DURHAM, N.C., April 2, 2012 /PRNewswire/ -- EMRISE CORPORATION (OTCBB: EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced that it has received a $1.2 million order for electronic devices and subsystems to be used in In-Flight Entertainment and Connectivity (IFE&C) systems to be installed in commercial aircraft. The order was received from a longstanding customer by the Company's Pascall Electronics Ltd. subsidiary in England and is expected to ship over a 12-month period starting in June 2012.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said in addition to this new order announced today, the Company expects to receive an increasing level of orders for products used in IFE&C systems in the coming months.
"In addition to increasing efficiency and reducing costs, airlines are seeking additional revenue sources that improve a passenger's travel experience and have a positive impact on the carrier's bottom line," Oliva said. "We believe the airline industry's need for additional sources of profitable revenue will continue to be a major factor behind the industry's increasing demand for new multimedia IFE&C systems. As a result, we believe the future outlook for our IFE&C business is strong and we expect it to be a significant driver of our revenue growth going forward."
Today's advanced IFE&C systems are now being installed in both new and existing short- and long-haul aircraft and they can deliver to the passenger seat a variety of multimedia entertainment features including pay-per-view satellite television and a number of communications features such as GSM for in-flight mobile phone use and Broadband for access to Internet, e-mail and messaging services.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 expectation that the order will ship over a 12-month period starting in June 2012; the Company will receive an increasing level of orders for products used in IFE&C systems in the coming months; airline industry demand for IFE&C systems is increasing; and that increase in demand will help increase demand for the IFE&C products provided by EMRISE. 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, 2012, as amended, Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K filed in recent months, and other EMRISE filings with the SEC. CONTACT: Allen & Caron Inc Rene Caron (investors) Len Hall (media)(949) 474-4300 firstname.lastname@example.org email@example.com SOURCE EMRISE Corporation
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts