EMRISE RECEIVES PRODUCTION ORDERS FOR $1.6 MILLION IN POWER SYSTEMS FOR IN-FLIGHT ENTERTAINMENT AND CONNECTIVITY SYSTEMS
EATONTOWN, NJ - May 13, 2010 - EMRISE CORPORATION (NYSE Arca: ERI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced that it has received multi-year production orders valued at $1.6 million for power supplies to be used in In-Flight Entertainment (IFE) systems. The products, which were ordered by two longstanding EMRISE customers, will be used for retrofitting existing aircraft with new IFE systems.
These production orders were received by the Company's Pascall Electronics Ltd. subsidiary located in England, and shipments of the orders are expected to begin in this year's second quarter with more than half of the orders planned for delivery throughout 2010. Shipments of the balance of the orders are scheduled to continue throughout 2011 with final shipments expected to be completed in late 2011.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said, "Orders for new twin and single aisle aircraft continue to be negatively impacted by the world economy. However, with the large base of proven IFE systems in service that have been using our products for many years, we believe that we will continue to receive orders for power supplies and RF devices for use in a combination of new build and retrofit systems and as spare parts used in the repair, maintenance and support of IFE systems."
About Pascall Electronics Ltd.
Pascall provides a range of power systems, RF devices and integrated subsystems for a number of commercial aerospace and defense applications, including IFE and multimedia In-Flight Entertainment and Connectivity (IFE&C) 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 and timing and synchronization of communications networks. Primary growth driver applications for EMRISE products include the use of its RF devices in radio-controlled improvised explosive device (RCIED) jamming systems, and the use of its Network Timing and Synchronization products in edge networks. EMRISE serves customers in North America, Europe and Asia through operations in the United States, England and France. The Company has built a worldwide base of customers including a majority of the Fortune 100 in the U.S. that do business in markets served by EMRISE and many similar-size companies in Europe and Asia. 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 EMRISE's ability to begin shipping this order begin in this year's second quarter, ship more than half of the orders throughout 2010 and the balance of the orders by late 2011 and ability to continue to receive orders for power supplies and RF devices are all 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, unforeseen changes in customer demand, unforeseen delays in receipt of materials from the Company's vendors, inability of EMRISE's products to meet customer specifications, changes in the economic, industry or political climate that may negatively impact demand for EMRISE's future products, failure to ship the products described in this release in the timeframes indicated, and those factors contained in the "Risk Factors" Section of the Company's Form 10-K for the year ended December 31, 2009 and other EMRISE filings with the Securities and Exchange Commission.
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