I'll bet we see that DLJ picked up 100k shares shortly.
Looks to me like MFS found a company to solve the EZ Pass software issues. I called STIZ and was given the impression that they were the sources of the problems with the software. But now it sounds like its working. Would like to see an announcement by Able in that regard.
Scientific Technologies Inc. Announces Its Largest Order; Scientific Technologies Vehicle Scanner Technology to Be Used in the EZ Pass Program
FREMONT, Calif.--(BUSINESS WIRE)--Feb. 10, 1999--Scientific Technologies Inc. (Nasdaq:STIZ) today announced that MFS Transportation Systems has awarded to Scientific Technologies Inc. (STI) a contract totaling approximately $3.5 million for Vehicle Scanner systems.
The equipment will be used in the EZ Pass program, an electronic toll collection (ETC) system that automatically classifies vehicles and electronically deducts the toll from the user's account. The system is to be installed on tollways for a consortium
consisting of the New Jersey Highway Authority, the New Jersey Turnpike Authority and the Delaware Department of Transportation. STI was chosen following an aggressive bidding proposal process and was selected because of its performance under adverse environmental and weather conditions.
STI's Vehicle Scanner is used in two applications: automatic vehicle classification (AVC) and vehicle separation. The Vehicle Scanner employed in the AVC application will be a customized STI product used to profile the vehicles as they pass through a toll lane. The AVC software interprets the profile to determine the correct vehicle classification. Standard STI Vehicle Scanners used in the separation applications determine the presence of and verifies the separation between vehicles to trigger the toll collection. The equipment under STI's contract is scheduled for installation in the second and third quarters of 1999.
The STI Vehicle Scanner utilizes harmless infrared light technology as a means to detect and profile the vehicles moving through the toll lanes. STI, with over 1000 installations in the US and internationally, is the leading US supplier of infrared based scanners for ETC systems, and has been serving this market since 1994. The company intends to leverage its vehicle scanner technology to address additional applications in the transportation markets, as well as new markets, where infrared sensing capabilities are required.
Scientific Technologies Inc. designs, manufactures and distributes electrical and electronic industrial controls. The company's products include safety light guards, profiling scanners, vehicle scanners, factory automation sensors, controls, fiber optics, safety mats and other electronic devices supplied to industrial automation, transportation and defense customers.
CONTACT:
Scientific Technologies Inc.
Richard O. Faria, 510/608-3410
www.sti.com |
