Global ePoint subsidiary Global Airworks received an additional $1.8 million in equipment and service orders under its contract with South American carrier Avianca Airlines.
The new orders increase the value of the contract to $9.1 million. The City of Industry-based company said the suite of products and services it will supply are expected to enhance airline security and lower fuel consumption.
The increase in orders is due to the expansion of the Cockpit Door Surveillance System (CDSS) to include the cargo hold area with full digital video recording for increased security. In addition, Avianca increased the number of aircraft to receive a program that provides passenger entertainment and generates fuel savings. Through Global Airworks’ services, the airline also will extend its in-seat laptop computer system from business class into coach.
Global ePoint Inc. (NASDAQ: GEPT - News) manufactures security technologies for aviation, law enforcement, industrial and commercial markets.
About Global ePoint’s Aviation Division
The Company’s Aviation Division includes 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.
Global ePoint, Inc.
John Price, 909-869-1688 Ext.307
CEOcast, Inc. for Global ePoint
Ed Lewis, 212-732-4300