Brings Total Value of Orders Announced in Last Month to $2.7 Million; Airline Industry Demand for IFE&C Systems Continues to be Strong
DURHAM, N.C., May 8, 2013 (GLOBE NEWSWIRE) -- EMRISE CORPORATION (OTCBB:EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced that it has received a $1.5 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, which was received from a longstanding customer by the Company's Pascall Electronics Ltd. subsidiary in England, is expected to begin shipping in the fourth quarter of this year with shipments expected to be completed by the end of 2014.EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said this order and the $1.2 million order for electronic devices used in IFE&C systems announced in mid-March of this year are strong indicators of the continuing strength of this growing market. "Increases in 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," Oliva added. "As a leading supplier of electronic devices and subsystems to the major OEMs that provide airlines throughout the world with advanced IFE&C systems, we continue to be a beneficiary of that demand." 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 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 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/stock_quote/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 expectation that shipments of the order are to commence in the fourth quarter of 2013 and continue through 2014; and its belief that the industry-wide demand for advanced IFE&C systems from domestic and international carriers remains strong, 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.
CONTACT: Allen & Caron Inc Rene Caron or Jill Bertotti (investors) Len Hall (media) (949) 474-4300 firstname.lastname@example.org or email@example.com firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV