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Irvine Sensors Corp. (Costa Mesa, Calif.) (Nasdaq: IRSN) announces that it has received two purchase orders from a defense contractor for production quantities of Irvine's proprietary thermal imaging cores intended for use in a new military product. The two purchase orders are for deliveries in Irvine Sensor's current fiscal year and the two subsequent fiscal years thereafter. Pricing of the delivered units will be dependent upon product configurations required to meet end-user applications, but the aggregate value of the two purchase orders is expected to be at least approximately $7.7 million. Initial configurations have been specified to allow Irvine Sensors to commence production in the immediate future.
Irvine Sensors Corporation (www.irvine-sensors.com), headquartered in Costa Mesa, California, is a vision systems company engaged in the development and sale of miniaturized infrared and electro-optical cameras, image processors and stacked chip assemblies and sale of higher level systems incorporating such products and research and development related to high density electronics, miniaturized sensors, optical interconnection technology, high speed network security, image processing and low-power analog and mixed-signal integrated circuits for diverse systems applications.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This message may contain forward-looking statements based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us. Words such as ''anticipates,'' ''expects,'' ''intends,'' ''plans,'' ''believes,'' ''seeks,'' ''estimates,'' ''may,'' ''will'' and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, our ability to satisfy the delivery requirements of the thermal imaging core purchase orders. Such statements speak only as of the date hereof and are subject to change. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to raise additional debt or equity financing to meet the working capital needs of our business or the thermal imaging purchase orders; the availability of components intended for integration into our thermal imaging cores products; military factors impacting the demand for the new military product application; impact of presently unknown competitive alternatives to our thermal imaging core products; and the general economic, market and political conditions and specific conditions that may impact our operations. Further information on Irvine Sensors Corporation, including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and our other SEC filings that are available through the SEC's website (www.sec.gov).