EMRISE RECEIVES $1.4 MILLION ELECTRONIC DEVICES ORDER FOR IN-FLIGHT ENTERTAINMENT AND CONNECTIVITY (IFE&C) SYSTEMS
DURHAM, NC – September 24, 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 $1.4 million order for electronic devices and subsystems to be used in multimedia In-Flight Entertainment and Connectivity (IFE&C) systems to be installed in commercial aircraft.
The order was received from a longstanding customer for its use in a well-established IFE&C program by the Company’s Pascall Electronics Ltd. subsidiary in England. The order is expected to begin shipping in the first quarter of 2015 with shipments expected to be completed by mid-2015.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said we believe this order further demonstrates the strength of the global IFE&C market and the opportunities we see for future business in the market.
“We believe a number of factors are driving the demand for new multimedia IFE&C systems,” Oliva added. “Air carriers worldwide continue to focus on upgrading their fleets of aircraft, which is driving the shipment of new aircraft and increasing the demand for IFE&C systems. Industry forecasts for future aircraft shipments by the major aircraft manufacturers continue to be strong. At the same time air carriers are also refurbishing newer aircraft in their fleets as they strive to create new revenue sources that improve a passenger’s air travel experience.”
Advanced IFE&C systems are now being installed in both short- and long-haul aircraft to deliver to the passenger seat a variety of multimedia entertainment features including satellite television and a number of communications features such as Broadband for access to Internet, e-mail and messaging services, and GSM for in-flight use of mobile phones where it is permitted.
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 first quarter of 2015 and be completed by mid-2015; and its beliefs that this order further demonstrates the strength of the global IFE&C market and the opportunities the Company sees for future business in the market; that air carriers worldwide continue to focus on upgrading their fleets of aircraft, which is driving the shipment of new aircraft and increasing the demand for IFE&C systems; that industry forecasts for future aircraft shipments by the major aircraft manufacturers continue to be strong; and that air carriers are also refurbishing newer aircraft in their fleets, 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