FOR IMMEDIATE RELEASE
Micronetics Receives Production Release of Switch Filter Banks
Floyd Parin, President of MVS, stated "This is an important order for us because it confirms our role as a leading supplier to the fast growing radio simulator marketplace. Our product enables our customer to operate its system at higher power levels than our competition, with extremely limited interference."
David Robbins, Senior Vice President of Micronetics' Components and Subassemblies Group, stated "This is further validation of our strategy to acquire companies with related technology to allow us to win orders of increasing levels of complexity and to become a stronger competitor in particular market segments. I believe the level of cooperation between the members of our Components and Subassemblies Group supports our ability to continue to win orders like this in the future."
Richard Kalin, President and CEO, stated, "We are pleased that bookings activity has begun to increase in Q2. We continue to experience reduced shipments to a large customer in our Test Solutions Groups, which shipments represented a significant amount of our sales last year in this period. While we are optimistic that the current period will exceed Q1 sales and income, year over year increases in sales and income in Q2 is a challenge. We remain optimistic as to the financial results for the complete fiscal year.
Headquartered in Hudson, NH, Micronetics manufactures and designs innovative test equipment and test components that are used to test the strength, durability and integrity of communication signals in communications and internet infrastructure equipment. Micronetics also manufactures microwave and radio frequency (RF) components and integrated subassemblies used in a variety of commercial wireless and military products. Micronetics' products are used in or test communication and internet infrastructure equipment (including wireless base stations, repeaters, and cable modem equipment), fixed terminal, point-to-point/multi-point data radios, consumer subscriber products (cellular/PCS/satellite handsets), home networking equipment and military/aerospace platforms (satellite communications, electronic warfare and electronic counter-measures). Micronetics serves a diverse customer base, including some of the world's leading technology companies, such as Adtran, Agere, Alcatel, BAE Systems, Boeing, Cisco, ComDev, Datron, EADS, Ericsson, L-3 Communications, Lockheed Martin, Lucent Technologies, Motorola, NEC, Nokia, Northrop Grumman, Raytheon, Tektronix, Teradyne and Thales.
Some of the statements contained in this news release are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, including but not limited to the success of the products into which the Company's products are integrated, governmental action relating to wireless communications licensing and regulation, internal projections as to the demand for certain types of technological innovation, competitive products and pricing, the success of new product development efforts, the timely release for production and the delivery of products under existing contracts, future economic conditions generally, as well as other factors. The information in this release should be reviewed in conjunction with Micronetics' Annual Report for its fiscal year ended March 31, 2001.
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