Aeroflex Holding Corp. ("Aeroflex"), a leading global provider of high performance microelectronic components, and test and measurement equipment, today announced the signing of two contracts in its Aeroflex Microelectronic Solutions (“Aeroflex”) business for over $20 million of high-performance, high-reliability mixed-signal semiconductors.
These key contracts demonstrate Aeroflex’s ability to leverage its unique intellectual property into market adjacencies. These awards are for a high-end industrial application and for a next generation medical diagnostics company. “I am extremely pleased with our Aeroflex HiRel team’s performance and success in leveraging our IP to help continue to grow and drive our business into new markets,” said John Buyko, Aeroflex’s Executive Vice President and President of Aeroflex Microelectronic Solutions. “These contracts are a testament to the value of our IP and our world class engineering team. We will continue to leverage our mixed-signal, high-performance analog technology to grow our product portfolio and expand our addressable markets.”
Aeroflex anticipates beginning to deliver on these contracts during the fourth quarter of fiscal 2014 and expect to complete shipments over the subsequent 24 months.
Aeroflex Holding Corp. (aeroflex.com) is a leading global provider of high performance microelectronic components, and test and measurement equipment used by companies in the space, avionics, defense, commercial wireless communications, medical and other markets.
All statements other than statements of historical fact included in this press release regarding Aeroflex’s business strategy, financial results and plans and objectives of its management for future operations are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to Aeroflex or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Aeroflex’s management, as well as assumptions made by and information currently available to its management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, adverse developments in the global economy; changes in government spending; dependence on growth in customers’ businesses; the ability to remain competitive in the markets Aeroflex serves; the inability to continue to develop, manufacture and market innovative, customized products and services that meet customer requirements for performance and reliability; the failure of suppliers to provide raw materials and/or properly functioning component parts; the inability to meet covenants contained in debt agreements; the termination of key contracts, including technology license agreements, or loss of key customers; the inability to protect intellectual property; the failure to comply with regulations such as International Traffic in Arms Regulations, the Foreign Corrupt Practices Act and Conflict Minerals regulations, and any changes in regulations; the failure to realize anticipated benefits from completed acquisitions, divestitures or restructurings, or the possibility that such acquisitions, divestitures or restructurings could adversely affect Aeroflex; the loss of key employees; exposure to foreign currency exchange rate risks; and terrorist acts or acts of war. Such statements reflect the current views of management with respect to the future and are subject to these and other risks, uncertainties and assumptions. Aeroflex does not undertake any obligation to update such forward-looking statements. Any projections in this release are based on limited information currently available to Aeroflex, which is subject to change. Although any such projections and the factors influencing them will likely change, Aeroflex will not necessarily update the information, since Aeroflex will only provide guidance at certain points during the year.