UPDATE: EMRISE Corporation Launches New Network Access Product
DURHAM, N.C., Aug. 21, 2012 /PRNewswire/ -- EMRISE CORPORATION (OTCBB: EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, announced today that it has launched a strategically important new network access product and received its first order for the product valued at approximately $360,000 (€290,000) from a large public utility in Europe. The prototype of this new product was delivered to this customer earlier in 2012 and EMRISE expects to begin deliveries of this production order for the new product in the fourth quarter of 2012.
The order was received by the Company's CXR Anderson Jacobson (CXR-AJ) subsidiary located in France. CXR-AJ develops and sells a wide range of communications equipment.
EMRISE Chief Executive Carmine T. Oliva said this order is a direct result of the Company's execution of its strategy to increase its penetration of the utilities markets in Europe and the United States. He also noted that management believes this particular order for a new customized network access product for a large European public utility is evidence of continuing strength in this important and growing market.
"This new network access product can readily be adapted to meet the specific needs of other public utilities in Europe and in North America," Oliva added. "And, it is because of its adaptability that we expect it will become a strategically important addition to our overall product range for the utilities market."The new network access product is based on a technology that is parallel to the Company's recently released CIP-All product that has been qualified by a dominant European telecommunications company and a major European-based international utility company for use in their enterprise network applications.
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