DURHAM, N.C., Jan. 15, 2014 (GLOBE NEWSWIRE) -- EMRISE CORPORATION(OTCBB:EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced that it has received a $1.4 million order for electronic devices and subsystems to be used in multimedia In-Flight Entertainment and Connectivity (IFE&C) systems to be installed in commercial aircraft.
The order was received by the Company's Pascall Electronics Ltd. subsidiary in England from a newer customer that is emerging as a fast growing and important participant in the IFE&C market. The order is expected to begin shipping in the second quarter of 2014 with shipments expected to be completed by the second quarter of 2015.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said this order and the growth of this customer further demonstrate the increasing opportunities we see for future business in the global IFE&C market.
"We believe a number of factors are driving the increasing demand for new multimedia IFE&C systems," Oliva added. "As air carriers worldwide focus on updating their fleets, the shipment of new aircraft is increasing and the forecasts for future aircraft shipments by the major aircraft manufacturers remain bullish. At the same time air carriers are also refurbishing newer aircraft in their fleets as they strive to create new revenue sources that improve a passenger's air travel experience."
Today's advanced IFE&C systems are now being installed in both short- and long-haul aircraft and they can deliver to the passenger seat a variety of multimedia entertainment features including satellite television and a number of communications features such as Broadband for access to Internet, e-mail and messaging services, and GSM for in-flight use of mobile phones.
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 to public and private communications networks. The use of its network products in public and private, legacy and latest Ethernet and Internet Protocol (IP) networks is a primary growth driver for the Company's Communications Equipment business units. 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 units. 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. For more information on EMRISE, go to www.emrise.com.
EMRISE common stock trades under the symbol EMRI on OTCQB, the venture marketplace for companies that are current in their reporting with a U.S. regulator. Investors can find Real-Time quotes and market information for EMRISE at www.otcmarkets.com.
Safe Harbor Statement under Private Securities Litigation Reform Act of 1995
With the exception of historical information, certain matters discussed in this press release including, but not limited to, EMRISE's expectation that shipments of the order will commence in the second quarter of 2014 and be completed by the second quarter of 2015; its belief that this order and the growth of this customer further demonstrate the increasing opportunities it sees for future business in the global IFE&C market; its belief that the shipment of new aircraft is increasing and the forecasts for future aircraft shipments by the major aircraft manufactures remain bullish; and its belief that air carriers are also refurbishing newer aircraft in their fleets, are all forward-looking statements involving risks and uncertainties. Actual future results of EMRISE could differ from those statements. EMRISE 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, 2012, its Quarterly Reports on Form 10-Q, Current Reports on Form 8-K filed recently, and other EMRISE SEC filings.
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Source: EMRISE Corporation