify or
complete a U.S. acquisition in the RF device market, ability to
successfully integrate or leverage a U.S. RF business to expand the UK
technology and expertise in the U.S. market, and ability to ensure that
any acquisition, if completed, would be highly accretive to earnings 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 or installing such products by EMRISE, its vendors or its
customers, failure on the part of EMRISE’s customers to accept delivery
of such products according to expected timelines, lack of profitability,
inability to identify and/or successfully complete a U.S. acquisition in
the RF market, 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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