EMRI EMRISE Receives $1.2 Million in Orders for El
Post# of 94265
Posted On: 10/30/2013 8:51:58 AM
EMRI EMRISE Receives $1.2 Million in Orders for Electronic Devices for In-Flight Entertainment and Connectivity (IFE&C) Systems
EMRISE CORPORATION (OTCQB:EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced that it has received an aggregate of $1.2 million in orders from three customers for electronic devices for use in In-Flight Entertainment and Connectivity (IFE&C) systems to be installed in commercial aircraft. This group of orders includes a $500,000 order from its longest standing customer in the IFE&C market.
Ranging in size from $320,000 to $380,000 to $500,000, the three orders were received by the Company's Pascall Electronics Ltd. subsidiary in England. Shipments of the orders are expected to commence early next year and be completed by the end of 2014.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said the industry-wide demand for advanced IFE&C systems from domestic and international carriers continues to be strong. He noted that the Company continues to receive a steady stream of orders in a range of sizes for this expanding market, which is having a positive impact on the size of the Company's backlog.
The shipment of new aircraft and the refurbishment of existing aircraft combined with the need to create additional revenue sources that improve a passenger's air travel experience are driving the global airline industry's increasing demand for new multimedia IFE&C systems.
"We believe the demand for IFE&C systems is also being favorably impacted by industry forecasts for increases in future aircraft deliveries," Oliva added. "As a supplier to major OEMs that provide advanced IFE&C systems to airlines, we are benefiting from that demand."
About EMRISE Corporation
EMRISE designs, manufactures and markets electronic devices, sub-systems and equipment for aerospace, defense, industrial and communications markets. EMRISE electronic devices products perform key functions such as power supply and power conversion, and radio frequency (RF) and microwave signal processing. Its electronic devices and communications equipment products are used in a range of applications including on-board In-Flight Entertainment and Connectivity systems, and network access to public and private communications networks. EMRISE serves its base of customers in Europe, North America and Asia through operations in England, France and the United States. For more information, go to www.emrise.com.
EMRISE common stock trades under the symbol EMRI on OTCQB. Real-Time quotes and Level 2 information for EMRISE stock can be found at www.otcmarkets.com, or on the Company's website at http://www.emrise.com/investor_relations/stoc.../index.htm.
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 beliefs that shipments of the orders are to commence early next year and be completed by the end 2014; the industry-wide demand for advanced IFE&C systems from domestic and international carriers remains strong; the shipment of new aircraft and the refurbishment of existing aircraft combined with the need to create additional revenue sources that improve a passenger's air travel experience are driving the global airline industry's increasing demand for new multimedia IFE&C systems; this demand is also being favorably impacted by industry forecasts for increases in future aircraft deliveries; and as a supplier to major OEMs that provide advanced IFE&C systems to airlines, the Company continues to benefit from that demand, 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, 2012, its Quarterly Reports on Form 10-Q, Current Reports on Form 8-K filed recently, and other EMRISE SEC filings.
CONTACT: Allen & Caron Inc
Rene Caron or Jill Bertotti (investors)
Len Hall (media)
(949) 474-4300
rene@allencaron.com or jill@allencaron.com
len@allencaron.com
EMRISE CORPORATION (OTCQB:EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced that it has received an aggregate of $1.2 million in orders from three customers for electronic devices for use in In-Flight Entertainment and Connectivity (IFE&C) systems to be installed in commercial aircraft. This group of orders includes a $500,000 order from its longest standing customer in the IFE&C market.
Ranging in size from $320,000 to $380,000 to $500,000, the three orders were received by the Company's Pascall Electronics Ltd. subsidiary in England. Shipments of the orders are expected to commence early next year and be completed by the end of 2014.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said the industry-wide demand for advanced IFE&C systems from domestic and international carriers continues to be strong. He noted that the Company continues to receive a steady stream of orders in a range of sizes for this expanding market, which is having a positive impact on the size of the Company's backlog.
The shipment of new aircraft and the refurbishment of existing aircraft combined with the need to create additional revenue sources that improve a passenger's air travel experience are driving the global airline industry's increasing demand for new multimedia IFE&C systems.
"We believe the demand for IFE&C systems is also being favorably impacted by industry forecasts for increases in future aircraft deliveries," Oliva added. "As a supplier to major OEMs that provide advanced IFE&C systems to airlines, we are benefiting from that demand."
About EMRISE Corporation
EMRISE designs, manufactures and markets electronic devices, sub-systems and equipment for aerospace, defense, industrial and communications markets. EMRISE electronic devices products perform key functions such as power supply and power conversion, and radio frequency (RF) and microwave signal processing. Its electronic devices and communications equipment products are used in a range of applications including on-board In-Flight Entertainment and Connectivity systems, and network access to public and private communications networks. EMRISE serves its base of customers in Europe, North America and Asia through operations in England, France and the United States. For more information, go to www.emrise.com.
EMRISE common stock trades under the symbol EMRI on OTCQB. Real-Time quotes and Level 2 information for EMRISE stock can be found at www.otcmarkets.com, or on the Company's website at http://www.emrise.com/investor_relations/stoc.../index.htm.
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 beliefs that shipments of the orders are to commence early next year and be completed by the end 2014; the industry-wide demand for advanced IFE&C systems from domestic and international carriers remains strong; the shipment of new aircraft and the refurbishment of existing aircraft combined with the need to create additional revenue sources that improve a passenger's air travel experience are driving the global airline industry's increasing demand for new multimedia IFE&C systems; this demand is also being favorably impacted by industry forecasts for increases in future aircraft deliveries; and as a supplier to major OEMs that provide advanced IFE&C systems to airlines, the Company continues to benefit from that demand, 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, 2012, its Quarterly Reports on Form 10-Q, Current Reports on Form 8-K filed recently, and other EMRISE SEC filings.
CONTACT: Allen & Caron Inc
Rene Caron or Jill Bertotti (investors)
Len Hall (media)
(949) 474-4300
rene@allencaron.com or jill@allencaron.com
len@allencaron.com
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