DURHAM, NC - January 25, 2012...EMRISE CORPORATION (OTCBB: EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, announced today that it has sold $1 million (€800,000) of communications equipment to an existing, key European utility customer. Approximately one half of the communications equipment sold was shipped late in 2011 with the balance of the equipment to be shipped in the first quarter of 2012.
The communications equipment was sold by the Company's CXR Anderson Jacobson (CXR-AJ) subsidiary located in France. CXR-AJ provides a wide range of communications equipment including products sourced from EMRISE's CXR-Larus subsidiary located in San Jose, CA.
EMRISE Chief Executive Carmine T. Oliva said this sale to a major European utility is the result of the Company's strategy to increase its penetration of the utility markets. "We are especially pleased with this particular communications equipment sale as it is evidence of continuing strength in the utility market, which is a major focus of our Communications Equipment business segment in both Europe and the United States," Oliva added.
About EMRISE Corporation
EMRISE designs, manufactures and markets electronic
devices, sub-systems and equipment for aerospace, defense,
industrial and communications markets. EMRISE products
perform key functions such as power supply and power
conversion; radio frequency (RF) and microwave signal
processing; and network access and timing and
synchronization of communications networks. The use of its
power supplies, RF and microwave signal processing devices
and subsystems in on-board in-flight entertainment and
connectivity systems is a primary growth driver for the
Company's Electronic Devices business segment. The
Company's network access and timing and synchronization
products are primary growth drivers for the Company's
Communications Equipment business segment. EMRISE serves
the worldwide base of customers it has built in North
America, Europe and Asia through operations in the United
States, England and France. EMRISE is a publicly traded
company whose common stock trades on the OTCBB under the
symbol EMRI. For more information go to www.emrise.com.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
With the exception of historical information, the matters
discussed in this press release, including without
limitation EMRISE's ability to complete shipment in the
first quarter of 2012 of the balance of the equipment sold
and the Company's ability to increase its penetration
of the utility markets, are forward-looking statements that
involve a number of risks and uncertainties. The actual
future results of EMRISE Corporation could differ from
those statements. Factors that could cause or contribute to
such differences include, but are not limited to,
unforeseen technical issues, unexpected vendor or customer
delays, and unexpected changes in the economic, political
or overall business climate. The Company also refers you to
those factors contained in the "Risk Factors"
Section of EMRISE's Annual Report on Form 10-K for the
year ended December 31, 2010, its Quarterly Reports on Form
10-Q, its Current Reports on Form 8-K filed in recent
months, and other EMRISE filings with the SEC.
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