EMRISE CORPORATION SEES FURTHER GROWTH IN EUROPEAN UTILITY MARKET WITH ADDITIONAL SALES OF $1 MILLION OF COMMUNICATIONS EQUIPMENT
Result of Company's Strategy to Increase Penetration of Utility Markets
DURHAM, NC - January 25, 2012...EMRISE CORPORATION (OTCBB: EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, announced today that it has sold $1 million (€800,000) of communications equipment to an existing, key European utility customer. Approximately one half of the communications equipment sold was shipped late in 2011 with the balance of the equipment to be shipped in the first quarter of 2012.
The communications equipment was sold by the Company's CXR Anderson Jacobson (CXR-AJ) subsidiary located in France. CXR-AJ provides a wide range of communications equipment including products sourced from EMRISE's CXR-Larus subsidiary located in San Jose, CA.
EMRISE Chief Executive Carmine T. Oliva said this sale to a major European utility is the result of the Company's strategy to increase its penetration of the utility markets. "We are especially pleased with this particular communications equipment sale as it is evidence of continuing strength in the utility market, which is a major focus of our Communications Equipment business segment in both Europe and the United States," Oliva added.
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; radio frequency (RF) and microwave signal processing; and network access and timing and synchronization of communications networks. The use of its power supplies, RF and microwave signal processing devices and subsystems in on-board in-flight entertainment and connectivity systems is a primary growth driver for the Company's Electronic Devices business segment. The Company's network access and timing and synchronization products are primary growth drivers for the Company's Communications Equipment business segment. EMRISE serves the worldwide base of customers it has built in North America, Europe and Asia through operations in the United States, England and France. EMRISE is a publicly traded company whose common stock trades on the OTCBB under the symbol EMRI. 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 complete shipment in the first quarter of 2012 of the balance of the equipment sold and the Company's ability to increase its penetration of the utility markets, are 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, unexpected vendor or customer delays, and unexpected changes in the economic, political or overall business climate. The Company also refers you to those factors contained in the "Risk Factors" Section of EMRISE's Annual Report on Form 10-K for the year ended December 31, 2010, its Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K filed in recent months, and other EMRISE filings with the SEC.
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