Micronetics Receives RFID Forklift Sensor System Order in Excess of $750K for Beta Testing with Major Retailer
July 10 2009 - 2:00PM
Business Wire
Micronetics, Inc. (NASDAQ:NOIZ) announced today that it has
received an order in excess of $750K for initial beta testing with
a major retailer for its forklift mounted radio frequency
identification (RFID) antenna sensor system. The forklift sensor
system has recently completed a successful pre-production test
phase, and will now begin beta testing with deployments over the
next several months. These beta test sites represent approximately
7% of the retailer�s total locations. This order is a portion of a
purchase agreement containing an option for full scale production
roll-out upon successful completion of this phase.
Micronetics� RFID forklift antenna system is being integrated on
one of the most widely used forklifts in the industry. This system
interfaces with the retailer�s warehouse management system in order
to streamline material movement and increase throughput.
Dave Robbins, CEO of Micronetics, Inc. stated, �We are excited
about the market potential of our RFID systems to enhance supply
chain inventory management capabilities. We believe that receiving
this order validates to us the robustness of our forklift antenna
sensor system.�
Kevin Beals, President of Micronetics, Inc. stated, �We
anticipate a successful transition from beta to full production
roll-out within six to nine months after the completion of the beta
testing. In support of this effort, we will be providing dedicated
software and hardware resources during these trials. We are working
very closely with our integration partners and the end user to
assure success in this retail application.�
In March 2009, Micronetics acquired the pedestal and forklift
mounted radio frequency identification (RFID product line of
M/A-COM RFID, Inc, an indirect, wholly owned subsidiary of Cobham
plc.
Micronetics manufactures microwave and radio frequency (RF)
components and integrated subassemblies used in a variety of
defense, aerospace and commercial applications. Micronetics also
manufactures and designs test equipment and components that test
the strength, durability and integrity of communication signals in
communications equipment. Micronetics serves a diverse customer
base, including AeroSat, Anaren Microwave, Anritsu, Augusta
Aerospace, BAE Systems, Boeing, Comtech, EADS, EDO/Benchmark,
General Dynamics, ITT Electronic Warfare Systems, L-3
Communications, Lockheed Martin, NAVICP, Nextwave/Jabil Circuit,
Northrop Grumman, Pegasus GSS, Qualcomm, Raytheon, Teradyne,
Tektronix and Thales. Additional information can be found on our
website at http://www.micronetics.com.
Some of the statements contained in this news release are
forward-looking statements. The accuracy of these statements cannot
be guaranteed as they are subject to a variety of risks, including
but not limited to reductions in spending by certain of our
customers, our ability to operate and integrate acquired companies,
our ability to manage our growth, disruptions in supply or
production, increased levels of debt, our ability to protect our
proprietary information, future economic conditions in our industry
and generally, as well as other factors. The information in this
release should be reviewed in conjunction with Micronetics' Annual
Report for its fiscal year ended March 31, 2009.
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