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Technology Stocks : Barringer technology (barr) -- Ignore unavailable to you. Want to Upgrade?

To: NewsTrader who wrote (602)	1/28/1999 1:14:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 652

Thursday January 28, 9:23 am Eastern Time Company Press Release Barringer Technologies Inc. Receives $4.0 Million Order From FAA WARREN, N.J.--(BUSINESS WIRE)--January 28, 1999--Barringer Technologies Inc. (NASDAQ: BARR - news, BARRW - news) today announced that it has received an order from the Federal Aviation Administration (''FAA'') for its IONSCAN® trace explosives detectors. The order is valued at approximately $4.0 million. A substantial portion of this order was shipped in the fourth quarter ended December 31, 1998, with the balance expected to ship in the first quarter of 1999. The IONSCAN® trace detectors will be deployed at major United States airports as part of the FAA's continuing program to enhance aviation security. Additional terms of the order were not disclosed. Kenneth Wood, President and Chief Operating Officer of Barringer Technologies Inc., said, ''This latest order from the FAA is especially gratifying, as the procurement decision was made jointly by the FAA and the airlines after a year of exhaustive field testing and evaluation of all trace detection instruments.'' Mr. Wood continued, ''Based on the IONSCAN®'s field performance and Barringer's commitment to service, the IONSCAN® was selected as the detector to further the FAA's deployment of advanced security equipment at major United States airports. In addition to being used at security check points for carry-on baggage, the IONSCAN® will also be used as an enhancement to the more advanced imaging equipment currently being used to inspect checked baggage.'' Mr. Wood concluded, ''The IONSCAN® has consistently and reliably demonstrated its capabilities in improving aviation security, and this order is a rewarding confirmation of how well our equipment is performing.'' Headquartered in Warren, New Jersey, Barringer Technologies Inc. is principally engaged in developing, manufacturing, and marketing of high technology products for drug and explosive detection and other security and industrial applications. The IONSCAN® is the Company's proprietary trace particle drug and explosive detection unit. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. When used in this press release, the words ''estimate,'' ''project,'' ''believe,'' ''anticipate,'' ''intend,'' ''expect,'' ''plan,'' ''predict,'' ''may,'' ''should,'' ''will,'' the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, the following: general economic and political conditions, budgetary processes, the timing of government procurements, and other conditions effecting the markets for the Company's products. Other factors may be described from time to time in the Company's public filings with the Securities and Exchange Commission, news releases and other communications. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to these forward- looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.