ERI - .60
EMRISE Corporation Receives In-Flight Entertainment Order for Approximately $1.8 Million
Thursday April 24, 8:45 am ET
2008 Orders for In-Flight Entertainment Devices Nearly 57% of Total 2007 Orders in Only 30% of the Time
RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--EMRISE CORPORATION (NYSE ARCA:ERI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced it has received orders valued at approximately $1.8 million from a single, long-time customer for In-Flight Entertainment (IFE) electronic devices. Deliveries are expected to be completed in 12 months
EMRISE Chairman, President and CEO, Carmine T. Oliva said that the orders bring the company’s year-to-date bookings in 2008 for IFE devices to more than $4 million, or approximately 57 percent of total 2007 bookings after less than four months of the year. The orders were secured by the company’s Pascall Electronics Ltd. subsidiary, located in England, and are for electronic devices for traditional IFE systems.
“These new orders are indicative of the strength of the business we are receiving in 2008 from established customers for traditional IFE electronic devices,” Oliva added. “This is very encouraging, especially when you combine the strength of the IFE business with our 2008 bookings for new In-Flight Entertainment and Communications (IFE&C) sub-system assemblies for seat back-mounted systems. Year-to-date orders in 2008 for these sub-system assemblies have already surpassed this year’s orders for IFE electronic devices, and going forward orders for these much higher value IFE&C sub-system assemblies, especially orders from new customers, will be one of our primary growth drivers.
“We now have a total of five IFE and two IFE&C customers and we are in discussions with other large U.S. and European-based customers as we continue to work closely with our customers as they continue to develop the functionality of their systems.” Oliva concluded, “Our visibility of potential programs we know are pending with our seven existing customers, leads us to believe that mid-year 2008 bookings could exceed all of 2007 bookings.”
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; RF and microwave transmission; digital and rotary switching; network access and timing and synchronization of communications networks. Primary growth driver applications for EMRISE products include commercial avionic “In-Flight Entertainment and Communications” products and communications “Network Timing and Synchronization” equipment. EMRISE serves customers in North America, Europe and Asia through operations in the United States, England, France and Japan. The Company has built a worldwide base of customers including all of the Fortune 100 in the U.S. that do business in markets served by EMRISE and many similar-size companies in Europe and Asia. For more information go to www.emrise.com |
