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RANCHO CUCAMONGA, CALIFORNIA, May 21, 2008 - EMRISE CORPORATION (NYSE
Arca: ERI), a multi-national manufacturer of defense and aerospace
electronic devices and communications equipment, today announced that it
has received a $700,000 follow on production order for electronic
sub-assemblies from an existing international customer for use in a
harsh environment offshore drilling application. Shipments against this
order are expected to be completed in 2008.
The Company expects additional orders for delivery this year and a
continuing flow of orders at the rate of approximately $1 million per
year for the duration of the multi-year program. The order was received
by EMRISE’s Xcel Power Systems, Ltd (Xcel) subsidiary, located in the
U.K.
EMRISE Chairman, President and CEO Carmine Oliva said: “This order is
further evidence of the success of our strategy to diversify and offer
products for harsh environment commercial applications, which leverage
our military expertise. This customer is a market-leading international
company with whom we have developed an excellent long-term relationship.
Our performance, quality and our “Lean Manufacturing” approach has
enabled us to be responsive to the rigorous requirements of the
exploration equipment market and still deliver a competitive and cost
effective product.”
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; network access and
timing and synchronization of communications networks. 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 obtain additional orders in 2008 or beyond for this
or any other harsh-environment applications, ability to ship the orders
referenced in this press release during 2008, the ability to obtain
future orders associated with this program at the rate of approximately
$1M per year throughout the duration of the multi-year program, the
ability to leverage military expertise to other harsh environment
applications, and the ability to deliver a competitive and cost
effective product are all forward-looking statements that involve a
number of risks and uncertainties. The 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,
unforeseen technical issues, unforeseen changes in demand from our this
or other customers, quality issues, unforeseen delays from suppliers of
raw materials, unforeseen delays during the production processes and/or
customer delays, changes in political and/or economic factors,
production inefficiencies, and those factors contained in the “Risk
Factors” Section of the Company’s Form 10-K for the year ended December
31, 2007, and other filings with the U.S. Securities and Exchange
Commission.
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