EMRISE RECEIVES $8.4 MILLION ORDER FOR ELECTRONIC DEVICE SUBSYSTEMS FOR IN-FLIGHT ENTERTAINMENT AND CONNECTIVITY (IFE&C) SYSTEMS
DURHAM, NC – January 20, 2015 – EMRISE CORPORATION (OTCQB: EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced that it has received an $8.4 million production order for electronic device subsystems for In-Flight Entertainment and Connectivity (IFE&C) systems to be installed in commercial aircraft.
The production order, which is for an existing, established product, is expected to begin shipping in the fourth quarter of 2015 with shipments expected to be completed by the fourth quarter of 2017.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said, “We believe the order is not only indicative of the strength of our IFE&C business, but is another example of the continued expansion of the global IFE&C market opportunity for multi-year build-out programs for commercial airlines.”
Oliva also noted that this order has continued the trend of further increasing the size of the Company’s already large and growing Electronic Devices backlog of deliverable orders.
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 to public and private communications networks. The use of its network products in public and private, legacy and latest Ethernet and Internet Protocol (IP) networks is a primary growth driver for the Company's Communications Equipment business units. 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 units. 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. For more information on EMRISE, go to www.emrise.com.
EMRISE common stock trades under the symbol EMRI on OTCQB, the venture marketplace for companies that are current in their reporting with a U.S. regulator. Investors can find Real-Time quotes and market information for EMRISE at www.otcmarkets.com.
Safe Harbor Statement under Private Securities Litigation Reform Act of 1995
With the exception of historical information, certain matters discussed in this press release including, but not limited to, EMRISE’s expectation that shipments of the order will commence in the fourth quarter of 2015 and be completed by the fourth quarter of 2017; and its belief that the order is not only indicative of the strength of EMRISE’s IFE&C business, but it is another example of the continued expansion of the global IFE&C market opportunity for a multi-year build-out program for a commercial airline are all forward-looking statements involving risks and uncertainties. Actual future results of EMRISE could differ from those statements. EMRISE 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, 2013, its Quarterly Reports on Form 10-Q, Current Reports on Form 8-K filed recently, and other EMRISE SEC filings.