CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--Oct. 28, 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 received additional contracts for approximately $750,000 to be included in fourth quarter planned deliveries.
The additional orders consist of Engineering, Certification, Installation kits and Installation labor for Avianca Airlines B757s and B767s. Avianca is currently retrofitting the complete interiors of all aircraft and, with this upgrade program, will undertake a change of seating configurations requiring certified drawings, interior compliance inspections and additional seats, passenger service units and associated wiring. The required modification is to take place on twelve 757/767 aircraft in Colombia. AirWorks installation teams already on-site in Colombia will complete the required installation work.
"These new contracts will increase Airworks’ planned deliveries for the fourth quarter to over $5 million," stated Ricky Frick, President of AirWorks. "Of the planned deliveries, the newly opened hangar facility in Tulsa is scheduled to deliver $1.1 million in the quarter out of a $5.4 million total backlog already booked for the Tulsa operation.
"We are extremely pleased that our development of new products and services earlier in 2005 is producing the sales and shipment growth we are now seeing in the fourth quarter, as well as the solid backlog we have already put in place for 2006," said Frick.
"In addition to these successes, we have accelerated our demonstrations of the Cockpit Door Surveillance System (CDSS) and Electronic Flight Bag (EFB) following the release of the FAA’s cockpit door NPRM and other countries’ recent mandates. Achieving mass distribution of our digital technology products while increasing our service and modification operations continues to be our objective."
About Global ePoint’s Aviation Division
The Company’s Aviation Division, AirWorks, offers communications and security products including the Cockpit Door Surveillance System (CDSS), a digital Electronic Flight Bag (EFB) of all flight and on-board manuals and records for pilots and a Laptop Computer System for passengers and crew. The AirWorks hangar operations in Tulsa, OK provide turnkey modification services. AirWorks customers include airline major OEMs, US-based domestic carriers and international airlines worldwide. AirWorks has marketing personnel in several international locations. Airworks also has sales and marketing agreements with Lufthansa Technic. 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. Such statements include, but are not limited to whether AirWorks will: provide complete $750,000 in new orders in Q4 2005, deliver a total of $1.1 million out of its Tulsa facility, complete a total of $5.4 million in backlog out of its Tulsa facility, whether Airworks will reach record revenue of over $5 million during the fourth quarter; continue to perform on backlogged orders in 2006; or achieve mass distribution of its digital technology. 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, decisions made by aircraft leasing companies that are beyond AirWorks' ability to control; 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 or the completion of existing and backlogged workorders; 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-QSB, 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.
Global ePoint, Inc.
Paul Goodson, 909-839-1719
CEOcast, Inc. for Global ePoint
Ed Lewis, 212-732-4300