EMRISE RECEIVES $1.2 MILLION ORDER FOR ELECTRONIC DEVICES FOR USE IN MILITARY PROGRAM
DURHAM, NC – September 30, 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 $1.2 million order for custom electronic devices to be used in systems to be employed by a military organization. Delivery of the order is expected to begin in mid-2015.
EMRISE Chairman and Chief Executive Carmine T. Oliva noted that the order was received from a longstanding customer for use in an existing, long-term military program by the Company’s XCEL Power Systems, Ltd., subsidiary in England.
“This is the second large order for electronic devices to be used in a military application we have announced in the last two weeks,” Oliva said. “Together these two large orders have a combined total value of $3.3 million. The most recent order has further strengthened the growing backlog of our Electronic Devices segment, and is another indication of the increasing strength of our base military business.”
EMRISE’s Electronic Devices segment is focused on supplying custom and semi-custom electronic devices for a broad range of commercial applications, military programs 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 delivery of the order will begin in mid-2015; and its belief that the most recent order has further strengthened the growing backlog of the Company’s Electronic Devices segment, and is another indication of the increasing strength of its base military business 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.