CARLSBAD, Calif.--(BUSINESS WIRE)--March 4, 1999--Photomatrix,
Inc. (Nasdaq:PHRX), a value added engineering, design and
manufacturing company, marketing its own product line of
high-performance document scanners, announced today that National
Metal Technologies (NMT), a wholly owned subsidiary, has been awarded
a $1,028,000 manufacturing contract by ILC Dover of Fredericka, Del.
ILC Dover is the leading supplier of Space Suits for the Apollo,
Skylab and Shuttle projects, along with a variety of other products to
the U.S. and European defense industry markets. NMT will supply 1.2
million voice emitters to ILC Dover over a two year period.
"We are very pleased that NMT has been selected to be a
continuing supplier, under this long term contract, to ILC Dover. They
are a premium customer and are important to our future growth plans,"
stated Patrick W. Moore, Chief Executive Officer. Moore continued,
"NMT's capabilities will allow us to expand our electronics
manufacturing growth as we aggressively enter the electronic enclosure
marketplace."
Additionally, NMT was awarded a $256,000 contract from Les
Technologies Ind., SNC Inc. of Quebec, the leading military products
supplier in Canada and the first $71,000 of an estimated $250,000
contract from Chip McCormick Inc., of Austin, Texas.
progressive die operations. Acquired by Photomatrix in December of
1998, it is housed in an 80,000 square foot facility in Oceanside,
Calif. NMT boasts a large quantity and array of metal stamping
capabilities, with one of the most extensive capabilities in the
Western United States. NMT is also a Federal Acquisition Regulation
(FAR) approved supplier, which allows it to directly supply the U.S.
military's prime contractors.
Photomatrix, Inc. is a value-added engineering, design and
manufacturing company specializing in high-performance document
scanners and aperture card scanners and digital imaging. Complete
company and product information can be found at the Company's web
site, which is located at www.photomatrix.com.
This press release contains forward-looking statements that
involve risks and uncertainties. These statements include, without
limitation, statements relating to the Company's plans and objectives
for future operations, assumptions and statements relating to the
Company's future economic performance, management's opinions about the
ability of the Company to compete successfully and other
non-historical information. The Company's actual results could differ
materially from those discussed herein. Factors that could cause or
contribute to such differences include, without limitation, those
risks discussed in Item 6 under the heading "Additional Risk Factors"
as well as those discussed elsewhere in the Company's Annual Report on
Form 10-KSB.
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CONTACT: Photomatrix Inc.
Roy Gayhart, 760/431-4999, ext. 329
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET PRODUCT
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