EGLW, trading around 2.00 this am, is another wireless play that I think looks promising. This release today:
Eagle Wireless Selects Pilot Sites for $12.6 Million
Purchase Order
HOUSTON--(BUSINESS WIRE)--May 10, 1999--Eagle Wireless International, Inc.
(OTC BB:EGLW) announced today that 12 pilot sites have been selected in two Houston
neighborhoods for the installation and evaluation of Eagle's wireless security backup systems. Once the pilot program is
complete, shipments against a three year $12.6 million dollar purchase order from Utility Automation for security backup
systems and wireless water meters are scheduled to begin.
Eagle President and CEO Dr. H. Dean Cubley said, ''We are excited about the opportunities that lie ahead for Eagle in the
wireless security market as well as the wireless meter reading industry. The Utility Automation project in Houston is only one of
several such opportunities throughout the U.S. that we are pursuing to help with the diversification and expansion of Eagle's
proprietary product offerings.''
The Company's wireless communication backup for home security systems provides a secondary signal from a monitored alarm
system to alert the central station that an alarm has been tripped. This provides early notification in the event a phone line is
down, cut, or unavailable. The backup system is compatible with the most popular home security systems such as those sold by
Ademco, a subsidiary of Pittway Corporation (NYSE:PRY - news) and Honeywell Inc. (NYSE:HON - news).
Eagle's wireless water and electric meters provide utility companies with a cost effective method of measuring and collecting
consumption information without having to manually read individual utility meters. The deregulation of the electric utility industry
in Texas and across the nation is expected to increase demand for wireless power meters. There are over 4.1 million customers
alone served by Reliant Energy (NYSE:REI - news) in Houston and Texas Utilities Company (NYSE:TXU - news) in the
Dallas / Fort Worth area that could benefit from this technology.
Utility Automation, Inc. is a supplier of information management solutions to the public and private utility industries. The
company is headquartered in Houston, Texas.
Eagle Wireless International, Inc. is a leading supplier of telecommunications equipment to the paging, specialized mobile radio
(SMR), one and two-way wireless messaging, remote data acquisition, and Internet access markets. The Company is
headquartered in Houston, Texas.
Forward-looking statements in this release are made pursuant to the ''safe harbor'' provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties,
including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products
and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks
detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
For additional updates, see www.otcfn.com/eglw and www.eglw.com.
Contact:
Eagle Wireless International
Scott A. Cubley, Investor Relations
(800) 628-3910 / (281) 280-0488
scubley@eglw.com
or
OTC Financial Network
Mario "Ike" Iacoviello, Investor Relations
(800) 649-0983 / (760) 931-9211
ike@otcfn.com |
