CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--July 13, 2004--Global ePoint, Inc. (Nasdaq: GEPT) today announced its AirWorks division has entered into a purchase term agreement amendment with Lufthansa Technik AG, which will allow Lufthansa Technik to market and sell the AirWorks Cockpit Door Surveillance System (CDSS). Lufthansa Airlines was the original customer for the AirWorks CDSS, installing the system on their entire fleet of Narrow body and Wide Body Aircraft.
The arrangement calls for geographical sales efforts whereby AirWorks will concentrate on select regions of the world while Lufthansa Technik not only offers the system along with their other services to their customer base but additional areas of the world with Lufthansa Techniks' marketing and sales presence.
"This announcement provides enhanced credibility for our CDSS system, while simultaneously opening the door for AirWorks to a bevy of new potential business through Lufthansa Technik's substantial sales presence," commented AirWorks President, Ricky Frick. "As our first CDSS customer, Lufthansa Technik recognized the value of the CDSS system early, and has been a staunch supporter. This announcement marks a significant milestone in the evolution of the product, and will be important in our revenue growth going forward."
Lufthansa Technik list 450 international operators as clients with locations in Ireland, Belgium, Hungary, Malta, North America, Malaysia, and the Philippines. Lufthansa Technik provides operators with custom-made support and a complete range of operational, technical, and other aviation and maintenance services.
The AirWorks system sells for between $13,000 and $18,000 per system, depending on the configuration, amount of cameras utilized and the options selected.
The AirWorks division's primary communications and security products include cockpit door surveillance systems (CDSS), a digital electronic "flight bag" of all flight and on-board manuals and records for pilots, and a Laptop Computer Power System for passengers and flight crews. AirWorks customers include airline OEMs including AT&T Aviation, BAE Systems, Inflight Phone, L3 Communications, and Rockwell Collins; all major U.S. airlines; and all major international carriers, including ATA, Air China, Bombardier, Finnair, Varig, KLM, Lufthansa, and Cathay Pacific. AirWorks holds more than 40 supplemental type certificates (STC) certifying AirWorks as a Federal Aviation Administration (FAA)-approved manufacturer and installer for a range of interior equipment and systems for a variety of commercial aircraft flying worldwide.
About Global ePoint
Global ePoint is a provider of computers, computing solutions and digital video, audio and data transmission and recording products. The Company's primary operations are through two divisions: Digital Technology and Contract Manufacturing. The Digital Technology division designs and markets digital video surveillance systems for law enforcement, military and homeland security markets. The Contract Manufacturing division manufacturers customized computing systems for industrial, business and consumer markets and other specialized electronic products and systems. Global ePoint's growth strategy includes developing new compression technologies and next-generation secure network digital video systems and servers for a wide range of new markets and applications. For more information go to www.globalepoint.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the company's current expectations, estimates and projections, management's beliefs and numerous assumptions, all of which are subject to change. These forward-looking statements are not guarantees of future results and are subject to numerous risks and uncertainties. Our actual results could differ materially and adversely from those expressed in any forward-looking statement. For example, deliveries may be delayed or installations canceled. Regulations may change and negatively affect demand for our products. There can be no assurance that the company's AirWorks division will be able to achieve growth of sales or market share. The forward-looking statements in this release speak only as of the date of this release. We undertake no obligation to revise or update publicly any forward-looking statement for any reason. These and other risk factors are detailed in our periodic filings with the Securities and Exchange Commission.