EMRISE CORPORATION COMMENTS ON STATUS OF NYSE ARCA LISTING
DURHAM, NC - November 10, 2010 - EMRISE CORPORATION (NYSE Arca: ERI), a multi-national manufacturer of defense, aerospace and industrial electronic devices and communications equipment, said today that the NYSE continues to monitor the Company's compliance with NYSE Arca's continued listing requirements for meeting the minimum balance sheet requirements for total net tangible assets of $500,000 and net worth of $2 million.
As announced on November 8, 2010, the Company will be releasing on November 15, 2010 its financial results for its third quarter and nine months ended September 30, 2010. EMRISE believes it will exceed both of the NYSE Arca requirements for total net tangible assets and minimum net worth by significant margins when it files with the Securities and Exchange Commission its consolidated financial statements on its Quarterly Report on Form 10-Q for the above mentioned periods, which is expected to occur on November 15, 2010.
The Company continues to be monitored by the NYSE Arca for share price compliance. The Company noted that its common stock has closed at or above $1.00 per share for 29 of the last 30 trading days.
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, the matters discussed in this press release including, without limitation, the Company's expectation that it will exceed both of the NYSE Arca's requirements for total net tangible assets and minimum net worth requirements by significant margins is a forward looking statement. The actual future results of EMRISE could differ from those statements. Other factors that could cause or contribute to such differences include, but are not limited to those factors contained in the "Risk Factors" Section of EMRISE's Form 10-K for the year ended December 31, 2009 and other EMRISE filings with the U.S. Securities and Exchange Commission.
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