International DisplayWorks Awarded Two Satellite Radio Purchase Orders Valued at up to $7 Million.ROSEVILLE, Calif. -- International DisplayWorks, Inc. (IDW IDW Informationsdienst Wissenschaft (German: News service science) IDW Ideal Weight IDW Institut der Wirtschaftsprüfer (German: Institute of Auditors ) IDW Inverse Distance Weighting ) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :IDWK IDWK International Display Works IDWK I Don't Wanna Know ) announced today that it has been awarded two satellite radio contracts; one from a major automotive parts supplier for Film SuperTwist An LCD technology that twists liquid molecules greater than 90 degrees in order to improve contrast and viewing angle. See LCD. Nematic The stage between a crystal and a liquid that has a threadlike nature; for example, a liquid crystal. See crystalline and LCD. (FSTN (Film Compensated STN) A passive matrix LCD technology that uses a film compensating layer between the STN display and rear polarizer for added sharpness. It was used in laptops before the DSTN method became popular. See DSTN and LCD. ) displays to be used in a new automotive satellite radio product, and the other from a major satellite radio provider for FSTN units to be used in a new portable satellite radio product. IDW is working with the customers to define final requirements and expects to start shipping displays for the automotive parts supplier during the third fiscal quarter of 2006 while volume production has already begun for the satellite radio provider. Forecasted revenue for these projects over the next 12 months is expected to be approximately $7 million, subject to IDW's ability to continuously meet the customer's forecasted demand and quality requirements. Steve Gerisch, Vice President of Sales of International DisplayWorks, commented, "This represents our first major automotive win and was enabled by IDW recently achieving ISO/TS16949 certification, the most widely recognized automotive standard in Europe and the USA. In addition, we continue to win business in the area of portable media devices, in this case a portable satellite radio. MP3 players and Satellite Radio products represent two of the fastest growing consumer electronics markets, and IDW has developed significant relationships and built a strong reputation for quality, service and price within this segment. These wins further our overall market strategy whereby we target many different vertical markets in order to diversify our business." About International DisplayWorks International DisplayWorks, Inc. is a manufacturer and designer of high quality liquid crystal displays, modules and assemblies for a variety of customer needs including OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and applications. IDW operates 466,000 square feet of manufacturing facilities in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China (PRC). Sales offices are located in US, Europe, Hong Kong, Singapore, and China. Copies of IDW's 10-K and other documents as filed with the SEC are available through a link on our web site: www.idwk.com. NOTE: The foregoing is news relating to International DisplayWorks, Inc. ("IDW") and contains forward-looking statements, which are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Specific to this release IDW's inability to meet the customers' purchase order and quality requirements, changes in market conditions for the product or other factors beyond IDW's control could result in a materially different revenue outcome. When used in this release, the words "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to IDW or its management, including without limitation, IDW and its subsidiaries, are intended to identify such forward-looking statements. IDW's actual results, performance or achievements could differ materially from the results expressed in, or implied by these forward-looking statements. For more detailed information the reader is referred to IDW's 10-K and other related documents filed with the Securities and Exchange Commission. This does not constitute an offer to buy or sell securities by the Company and is meant purely for informational purposes. |
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