White Electronic Expects To Be Profitable For 3Q <WEDC
(BSNS WIRE) White Electronic Designs Finishes Third Quarter FY 2001 With $4
White Electronic Designs Finishes Third Quarter FY 2001 With $45.5 Million of
Backlog; Business Model Proves Effective
Business Editors
PHOENIX--(BUSINESS WIRE)--July 18, 2001--White Electronic Designs
Corporation (NASDAQ: WEDC) is pleased to announce that at the end of
the third quarter FY 2001 the Company's backlog of orders totaled
$45.5 million.
Of this amount $36.5 million is for Hi-Reliability Memory and
Display customers whose programs have already been funded.
Hamid Shokrgozar, Chairman and CEO of White said, "The third
quarter backlog with its substantially increased Hi-Rel and Display
components is very gratifying and reflects the success of our
diversified business model. We have successfully finished the third
quarter of fiscal year 2001 and we expect to be profitable", concluded
Mr. Shokrgozar.
White Electronic Designs Corporation supplies the wired and
wireless communications industry with niche semiconductor products
that support network systems, switches, base stations, and other
hardware platforms. The Company designs and manufactures innovative
solutions for three high technology sectors in military and commercial
markets; high-density memory products and multi-chip modules for data
communications and telecommunications providers; ruggedized
high-legibility flat panel display for commercial/military aircraft
and ordnance delivery systems; interface storage and retrieval
devices, and electromechanical assemblies for OEM's in commercial and
military markets. White is headquartered in Phoenix, Arizona, and has
design and manufacturing centers in Arizona, Massachusetts, Indiana,
and Oregon. To learn more about White Electronic Designs Corporation's
business, as well as employment opportunities, visit our website,
www.whiteedc.com. To learn more about White Electronic Designs'
subsidiary Panelview Incorporated, visit its website at
www.Panelview.com.
This news release may contain forward-looking statements usually
containing the words "believe", "expect" or similar expressions. These
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act. Future results of
operations, projections, and expectations, which may relate to this
release, involve certain risks and uncertainties that could cause
actual results to differ materially from the forward-looking
statements. Factors that would cause or contribute to such differences
include, but are not limited to, the factors detailed in the Company's
Annual Report on Form 10-K and in the Company's other Securities and
Exchange Commission filings.
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CONTACT: White Electronic Designs Corp., Phoenix
Hamid Shokrgozar, 602/437-1520
hamid@whiteedc.com
or
Cameron Associates, New York
Michael Brod, 212/245-8800
michael@cameronassoc.com
KEYWORD: ARIZONA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS NETWORKING
TELECOMMUNICATIONS
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