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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; 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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