Microwave Power Devices, Inc. Awarded A $1.2 Million Follow-On Amplifier Order With QUALCOMM
HAUPPAUGE, N.Y., March 10 /PRNewswire/ -- Microwave Power Devices, Inc. (Nasdaq: MPDI - news) today announced that it has been awarded a $1.2 million follow- on order to supply higher linear, single channel, cellular Code Division Multiple Access (''CDMA'') amplifiers to QUALCOMM Incorporated (Nasdaq: QCOM - news). The order specifies that Microwave Power Devices will supply these amplifiers for use in QUALCOMM's cellular QCell(TM) CDMA base stations. It is anticipated that these base stations will be utilized to upgrade existing cellular infrastructure from analog to digital while also supporting wireless local loop applications, worldwide. The order will commence immediately and shipments are anticipated to be completed during the second quarter of 1998.
Edward J. Shubel, President and Chief Executive Officer, commented, ''Our relationship with QUALCOMM, the developer of CDMA technology, continues to advance and mature. This order represents the second production release issued for our amplifiers.''
With the receipt of this order, the Company's backlog totals approximately $83 million. Approximately 46% of this backlog is for commercial products which involves higher volume manufacturing under shorter term arrangements with the Company's customers. The remaining 54% of this backlog is concentrated in our military segment with involves lower volume production under longer term projects. This dual design, development and production capability has been, and continues to be, a competitive strength for MPDI.
On February 27, 1998, the Company amended its loan and security agreement with IBJ Schroder Business Credit Corporation. Among other things, this amendment increased the total credit facility to $15.45 million by adding a $3.0 million capital equipment line.
Headquartered in San Diego, QUALCOMM develops, manufactures, markets, licenses and operates advanced communications systems and products based on its proprietary digital wireless technologies. QUALCOMM's primary product areas are the OmniTRACS(R) system (a geostationary satellite-based, mobile communications system providing two-way data and position reporting services), CDMA wireless communications systems and products and, in conjunction with others, the development of the Globalstar(TM) low-earth-orbit (LEO) satellite communications system. Other QUALCOMM products include the Eudora Pro(TM) electronic mail software, ASIC products, and communications equipment and systems for government and commercial customers worldwide. For more information on QUALCOMM products and technologies, please visit QUALCOMM's web site at qualcomm.com.
As an ISO 9001 quality system certified company, Microwave Power Devices, Inc. designs, manufactures and sells highly linear power amplifiers and related subsystems to the worldwide wireless telecommunications market. These single and multi-channel amplifiers, which are a key component in wireless base stations, increase the power of radio frequency and microwave signals with low distortion. In addition, the Company designs and manufactures high- power, solid-state amplifiers for satellite communications and medical applications. The Company also designs and manufactures amplifiers and other products for the military market. For more information on Microwave Power Devices, please visit the Company's web site at mpdi.com.
To receive Microwave Power Devices' latest news and other corporate developments via fax at no cost, please call 1-800-PRO-INFO. Use company code MPDI.
Certain information contained in this press release is forward-looking. Actual results might differ materially from the forward-looking statements contained in this release. Please note that the Company filed with the SEC its Annual Report on Form 10-K on March 28, 1997, for the year ended December 31, 1996. Factors, set forth and incorporated in Item 1 -- ''Forward-Looking Statements'' of such Form 10-K, could cause the Company's actual results to differ materially from those expressed in any forward-looking statements. In addition, backlog is not necessarily indicative of future sales. Moreover, nearly all of the Company's backlog can be canceled at any time by the Company's customers. Certain of the purchase orders comprising backlog include product specifications not yet achieved by the Company.
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SOURCE: Microwave Power Devices, Inc. |
