U.S. Navy Awards Contract to Telenetics for Microwave Radios.
LAKE FOREST, Calif.--(BUSINESS WIRE)--March 8, 2001
Telenetics Corp. (Nasdaq:TLNT) announced today that it has been awarded a multi-year contract for approximately $876,000 by the U.S. Navy's Fleet and Industrial Supply Center for delivery of its Micropass(TM) series of microwave radios.
The contract requires first delivery and installation of Micropass(TM) radios in the Navy's aerial targeting and gunnery ranges within 90 days.
The microwave radios to be purchased under this contract will be utilized by the Naval Warfare Assessment Station as a key part of their scoring and target accuracy system. The Navy's sophisticated scoring systems rely on wireless microwave signaling technology due to the damage that terrestrial-based links such as cable or fiber sustain during actual bombing and gunnery practice. The Navy Warfare Assessment Station provides these systems to several branches of the military including the U.S. Navy and U.S. Air Force.
Telenetics' Micropass(TM) microwave radios have been previously installed on selected U.S. Army bases including Kuwait as the backbone of a Closed Circuit Television system deployed by the Army, which transmits video images over the wireless backbone network. The systems are used for security and the transmission of video images between facilities on the Army bases.
Based in Lake Forest, Telenetics(TM) is a leader in wired and wireless data communications solutions for utility, transportation, oil & gas, industrial automation applications and commercial networking systems. Telenetics offers a wide range of industrial grade modems and wireless products, systems and services for connecting its customers to end-point devices such as meters, remote terminal units, traffic and industrial controllers and remote sensors.
Telenetics also provides high-speed communications products for complex data networks used by financial institutions, air traffic control systems and public and private wireless network operators. The company is developing an advanced wireless data network enabling a wide range of customers to reliably and economically communicate through the Internet with their remote devices. Additional information may be obtained at www.telenetics.com.
Forward-Looking Statement Disclosure: Certain of the statements contained in this news release are "forward-looking statements" that involve risks and uncertainties. Actual future results could differ materially from these statements. Factors that could cause or contribute to such differences include but are not limited to the inability of the company to adequately finance its increased production requirements, including the production requirements associated with the Navy's contract, and those discussed in the company's Form 10-KSB for the year ended Dec. 31, 1999 and Form 10-QSB for the period ending Sept. 30, 2000.
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|Date:||Mar 8, 2001|
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