Press Releases
EF Johnson Technologies, Inc. Receives $2.4 Million In Funding Increments From The Department Of Defense
IRVING, Texas, April 1 /PRNewswire-FirstCall/ -- EF Johnson Technologies, Inc. (Nasdaq: EFJI) announced today that its 3e Technologies International, Inc. (3eTI) subsidiary has received additional incremental funding totaling $2.4 million under two U.S. Navy contracts. The first funding increment is valued at $1.6 million and is under the $48 million contract announced by the Company in October 2008 to provide the Navy with its virtual perimeter monitoring system (VPMS). The second funding increment is valued at $.8 million and is under the $4.8 million contract, with four options valued up to $21 million, announced by the Company in November 2009 to provide the Navy with its FIPS 140-2 Validated™ secure wireless sensor solution.
"We are committed to providing secure wireless solutions to our armed forces, and receipt of additional funding further proves this commitment," said Michael Jalbert, president and chief executive officer of EF Johnson Technologies, Inc. "We look forward to continuing our support of the Navy through our VPMS and wireless sensor solutions that monitor and assist in the protection of Navy personnel and property." About EF Johnson Technologies, Inc. Headquartered in Irving, Texas, EF Johnson Technologies, Inc. focuses on innovating, developing and marketing the highest quality secure communications solutions to organizations whose mission is to protect and save lives. The Company's customers include first responders in public safety and public service, the federal government, and industrial organizations. The Company's products are marketed under the EFJohnson, 3e Technologies International, and Transcrypt International names and are Made in America. For more information, visit http://www.EFJohnsonTechnologies.com. Safe Harbor Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward-looking statements due to a number of risk factors including, but not limited to, our ability to repay our bank debt when due, continued access to bank lines of credit, the timing and receipt of orders, the level of demand for the Company's products and services, dependence on continued funding of governmental agency programs, reliance on contract manufacturers, the timely procurement of necessary manufacturing components, software feature development and the implementation of application software, successful integration of the system components, general economic and business conditions, and other risks detailed in the Company's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the period ended December 31, 2009 and in the Company's subsequent filings with the SEC. These forward-looking statements are made as of the date of this press release and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements. SOURCE EF Johnson Technologies, Inc.TheStreet Premium Services
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