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Irvine Sensors Subsidiary Gets Additional $6.5 Million Order

May 29, 2008 (12:05 PM EDT)
URL: http://www.techweb.com/show-press-release/X698782/irvine-sensors-subsidiary-gets-additional-6-5-million-order.html

COSTA MESA, Calif., May 29 /PRNewswire-FirstCall/ -- Irvine Sensors Corporation today announced that Optex Systems, Inc., its wholly-owned subsidiary, has just received a $6.5 million add-on order from an existing customer. The order is for additional shipments of a current Optex product, for delivery over a three-year period. This latest order is in addition to the approximately $6.7 million of new Optex orders announced by Irvine Sensors earlier this month.

Irvine Sensors Corporation ( http://www.irvine-sensors.com ), headquartered in Costa Mesa, California, is a vision systems company engaged in the development and sale of miniaturized infrared and electro-optical cameras, image processors and stacked chip assemblies, the manufacture and sale of optical systems and equipment for military applications through its Optex subsidiary and research and development related to high density electronics, miniaturized sensors, optical interconnection technology, high speed network security, image processing and low-power analog and mixed-signal integrated circuits for diverse systems applications.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This message may contain forward-looking statements based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "think," "may," "will" and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, our expectations regarding the timing and amounts of shipments under this new order. Such statements speak only as of the date hereof and are subject to change. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, the availability of sufficient working capital to support fulfillment of our contracts; our ability to satisfy the production requirements of Optex's contracts on a timely and cost-effective basis; the availability of components for Optex's products; the impact of evolving technology or any technical challenges that we may encounter in the manufacture or fulfillment of Optex's products; our ability to attract and retain qualified technical personnel; the effects of international conflicts, natural disasters, public health emergencies and other events beyond our control; and the general economic and political conditions and specific conditions that may impact our operations. Further information on Irvine Sensors Corporation, including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and our other SEC filings that are available through the SEC's website ( http://www.sec.gov ).

CONTACT: Investor Relations of Irvine Sensors Corporation, investorrelations@irvine-sensors.com+1-714-444-8718, ; or John Baldisseraof BPC Financial Marketing, 1-800-368-1217, for Irvine Sensors Corporation

Web site: http://www.irvine-sensors.com/