EMRISE Receives Final Documentation for Euro 1.2 Million ($1.7 Million) Communications Equipment Order for Network in French-Speaking North Africa
DURHAM, N.C., Sept. 12, 2011 /PRNewswire/ — EMRISE CORPORATION (OTCBB: EMRI), a multi-national manufacturer of defense, aerospace and industrial electronic devices and communications equipment, today announced it has received final documentation for a Communications Equipment order valued at approximately euro 1.2 million ($1.7 million) for the manufacture and delivery of fiber-optic modems to be used in a communications network in French-speaking North Africa. The order was received by EMRISE’s Communications Equipment subsidiary in Europe. With the recent receipt of the final documentation, the order is expected to be shipped to the customer within the next 30 to 45 days.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said “We believe this order could be an early sign that the Company’s prospects for a rebound in future business in French-speaking North Africa are beginning to improve, especially as greater political stability in the region returns.
“We have always maintained a competitive advantage in French-speaking North Africa,” Oliva added. “Our French Communications Equipment subsidiary has an excellent product line and because it has sold equipment into that region for years, it has accumulated a great deal of knowledge about local customs, requirements and business practices. Because most of the communications networks installed in French-speaking North Africa are supported by the French government, our presence in France and successful track record and experience in that region have served us well over the years.”
Oliva also confirmed that EMRISE expects to be profitable for this year’s fourth quarter and to meet its previously announced revenue goal of between $33 million and $35 million for 2011.
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, 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 Company’s expectations that shipment of the order will occur within the next 30 to 45 days; EMRISE’s prospects for a rebound in future business in French-speaking North Africa are beginning to improve, especially as greater political stability in the region returns; and that the Company will be profitable for this year’s fourth quarter and meet its previously announced revenue goal for 2011. 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, 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