MANKATO, Minn., Oct. 23 /PRNewswire-FirstCall/ -- Winland Electronics, Inc. (AMEX:WEX), a leading designer and manufacturer of custom electronic control products and systems, today announced that it has received new purchase orders and extensions from customers for delivery during the next 12 months. In aggregate, these orders and extensions total approximately $11.6 million.
The orders include: -- A $5.6 million order extension received during September from one of
the Company's larger customers. This purchase order will cover all
expected shipments through late 2008. -- A new medical product design project that is slated for production to
commence late in the fourth quarter or early in the first quarter of
2008. Winland has received an initial order for approximately $1
million in support of one year of production. -- A commitment from another significant client for 12 months continuation
of business valued at approximately $5 million based on initial
forecasts provided by the customer. Lorin Krueger, Winland's Chief Executive Officer, commented, "I am pleased to receive order and contract renewals from several significant new and loyal current EMS customers, demonstrating our ability to deliver high quality design, manufacturing and assembly services on time and on budget. I am particularly gratified to receive commitments for approximately one million dollars from a new customer, further expanding our EMS customer base and diversifying our revenue. Our sales staff and our customer management team continue to show progress in meeting customer and market needs with our world-class electronic manufacturing and design services." About Winland Electronics Winland Electronics is an electronic manufacturing services (EMS) company, providing product development and manufacturing expertise and innovation for more than 20 years. Winland also markets proprietary products for the security/industrial marketplace. Winland's product development offering includes program management, analog circuit design, digital circuit design, printed circuit board design and embedded software design. Winland differentiates itself from the contract manufacturer competition with its integrated product development and manufacturing services to offer end-to-end product launch capability, including design for manufacturability, design for testability, transition to manufacturing and order fulfillment. Winland's core competency is delivering time-to-market through superior program management, experience, integrated development processes, and cross-functional teams. Winland Electronics is based in Mankato, MN.
Cautionary Statements Certain statements contained in this press release and other written and oral statements made from time to time by the Company do not relate strictly to historical or current facts. As such, they are considered forward-looking statements, which provide current expectations or forecasts of future events. The statements included in this release related to a purchase order from a new customer and extensions from two current customers amounting to $11.6 million dollars in projected revenues during the next 12 months are forward looking statements. These statements involve certain risks and uncertainties, including the risks that: (i) a customer will cancel all or part of its order which it is entitled to do, subject to the payment of a penalty, under its purchase agreement with the Company; and (ii) the Company will be unable to design and manufacture the product of the new customer to its contractual specifications. Consequently, no forward looking statements can be guaranteed and the actual revenues generated by the new order and extensions of current orders may be significantly less than $11.6 million.
CONTACT:
Lorin E. Krueger Brett Maas or Cameron Donahue
Chief Executive Officer Hayden Communications
(507) 625-7231 (651) 653-1854
http://www.winland.com/ DATASOURCE: Winland Electronics, Inc.
CONTACT: Lorin E. Krueger, Chief Executive Officer of Winland Electronics, Inc., +1-507-625-7231; or Brett Maas or Cameron Donahue, both of Hayden Communications, +1-651-653-1854, for Winland Electronics, Inc.
Web site: http://www.winland.com/
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