RANCHO CUCAMONGA, Calif. (Business Wire) -- Follow-on Orders from This Carrier Alone over the Next 3 Years Are Expected to Exceed $12,000,000
EMRISE CORPORATION (OTCBB:EMRI), a multi-national manufacturer of defense and aerospace electronic components and subsystems and communication equipment, today announced that its subsidiary, Larus Corporation, has received its first order for $440,000 for immediate delivery in the fourth quarter of 2004 from a major independent local exchange carrier for its new expanded capacity "StarClock(TM)" timing and synchronization system. This order is the first order for a 3-year requirement by the customer that may provide Larus over $12,000,000 additional revenue during the 3-year period.
Larry Taillie, president of Larus Corporation, stated: "This order is further evidence and substantiation of our understanding of the requirements of this market and the ever growing opportunity it provides. This order serves as a springboard for our new 'StarClock(TM)' family into larger carriers and regional bell operating companies in 2005."
Graham Jefferies, executive vice president and COO for EMRISE, commented: "This is an important order for Larus and EMRISE. It provides both companies with the validation of its strategy in the telecom space, the enormous growth opportunity for Larus' new state of the art 'StarClock(TM)' network timing and synchronization product and the best possible confirmation of the wisdom of the Larus acquisition which was completed in July 2004."
Carmine T. Oliva, chairman, president and CEO of EMRISE CORPORATION, commented: "This order adds additional revenue to an already strong fourth quarter 2004. Continuing future orders from this customer will add additional revenue to our current $35,000,000 revenue outlook for 2005."
About EMRISE CORPORATION
EMRISE CORPORATION is a multi-national manufacturer of defense and aerospace electronic components and subsystems and communications equipment. Our electronic components group, which includes XET Corporation and its international subsidiaries, provides custom power conversion products, digital and rotary switches and subsystem assemblies to the North American, European and Asian electronic components market and are primarily used for defense, aerospace and industrial applications. Our communications group, consisting of CXR Telcom Corporation, Larus Corporation and CXR Anderson Jacobson provides network access and transmission products, communications test instruments and satellite network timing and synchronization systems to the North American, European and Asian communications industry. Founded in 1983, EMRISE CORPORATION operates out of facilities in the United States, England, France and Japan. As of October 31, 2004, we had a total of 222 employees in our various subsidiaries and divisions. 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 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, Larus Corporation's ability to obtain $12,000,000 of additional revenue for its "StarClock(TM)" timing and synchronization system over the next 3 years from this same customer, to obtain follow-on orders from this customer in 2005, to benefit from growth opportunities in the market for timing and synchronization communications products with other larger carriers, to obtain $35,000,000 or more of revenue in 2005 and those factors contained in the "Risk Factors" Section of the company's Form 10-K for the year ended December 31, 2003.
EMRISE CORPORATION
Randolph D. Foote, 909-987-9220, ext. 3201
or
Hayden Communications
Matt Hayden or Brett Maas, 843-272-4659
