EMRISE ANNOUNCES $2.1 MILLION ORDER FOR ELECTRONIC DEVICES
DURHAM, NC – September 16, 2014 – EMRISE CORPORATION (OTCQB: EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced that it has received a $2.1 million order for electronic devices to be used in a major new military program.
EMRISE Chairman and Chief Executive Carmine T. Oliva said the Company recently completed the design phase for the custom electronic devices that have been ordered for this new military program. Production and delivery of these custom electronic devices is expected to begin in 2016 and continue throughout 2017.
“This large order stems from just one of a number of major development programs for the military we are undertaking from which we would expect to receive production orders in the near term. ” Oliva added. “The order is an important addition to the growing backlog of our Electronic Devices segment, and it demonstrates the strength of our base military business.”
The Company’s core Electronic Devices business is focused on supplying custom and semi-custom electronic devices for a broad range of military programs, commercial applications and such important civilian aerospace applications as In-Flight Entertainment and Connectivity systems.
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 belief that production and deliveries are expected to begin in 2016 and continue throughout 2017; it would expect to receive production orders in the near term from a number of major development programs for the military the Company is undertaking; and its belief that these orders demonstrate the strength of the Company’s base military business, and are important additions to the growing backlog of its Electronic Devices segment 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.