Emrise Corp. receives $2 million in orders
Aerospace-electronics industry manufacturer Emrise Corp. said on Thursday that it received $2 million in orders for radio frequency devices used in systems designed to prevent roadside bombs from detonating in Iraq and elsewhere.
Deliveries will most likely start this month, the Rancho Cucamonga company said.
"One of the reasons we purchased (Advanced Control Components) was because of its presence in the U.S. military market and its focus on RF devices for the high-volume business in RCIED-jamming systems," said Carmine Oliva, president and CEO, in a news release.
Emrise recently sold its Sunnyvale-based printed circuit board business, Sierra Circuits, to help pay off debt incurred for buying Eatontown, N.J.-based Advanced Control Components.
The company is looking to sell other non-core business divisions or product lines so it can pay down debt.
If Emrise's proposed stock split is approved by shareholders, shares would jump in value so the company can stay listed on the New York Stock Exchange.
Shares peaked at more than $11 in 1992 but are now facing a delisting on the exchange. The stock has been hovering between 50 - 90 cents.
Emrise earned $4 million from 2003 to 2005, but reported $5.5 million in losses over 2006 and 2007, mostly because of slower sales.
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