EMRISE RECEIVES $750,000 FOLLOW-ON ORDER FOR CUSTOM POWER SYSTEMS USED IN INTERNATIONAL MILITARY AVIATION PROGRAMS
Brings Total of Company's Recently Announced Orders to Approximately $5.8 Million;
Strengthens Growing Backlog
DURHAM, NC - December 20, 2010 - EMRISE CORPORATION (NYSE Arca: ERI), a multi-national manufacturer of defense, aerospace and industrial electronic devices and communications equipment, today announced that it has received $750,000 in follow-on orders for custom power systems to be used in two international military aviation programs. The orders were received by Company's U.K. subsidiaries from a major European-based, military systems integrator. Shipment of the units ordered is expected to begin and be completed in the latter half of 2011.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said these orders are part of an existing multi-million dollar program, and he expects additional follow-on orders in the last half of next year. These orders bring the total value of orders recently received for products supplied by both its Electronic Devices and Communications business units to approximately $5.8 million, further strengthening the Company's growing backlog, he added.
"This and the other recently received orders for commercial and military products and systems are a clear indication of the encouraging order trends we are experiencing in each of our business units," Oliva added. "We expect to exit 2010 with a very strong overall backlog from continuing operations that includes orders for military and commercial power systems, inflight entertainment and connectivity systems and a range of communications equipment including network access, and timing and synchronization systems. By year end our Electronic Devices backlog should be up significantly from this year's third quarter and the Communications Equipment backlog will be at an all-time high.
"We believe the recent upsurge in orders is an example of economic recoveries in certain industries we serve, the benefits of the Company's longstanding relationships with our world-class customer base and the value of our experience in successfully designing, manufacturing and delivering high quality, custom and off-the-shelf communications equipment and electronic devices and subsystems for a broad range of demanding military and commercial applications," Oliva said.
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 connectivity (IFE&C) systems is a primary growth driver for the Company's Electronic Devices 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. 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 expectation that shipment of the units ordered will begin and be completed in the latter half of 2011, follow-on orders will be received in the last half of next year or that the Company will exit 2010 with a very strong backlog from continuing operations or by year end its Electronic Devices backlog should be up significantly from this year's third quarter and the Communications Equipment backlog will be at an all-time high. 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.
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