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Technology Stocks : Osicom(FIBR) -- Ignore unavailable to you. Want to Upgrade?

To: CH who wrote (9514)	4/22/1999 6:58:00 PM
From: Jatin Kadakia	Read Replies (1) \| Respond to of 10479

Well here is the July 1 release. Can legal types analyze this and see if they have a case? -------------------- Osicom Enters into an OEM Agreement in FarEast; Exclusive Supply Agreement Diversifies Osicom's Far East ProductOfferings in Wireless Communications July 1, 1998 03:58 PM SANTA MONICA, Calif.--(BUSINESS WIRE)--July 1, 1998--Osicom Technologies FIBR , today announced that its Far East Division has entered into an exclusive OEM agreement to supply wireless personal digital assistant (PDA) communication product to a customer in Japan. The value of this agreement is estimated at about U.S. $90 Million spread over a two-year period. In addition to a conventional voice conversation, the wireless PDA communication product allows callers to view an MPEG2 image of the other party downloaded at the initiation of each call. The built-in camera can also transmit other still images to be displayed on the built-in screen. Users of this as yet unnamed product will also be able to download video games for a fee from Internet Service Providers (ISP) and play them off-line -- a service with expected high demand in Japan and other Far East markets. Commenting on the status of the agreement, Osicom Chief Financial Officer John H. Gorman said, "This agreement alone could double the Far East Division's current revenue base. The customer for the wireless PDA communication has already paid its contractually obligated non-recurring engineering expenses and is expected to begin accepting delivery of the product in February, 1999." Based on customer projections, the Company expects the dollar value of monthly shipments from this agreement to be approximately US $4.0 million over the first twenty four months of the contract. Gorman continued, "The product itself is still in prototype stage. As we get closer to the ship date and are able to get a better sense of likely order quantities, we will provide more details about the likely impact of this contract on the Division's P and L." The Far East division has also begun shipments of two other products to customers in Hong Kong and China -- a two way "walkie-talkie" with a paging feature triggered by a proximity alarm and handheld wireless and fixed SmartCard readers for point-of-sale applications. These product introductions extend the Division's product portfolio beyond its historical focus on hubs and switches and are expected to broaden the Division's historically narrow customer base. Each of the new products will exploit the Company's one or more existing core technologies including its network connectivity system-on-silicon products. About Osicom Osicom Technologies is a leading provider of integrated networking and bandwidth aggregation solutions for enhancing the performance of existing data and telecommunications networks. The Company combines expertise across multiple disciplines to offer fiber transport, remote access, virtual private networking, video switching and transport, and network systems-on-silicon to carrier and enterprise customers. The Company brings value to its customers by offering end-to-end, single vendor solutions as an integrated set. Osicom's offerings feature open architectures, offer complete scalability and fully support industry standards. The Company's flagship products are the GigaMux family of Dense Wavelength Division Multiplexers (DWDM) for short-haul Metro applications, the NET+ARM system-on-silicon for network connectivity, and the IQX-200 family of scaleable Remote Access Servers. For additional company, product or financial information, visit the Osicom website, www.osicom.com, or call toll free 888-OSICOM8. For calls originating outside the United States, call 301-317-7710. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation the company's ability to develop, produce, and market products that incorporate new technology on a timely basis, that are priced competitively and achieve significant market acceptance; higher expenses associated with the development and marketing of new products; changes in product mix; risks of dependence on third-party component suppliers; inventory risks due to shifts in market demand; the presence of competitors with broader product lines and greater financial resources; intellectual property rights and litigation; needs for liquidity; and the other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission. All trademarks are the properties of their respective owners. Next Previous