EMRISE (ERI) Completes Acquisition of Advanced Control Components
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EMRISE (NYSE: ERI) has completed the acquisition of Eatontown, NJ-based Advanced Control Components, Inc. (ACC). ACC is a supplier of high performance radio frequency (RF) and microwave devices and subsystems that for more than 26 years has been serving the military, aerospace, commercial and instrumentation markets.
“In addition to strengthening our organic operations, this acquisition adds significantly to our optimism about the future success of EMRISE,” Chairman, President and Chief Executive Officer Carmine T. Oliva said. “We believe the addition of ACC will substantially strengthen our future operating results and overall financial condition. In the 12 months following closing, we expect ACC to add $17 million to $18 million in revenues, increase overall gross margins and make a major contribution to consolidated net income and earnings per share. We expect ACC’s profit contribution to begin with a small positive impact during the third quarter of 2008 and more material net income contributions beginning in the fourth quarter of 2008 and going forward.”
(NOTE - Shares trade under $1)
Emrise Corporation designs, manufactures and markets electronic devices and communications equipment for aerospace, defense, industrial and communications applications.[SM]
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