CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--Oct. 24, 2005--Global ePoint, Inc. (NASDAQ: GEPT - News), a leading manufacturer of security technologies for the aviation, law enforcement, industrial and commercial markets, today announced that its Aviation Division has expanded operations into an 80,000 square foot aircraft modifcation center in Tulsa, Oklahoma. AirWorks selected this location as a completion and modification center in support of a 26 aircraft purchase by Synergy Aerospace. AirWorks will provide complete turnkey services from conversion to delivery of aircraft for WayraPeru, VIPS of Equador, OceanAir of Brazil and Avianca Airlines.
"The ability to utilize Tulsa for this major project provides us with a springboard from which to develop additional opportunities in a rapidly expanding $12 billion market for aircraft modifications," commented Ricky Frick, President of AirWorks. "But even without these additional opportunities, AirWorks expects to attain record revenues in 2005’s fourth quarter," added Frick.
The modification program will consist of total cabin refurbishment, certification of new interior configurations, exterior paint, In Seat Power modifications, and the newly released AirWorks In-Flight Entertainment System.
"Though we have a long history of providing our customers with complete turnkey solutions around the world, the addition of a dedicated maintenance facility allows us to perform even more detailed and complex modifications," added Frick. "By increasing our modification capabilities, we supplement our Surveillance Products, Electronic Flight Bag, In Flight Entertainment, and Installation kit businesses."
Recent estimates of the aircraft Maintenance, Repair and Overhaul (MRO) industry show explosive growth in Latin America, with a projected market growth of $1.7 billion annually. "With AirWorks providing services to 4 different Latin American Airlines from this strategic Tulsa location, we’re very well positioned to continue our growth with Latin American customers." During 2006 AirWorks will continue to perform on already backlogged work orders, and will also evaluate the expansion of the Tulsa facility to add more capabilities and square footage.
In addition to the Tulsa facility, AirWorks is strengthening its engineering, certification and manufacturing capabilities as part of a 38,000 square foot relocation of its City of Industry operations to Brea, California. "With our current backlog and the expansion of our service offerings, the Brea location will provide the necessary facility, personnel, equipment, and repair capabilities to meet our backlog and ensure that we are positioned for new FAA mandates, foreign regulatory mandates, and the on-going need to meet the airline community’s demand for our turnkey solutions," said Frick. "These additional capabilities strongly position AirWorks to continue gaining market share in the aircraft security and service sector, which continues to grow and is estimated by industry analysts to reach approximately $28 billion in 2006."
About Global ePoint’s Aviation Division
The Company’s Aviation division contains Global AirWorks, whose primary communications and security products include the Cockpit Door Surveillance System (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 major OEMs, such as AT&T Aviation, BAE Systems, In-flight 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, Inc.
Global ePoint’s growth catalyst, through its wholly-owned subsidiaries, is the design, manufacturing, sales and distribution of digital video surveillance systems for the law enforcement, military, aviation and homeland security markets. On the cutting edge of digital technology and seeking to expand its product line, Global ePoint is developing new compression technologies and next-generation, secure network digital video systems and servers for a wide range of new markets, concentrating primarily on security and homeland defense applications. As a solid recurring revenue stream, the Company also manufactures customized computing systems for industrial, business and consumer markets, as well as other specialized electronic products and systems. Complete vertical integration -- from design and manufacturing to sales and distribution -- allows the Company to capture efficiencies and maintain cost advantages in these growing markets, particularly homeland security. For more information, please visit http://www.globalepoint.com
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This release may contain forward-looking statements. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, risks related to the integration of the Company’s recently acquired operations; market acceptance of the Company's products; delays in the introduction of new products; production and/or quality control problems; further approvals of regulatory authorities and the denial, suspension or revocation of certifications and licenses by governmental authorities; and the Company’s ability to obtain capital as and when needed. For a discussion of these and other factors which may cause actual events or results to differ from those projected, please refer to the Company’s most recent annual report on Form 10-KSB and quarterly reports on Form 10-Q, as well as other subsequent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
Aurelius Consulting Group Inc.
Dave Gentry, 407-644-4256
Global ePoint, Inc.
Paul Goodson, 909-839-1719