World Bank Selects Radyne Modem Technology31 May 2006
Radyne Corporation (Nasdaq: RADN) today announced that the World Bank selected its technology for its satellite ground equipment needs for the next two years. The World Bank, which recently replaced a group of their legacy satellite modems with Radyne's DMD-20, committed to purchase Radyne technology for its satellite needs over the next two years.
"We are very appreciative of World Bank's confidence in our cutting-edge technology," said Bob Fitting, Radyne's CEO. "We are particularly gratified because the World Bank chose the DMD 20 to replace our competitor's existing equipment."
The DMD-20 is the world's most flexible modem, featuring ease of installation, and serves a wide range of mission critical applications for various government agencies and commercial enterprises.
About Radyne Corporation
Radyne Corporation designs, manufactures, sells, integrates and installs products, systems and software used for the transmission and reception of data and video over satellite, troposcatter, microwave and cable communication networks. The Company, through its Tiernan subsidiary, is a supplier of HDTV and SDTV encoding and transmission equipment. The Xicom Technology subsidiary is a producer of high power amplifiers for communications applications. Radyne is headquartered in Phoenix, Arizona, has manufacturing facilities in Phoenix, Arizona and San Diego, and Santa Clara, California and sales offices in Singapore, Beijing, Jakarta and the United Kingdom. The Company also has sales and/or service centers in Sao Paulo, Bangalore, Shanghai and Moscow. For more information, visit our web site at http://www.radn.com. Additional information on Xicom is available at http://www.xicomtech.com .
Safe Harbor Paragraph for Forward-Looking Statements
This press release includes statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act") and Radyne claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results, performance or achievements of Radyne Corporation and its subsidiaries to be materially different from those expressed or implied by such forward-looking statements. Factors that could affect Radyne Corporation's results and cause them to materially differ from those contained in the forward-looking statements contained herein include, without limitation our belief that Radyne will receive additional orders for satellite ground equipment including its DMD-20 or that such orders will increase Radyne profitability.
Other factors that may affect forward-looking statements and the Company's business generally include but are not limited to:
* Prospects of the international markets and global economy given that
Radyne Corporation depends heavily on international sales.
* A downturn in the evolving telecommunications and Internet industries.
* Risk factors and cautionary statements made in Radyne Corporation's
Annual Report on Form 10-K for the period ended December 31, 2005 and in
its' Quarterly Report of Form 10-Q for the period ended March 31, 2006.
* The effect that acts of international terrorism may have on Radyne
Corporation's ability to ship products abroad.
* Other factors that Radyne Corporation is currently unable to identify or
quantify, but may exist in the future.
Forward-looking statements speak only as of the date the statement was made. Radyne Corporation does not undertake and specifically declines any obligation to update any forward-looking statements.
Contact: Malcolm Persen, Chief Financial Officer, 602.437.9620
Source: prnewswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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