Headline: Vari-L Company Announces $2.2 Million Sole Source Pact with Wireless
Access Group of Glenayre Technologies
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Delivery of a Minimum 840,000 Units to Commence in First Quarter of 1999
DENVER, Dec. 8 /PRNewswire/ -- Vari-L Company, Inc. (NASDAQ:VARL), a
leading provider of advanced components for the wireless telecommunications
industry, today announced it has entered into a $2.2 million agreement to be
the sole source provider of Voltage Controlled Oscillators (VCOs) to Wireless
Access Inc., a wholly owned subsidiary of Glenayre Technologies Inc.
(NASDAQ:GEMS).
Under terms of the agreement, which will significantly increase the
utilization of the enhanced manufacturing capacity installed by the Company in
1998, Vari-L will deliver a minimum of 840,000 VCOs beginning in the first
quarter of 1999. The VCOs will be incorporated into the Accessmate(TM), an
advanced messaging device manufactured by Wireless Access.
Dave Sherman, president and CEO of Vari-L, said, "Wireless Access has been
a very strong partner in our development efforts and we look forward to a long
and mutually-beneficial relationship. We are pleased to have been selected as
sole source provider for the state-of-the-art Accessmate program, as we worked
hard to develop customized versions of our products that meet Wireless Access'
exacting standards for high performance and low power consumption. The
agreement affirms Vari-L's ability to provide the subscriber marketplace with
superior products at competitive prices.
"Over the past several years, Vari-L has established itself as the world
leader in providing communications components for the wireless base station
and infrastructure marketplace," Sherman added. "However, our current goal is
to establish the Company as a major provider of components for cellular
handsets and paging devices, markets which hold great potential for
accelerated company growth. The agreement with Wireless Access is a key
milestone in our effort to achieve that goal."
Larry Tailee, vice president of manufacturing for Wireless Access, said,
"Vari-L manufactures high-performance, patented VCOs that consume minimal DC
power. Their efficient miniature products help prolong battery life in our
Accessmate advanced messaging device. We look forward to continuing our
strong relationship with Vari-L."
About Vari-L Company, Inc.
Through its headquarters in Denver, Vari-L designs, manufactures and
markets a wide range of radio and microwave frequency signal source and
processing components used in the wireless telecommunications industry for
both commercial and military applications. Vari-L serves a diverse customer
base comprised of some of the world's leading technology companies, including
California Microwave, Ericsson, Harris, Hughes, IBM, Lockheed Martin, Lucent
Technologies, Mitsubishi, Motorola, NEC, Nokia, Northrop Grumman, Raytheon,
Samsung, Siemens, Stanford Telecom and Wireless Access.
About Wireless Access, Inc.
Wireless Access is a leading developer and marketer of innovative two-way
paging devices. The company was recently acquired by Glenayre Technologies,
Inc., positioning Glenayre to offer end-to-end two-way paging systems from
infrastructure to the latest generation of advanced pagers. Glenayre has
products installed in more than 100 countries and reported 1997 net sales in
excess of $451 million. Additional information about Glenayre is available on
the company's web site at glenayre.com.
Some of the statements contained in this news release are forward-looking
statements. The accuracy of these statements cannot be guaranteed as they are
subject to a variety of risks, including but not limited to the success of the
products into which the Company's products are integrated, governmental action
relating to wireless communications licensing and regulation, internal
projections as to the demand for certain types of technological innovation,
competitive products and pricing, the success of new product development
efforts, the timely release for production and the delivery of products under
existing contracts, future economic conditions generally, as well as other
factors.
SOURCE Vari-L Company, Inc.
-0- 12/08/98
/CONTACT: Dave Sherman, President & CEO, or Jon Clark, Chief Financial
Officer, of Vari-L Company, Inc., 303-371-1560; or Jay Pfeiffer or Matt
Dickerson of Pfeiffer Public Relations, Inc., 303-393-7044,
matt@pfeifferpr.com, for Vari-L Company, Inc./
/Web site: glenayre.com |
