EMRISE Corporation Receives $630,000 Custom Power Supply Order for U.S. Military Armored Vehicles
DURHAM, N.C., Nov. 21, 2011 /PRNewswire/ — EMRISE CORPORATION (OTCBB: EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, announced today that it has received a follow-on order valued at approximately $630,000 (394,000 pounds Sterling) from a large international customer for custom modular power supplies to be used in a long-running U.S. military armored vehicle program. Delivery of the order is expected to begin in early 2012.
The order was received by the Company’s Pascall Electronics Ltd. subsidiary, located in England. Pascall provides power systems, RF devices and integrated subsystems for a broad range of military and commercial aircraft and other land- and sea-based programs.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said, “Long term military projects, such as this one, continue to be strategic targets for EMRISE where our custom rugged power supplies have proven their performance and reliability. We have continued to invest in the design and technology of our power supply products, and those investments continue to pay dividends in the form of business for both new and existing military and commercial programs. EMRISE has built a solid reputation for providing a robust line of custom-built and standard power supply products that meet the stringent specifications required for use in rugged military applications.”
Oliva noted that over the last several years, EMRISE has built a successful on-going relationship with this international customer, and since its inception, the customer has purchased several million dollars in power supplies from the Company for this armored vehicle program.
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 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. EMRISE is a publicly traded company whose common stock trades on the OTCBB under the symbol EMRI. 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 to EMRISE’s ability to begin deliveries of the order early in 2012, are forward-looking statements that involve a number of risks and uncertainties. The actual future results of EMRISE Corporation could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, unforeseen technical issues, unexpected vendor or customer delays, unexpected changes in the economic, political or overall business climate, and a decline in military business in general or in EMRISE’s military business, in particular. The Company 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, 2010, its Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K filed in recent months, and other EMRISE filings with the SEC.
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SOURCE EMRISE Corporation