EMRISE TIMING AND SYNCHRONIZATION PRODUCT SELECTED BY MAJOR TELECOMMUNICATIONS OEM FOR INCLUSION IN NEW SWITCH PRODUCT LINE
Positions Company to Participate in Growing Segment of Communications Market;
Expands Market Reach into Latin America, Other Emerging Global Markets
DURHAM, NC - October 14, 2010 - EMRISE CORPORATION (NYSE Arca: ERI), a multi-national manufacturer of defense, aerospace and industrial electronic devices and communications equipment, today announced that one of the world's leading telecommunications manufacturers has incorporated an EMRISE network timing and synchronization product into a new communications switch product line for sale in Latin America and other emerging global markets. The Company received an initial order of $275,000 for the network timing and synchronization products that was shipped late in this year's third quarter, and it expects to begin receiving follow-on orders under the multi-year agreement in the fourth quarter of this year.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said management believes the agreement positions the Company to participate in a growing segment of the communications market, expand its reach into Latin America and other emerging global markets and generate significant revenue going forward.
The multi-year agreement with the telecommunications manufacturer was received by the Company's San Jose, CA-based CXR Larus Corporation subsidiary, which develops and supplies communications equipment, including network timing and synchronization products and other network access equipment for both public and private networks.
"This is an important win for us as we believe it further validates our network timing and synchronization technology and products and gives us access to expanding global markets that are best reached through a relationship with a world leader in telecommunications," Oliva added. "We also believe it is an indication of the success we are beginning to have in pursuing our strategy to capitalize on the strengths of our network timing and synchronization technology and product line to establish the types of strategic relationships that can expand our market reach, increase revenues and enhance stockholder value."
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 network products in network timing and synchronization in edge networks is a primary growth driver for the Company's Communications Equipment business segment. The use of its power supplies, RF and microwave signal processing devices and subsystems in on-board in-flight entertainment and communications systems is a primary growth driver for the Company's Electronic Devices business segment. EMRISE serves customers in North America, Europe and Asia through operations in the United States, England and France. The Company has built a worldwide base of customers throughout the U.S., 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, certain matters discussed in this press release are forward looking statements within the meaning of the Private Securities Litigation Reform Act, including but not limited to the Company's expectation of receiving follow-on orders beginning in the fourth quarter of this year, its belief that the agreement positions the Company to participate in a growing segment of the communications market, expand its market reach into Latin America and other emerging global markets, generate significant revenues and enhance stockholder value. The actual future results of EMRISE could differ from those statements. The Company 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, 2009, as amended, Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2010, its Current Reports on Form 8-K filed in recent months, and other EMRISE filings with the SEC.
|
