Aeroflex Incorporated Test Solutions Group Receives Order for Over $2 Million for FS-1000'S.
Business Editors/High-Tech Writers
PLAINVIEW, N.Y.--(BUSINESS WIRE)--Sept. 9, 2003
Aeroflex Incorporated (Nasdaq: ARXX), today announced that its Plainview division received an order for over $2 million dollars for FS-1000's from a major semiconductor test equipment manufacturer. Delivery is scheduled over the next five months.
The Aeroflex FS-1000 RF Source represents a milestone in Synthesizer development and reflects years of design experience in Fast Switching Synthesis. The capabilities of Aeroflex's Synthesizers include Extremely Low Phase Noise, Fast Switching, Multi-Channel Synthesizers for ATE and also for Frequency Agile Radar.
"We are very pleased that our major customer for the FS-1000 has seen a pick-up in business and has worked off their inventory. We believe this is evidence that the semiconductor test industry is beginning to rebound from the slump it has been in since 2001. We expect to see orders of this magnitude from them every four to six months," said Len Borow, Executive Vice President & Chief Operating Officer of Aeroflex.
About Aeroflex
Aeroflex Incorporated, through its subsidiaries, designs, develops and manufactures state-of-the-art microelectronic module, integrated circuit, interconnect and testing solutions used in broadband communication applications. The Company's common stock trades on the Nasdaq National Market System under the symbol ARXX and is included in the S&P SmallCap 600 index. Additional information concerning Aeroflex Incorporated can be found on the Company's Web site: www.aeroflex.com.
All statements other than statements of historical fact included in this press release regarding Aeroflex's financial position, business outlook, business strategy and plans and objectives of its management for future operations are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Aeroflex or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Aeroflex's management, as well as assumptions made by and information currently available to its management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, competitive factors and pricing pressures, the integration of the business of each of MCE Technologies and of the Racal Instruments Wireless Solutions Group with Aeroflex, changes in legal and regulatory requirements, technological change or difficulties, product development risks, commercialization difficulties and general economic conditions. Such statements reflect our current views with respect to the future and are subject to these and other risks, uncertainties and assumptions relating to Aeroflex's financial condition, results of operations, growth strategy and liquidity. Aeroflex does not undertake any obligation to update such forward-looking statements.
