Emrise Receives $1.0 Million Order for Radio Frequency Systems for Commercial Marine Application
DURHAM, Apr 16, 2013 (GLOBE NEWSWIRE via COMTEX) --
EMRISE CORPORATION (OTCQB:EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced that it has received a $1.0 million order for radio frequency (RF) systems from a major international marine services supplier of electronic systems for identifying and marking marine shipping channels and marine hazards. Deliveries against the order are expected to begin in late 2013 and continue through 2014.
The order was received from a longstanding customer by the Company's Pascall Electronics Ltd. subsidiary in England. Pascall provides power systems, RF devices and integrated systems and subsystems for a broad range of military and commercial aircraft and other land- and sea-based programs.
EMRISE Chairman and Chief Executive Carmine T. Oliva said that orders for the Company's electronic devices for use in commercial land and marine applications have long resulted in important additions to sales in the Company's Electronic Devices segment.
"These types of commercial orders are complementary to our core business of supplying custom and semi-custom electronic devices for a broad range of air-, land- and sea-based military applications and for a number of important commercial aerospace applications such as In-Flight Entertainment and Connectivity systems," Oliva added. He also said these types of commercial orders help increase production volumes, which could have a positive impact on manufacturing efficiency and gross margins.
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 deliveries against the order will begin in late 2013 and continue through 2014; and that these types of commercial orders help increase product volumes, which could have a positive impact on manufacturing efficiency and gross margins are 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, 2012, its Quarterly Reports on Form 10-Q, Current Reports on Form 8-K filed recently, and other EMRISE SEC filings.
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