Endwave Acquires ALC Microwave, Inc.
April 19 2007 - 6:20PM
PR Newswire (US)
Endwave Adds New Product Capability and Key Defense Customer
Relationships SAN JOSE, Calif., April 19 /PRNewswire-FirstCall/ --
Endwave Corporation (NASDAQ:ENWV), a leading provider of
high-frequency RF modules for telecommunications networks, defense
electronics and homeland security systems, today announced the
acquisition of privately-held ALC Microwave, Inc. for approximately
$6.6 million in cash. ALC is a leading provider of logarithmic
amplifier subsystems to many US and international defense prime
contractors. Since its founding in 1999, ALC has been delivering
these unique amplifier products for use in early warning radars,
threat detection equipment, electronic countermeasures and missile
guidance systems. Additionally, ALC provides microwave and
millimeter-wave components and subsystems for several other
advanced defense electronics platforms not previously served by
Endwave. ALC, with approximately 40 employees, is located in El
Dorado Hills, CA, in close proximity to Endwave's Diamond Springs,
CA operation. ALC's revenues were approximately $5.5 million in
2006. "This acquisition is strategically important to Endwave's
mission in our defense and security business," said Ed Keible, CEO
and President of Endwave. "In addition to expanding our product
portfolio, we are pleased to gain access to critical OEM
relationships fostered by ALC in the defense community," added
Keible. "Given ALC's revenue growth, profitability, positive cash
flow from operations and complementary market position, we view
this transaction as an important step in continuing to build a
profitable, thriving company." "We are excited to become part of
Endwave Corporation," said Russ Alm, CEO and President of ALC
Microwave, Inc. "We were drawn to Endwave's strategic vision for
the defense and security markets and believe that the financial
strength and world-wide sales reach of Endwave will allow us to
further penetrate a broader range of market applications and
customers." About Endwave Endwave Corporation designs, manufactures
and markets RF modules that enable the transmission, reception and
processing of high-frequency signals in telecommunications
networks, defense electronics and homeland security systems. These
RF modules include high-frequency integrated transceivers,
amplifiers, synthesizers, oscillators, up and down converters,
frequency multipliers and microwave switch arrays. Endwave has 42
issued patents covering its core technologies including
semiconductor and proprietary circuit designs. Endwave Corporation
is headquartered in San Jose, CA, with operations in Diamond
Springs, CA; El Dorado Hills, CA; Andover, MA; and Chiang Mai,
Thailand. Additional information about the company can be accessed
from the company's web site at http://www.endwave.com/. "Safe
Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: This press release, and other statements Endwave may
make, including statements about the benefits of the acquisition of
ALC, contains forward- looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, with respect to
Endwave's future financial or business performance, strategies and
expectations. Forward-looking statements are typically identified
by words or phrases such as "view," "believe," "vision," "trend,"
"potential," "opportunity," "pipeline," "expect," "anticipate,"
"intention," "estimate," "position," "assume," "outlook,"
"continue," "remain," "maintain," "sustain," "seek," "achieve," and
similar expressions, or future or conditional verbs such as "will,"
"would," "should," "could," "may" and similar expressions.
Forward-looking statements are based largely on expectations and
projections about future events and future trends and are subject
to numerous assumptions, risks and uncertainties, which change over
time. Endwave's actual results could differ materially from those
anticipated in forward-looking statements and you should not place
any undue reliance on such forward looking statements. Factors that
could cause actual performance to differ from these forward-looking
statements include the risks and uncertainties disclosed in
Endwave's filings with the Securities and Exchange Commission.
Endwave's filings with the SEC are accessible on the SEC's website
at http://www.sec.gov/. Forward-looking statements speak only as of
the date they are made. In particular, the anticipated benefits of
the acquisition of ALC are uncertain and could be affected by many
factors, including, without limitation, our ability to integrate
ALC's business with ours, ALC's future financial performance and
general economic and financial market conditions. Contact: Mary
McGowan Summit IR Group, Inc. 408-404-5401 DATASOURCE: Endwave
Corporation CONTACT: Mary McGowan of Summit IR Group, Inc.,
+1-408-404-5401, or , for Endwave Corporation Web site:
http://www.endwave.com/
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