Penny Stock News: EMRISE Announces First Quarter 2011 Financial Results

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DURHAM, N.C., May 16, 2011 /PRNewswire/ — EMRISE CORPORATION (OTCBB: EMRI), a multi-national manufacturer of defense, aerospace and industrial electronic devices and communications equipment, today announced its financial results for its first quarter ended March 31, 2011.

EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said, “We recorded a solid year-over-year increase in sales in this year’s first quarter, which resulted in overall net sales for the quarter that were consistent with our earlier estimates.  I am also pleased to report that even though the first quarter of each year is typically the Company’s slowest sales quarter, we are on plan and believe we are well positioned to achieve our goals for the year.   As a result, I am able to reconfirm our previous guidance that we expect revenue for 2011 will be between $33 million and $35 million.

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