Lyrtech generates C$7,420,000 in new orders
The combined forces of Lyrtech's engineering and Innovator's electronic manufacturing and assembly capabilities have already begun to generate significant business
Lyrtech, a worldwide leader in digital signal processing (DSP) technologies, is pleased to announce that the Combined forces of Lyrtech's engineering and Innovator's electronic manufacturing and assembly capabilities have already begun to generate significant business. Since the acquisition of Innovator Electronic Assembly on May 7, 2006, Lyrtech has received a total of C$7,420,000 in new orders from the following customers:. * Alstom - MP3 players for the new Pendolino trains in Italy and Switzerland.
The MP3 player is a module in Alstom's passenger information, security, and entertainment system.
The Company placed an order for 5,500 boards over a year and a half (until December 2007) and the possibility of another 4,500 boards for a total of 10,000 boards over three years, for a total contract potentially worth about C$1.8 million.
* C-Com Satellite Systems - The iNetVu system offers a two-way high-speed satellite Internet access solution, no matter where, for people and businesses on the move.
Firm orders and options, are valued at C$800,000 over a one-year period.
* Verint - New firm orders for two RoHS-ready video surveillance products with options, for a total of approximately C$2,800,000 over a one-year period.
* C$2,020,000 from five undisclosed customers.
'The generation of new orders demonstrates that the business rationale for Combining Lyrtech's engineering with Innovator's manufacturing capabilities was sound,' stated Miguel Caron, President and CEO of Lyrtech.
'We remain very positive about the prospects of the business going forward and the rate of growth and profitability we can achieve'.
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