In c8363 transmitted July 6, 2006 at 11:50e, errors occurred in the
customer list. The third bullet for DAP Technologies should not have been
included in this release and the fifth bullet should have read
"C$2,020,000 from five undisclosed customers." and not "C$670,000 from
four undisclosed customers". Corrected copy follows:
Lyrtech generates C$7,420,000 in new orders
QUEBEC CITY, July 6 /CNW Telbec/ - Lyrtech Inc. (TSX Venture Exchange:
LYT), a worldwide leader in digital signal processing (DSP) technologies, is
pleased to announce that the combined forces of Lyrtech's engineering and
Innovator's electronic manufacturing and assembly capabilities have already
begun to generate significant business.
Since the acquisition of Innovator Electronic Assembly on May 7, 2006,
Lyrtech has received a total of C$7,420,000 in new orders from the following
customers:
<<
- ALSTOM - MP3 players for the new Pendolino trains in Italy and
Switzerland. The MP3 player is a module in ALSTOM's passenger
information, security, and entertainment system. The company placed
an order for 5,500 boards over a year and a half (until December
2007) and the possibility of another 4,500 boards for a total of
10,000 boards over three years, for a total contract potentially
worth about C$1.8 million.
- C-COM Satellite Systems (TSX: CMI) - The iNetVu system offers a
two-way high-speed satellite Internet access solution, no matter
where, for people and businesses on the move. Firm orders and
options, are valued at C$800,000 over a one-year period.
- Verint - New firm orders for two RoHS-ready video surveillance
products with options, for a total of approximately C$2,800,000 over
a one-year period.
- C$2,020,000 from five undisclosed customers.
>>
"The generation of new orders demonstrates that the business rationale
for combining Lyrtech's engineering with Innovator's manufacturing
capabilities was sound," stated Miguel Caron, President and CEO of Lyrtech.
"We remain very positive about the prospects of the business going forward and
the rate of growth and profitability we can achieve."
About Lyrtech
Lyrtech develops and manufactures advanced digital signal processing
solutions for companies worldwide, a vital technology to network and wireless
communications, audio and video processing, as well as electronic systems in
all fields of technology. Lyrtech offers a full range of DSP-FPGA development
platforms, as well as design, prototyping, and manufacturing of electronic
products through its Innovator division.
From the company's state-of-the-art 4,645-m(2) (50,000-ft(2)) facility,
Innovator offers prototyping services, new product introduction services,
turnkey assembly, box build assembly, and other electronic manufacturing
services, providing customers with a quality production run of highly complex
products with a fast turnaround.
Lyrtech works in partnership with industry leaders such as StarCore,
Texas Instruments, The MathWorks, and Xilinx. Lyrtech's customers include many
prestigious names of the consumer electronics, telecommunications, aerospace,
and defense fields such as BAE Systems, Defence Research and Development
Canada (DRDC), the European Aerospace Defence and Space Company (EADS),
Fujitsu, Harris, ITT, Motorola, Neural Audio, NTT DoCoMo, and Samsung-Thales.
TSX Venture Exchange has neither approved nor disapproved the
information contained herein and accepts no responsibility for it.
%SEDAR: 00014715EF
