Company News

Dec. 15, 2006
CONTRACTSWPCS International, Inc.—Announced that it has recently been awarded a variety of new contracts totaling approximately $3.8 million. Some of the new contracts awarded to WPCS, through its subsidiaries, include projects to be completed for The ...

WPCS International, Inc.Announced that it has recently been awarded a variety of new contracts totaling approximately $3.8 million. Some of the new contracts awarded to WPCS, through its subsidiaries, include projects to be completed for The Department of Emergency Management/Homeland Security, US Army/Fort Dix, Washington University Medical Center, Black & Veatch, the VCI Group, FDH Engineering, Turf Care, the Manatee County Government, and the Blackstone Winery.

In addition to the above mentioned projects, WPCS, through its Heinz Corp. subsidiary, was awarded a contract from a wireless carrier to upgrade its in-building wireless equipment for a major convention center.

Triton Electron Technology Division—Has been awarded a five-year contract valued in excess of $6.3 million by the Naval Surface Warfare Center Crane Division for the repair, remanufacture, or replacement of Traveling Wave Tubes in support of the AN/ALQ-126B ECM System.

GigaBeam Corp.—Announced results for the third quarter ended September 30, 2006.

Revenues for the third quarter of 2006 were $2,045,941, compared to $371,238 for the third quarter of 2005. The net loss allocated to common shareholders for the third quarter of 2006 was $6,689,954, compared to $3,458,679 for the comparable quarter in 2005. Net loss allocated to common shareholders for the third quarter of 2006 includes a charge for a beneficial conversion feature related to the issuance of GigaBeam’s Series C convertible preferred stock of $2,252,398; preferred stock dividends of $319,067; and a share-based compensation expense of $725,481 reflecting the adoption of SFAS 123®.

Ansoft Corp.—Announced financial results for its second quarter of fiscal 2007 ended October 31, 2006.

Revenue for the second quarter totaled $20.5 million, an increase of 14 percent compared to $18 million reported in the previous fiscal year’s second quarter.

On a generally accepted accounting principles (GAAP) basis, net income for the second quarter was $3.7 million, or $0.14 per diluted share compared to GAAP net income of $4.1 million, or $0.16 per diluted share in the previous fiscal year’s second quarter. Net income for the prior fiscal year’s second quarter included a tax benefit of $1.0 million, or $0.04 per diluted share for a federal tax credit and refund related to foreign taxes previously paid.

CSR—Released its unaudited financial results for the third quarter of 2006, reporting strong growth in quarterly revenues, up 32 percent to $214.1 million, and operating profit, up 14 percent to $51.0 million, compared with the same period in 2005.

During the third quarter of 2006, CSR continued to grow its unit share of the Bluetooth market to exceed 50 percent

and achieved nearly half of all GSM handset design wins and 94 percent of all headset design wins. The company also launched its UniVox VoWiFi phone reference design, demonstrating a broadening of its non-Bluetooth portfolio and supporting its UniFi single-chip Wi-Fi offering.

EMS Technologies, Inc.—Announced that it has signed a definitive agreement with Andrew Corp. for Andrew to buy its EMS Wireless division.

The purchase price is $50.5 million, payable in cash at closing. The parties plan to close the transaction within 30 to 60 days, subject to the parties satisfying their respective closing conditions and obtaining certain required third-party consents.

Under the sales agreement, Andrew would acquire all of the operating assets, including intellectual property and customer good will, associated with the Wireless division’s business operations, and would assume substantially all of its operating liabilities. Following the sales transaction, EMS and Andrew would make subsequent cash adjustments to reflect pre-closing changes in certain current assets and liabilities. In addition, EMS would remain liable for certain warranties and representations contained in the sales agreement.

iSuppli Corp. and Data Garage, Inc.—Have combined forces to create an analysis firm that will cover the electronics industry in Japan and around the world. Quintron—Announced that its DICES III system was the communications system of choice for the Sea Launch Zenit 3SL rocket launch on October 30, 2006 to deploy the XM 4 satellite nicknamed “Blues.” The XM satellites serve seven million subscribers in the US and Canada, beaming signals to special radios installed in their cars and for portable units. The October 30th flight was the 23rd for Sea Launch since 1999, all of which relied on the Quintron DICES III system for its communications.

Endwave Corp.—Announced that it has completed the relocation of its corporate headquarters. The new contact information for Endwave is: Endwave Corp., 130 Baytech Dr., San Jose, CA 95134; (408) 522-3100, FAX: (408) 5223197, Internet:

Kulicke & Soffa Industries, Inc.—Has closed the previously announced purchase of Alphasem, a supplier of die-bonder equipment, from Dover Technologies International, Inc., a subsidiary of Dover Corp. The purchase price was $27.1 million in cash, after a working capital adjustment and subject to further post-closing adjustments.

UltraSource, Inc.—Announced the expansion of their cleanroom facilities at their corporate headquarters and manufacturing facility in Hollis, NH. Citing increased customer opportunities and business expansion, UltraSource has commenced building an additional 1500 sq. ft. of cleanroom manufacturing space. The added cleanroom space brings the total to cleanroom space at UltraSource to 6000 sq. ft. and will allow for optimization of lean manufacturing cells to enhance manufacturing productivity and product flow.

The expanded facility will be divided equally into a class 1000 cleanroom and class 100,000 cleanroom. Official opening of the expansion is slated for December 2006.

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