WEGENER Signs Memorandum of Understanding With International Customer Worth $1.5M
(Marketwire Via Acquire Media NewsEdge) JOHNS CREEK, GA -- (Marketwire) -- 08/20/12 --
Wegener Corporation (OTCQB: WGNR) (PINKSHEETS: WGNR), a leading provider of equipment for television, audio and data distribution networks worldwide, today announced the signing of a Memorandum of Understanding extension from an undisclosed international customer.
The Memorandum of Understanding (MOU) represents a bookable commitment to purchase WEGENER products including iPump 562 Media Players, iPump 6400 Professional Media Servers and Compel® 2 network control system. The WEGENER products will be operated in Compel network controlled environments predominantly via satellite. These networks are capable of supporting live and file-based video applications, such as content distribution, digital signage, and regionalized video insertions.
"We are very excited about our international opportunities. We have very strong relationships with companies that are expanding their businesses using Wegener products. We believe we will continue to see an acceleration of growth outside the US," stated Troy Woodbury, President and CEO of Wegener Corporation. "This is a confirmation that our investment in these products, and a lot of hard work, is paying off."
Based on current volumes, WEGENER expects deliveries to be completed much sooner than the MOU completion date of August 2015.
WEGENER® (Wegener Communications, Inc.), a wholly-owned subsidiary of Wegener Corporation (OTCQB: WGNR), is an international provider of digital video and audio solutions for broadcast television, radio, telco, private and cable networks. With over 30 years experience in optimizing point-to-multipoint multimedia distribution over satellite, fiber, and IP networks, WEGENER offers a comprehensive product line that handles the scheduling, management and delivery of media rich content to multiple devices, including video screens, computers and audio devices. WEGENER focuses on long- and short-term strategies for bandwidth savings, dynamic advertising, live events and affiliate management.
WEGENER's product line includes: iPump® media servers for file-based and live broadcasts; COMPEL® Network Control and COMPEL® Conditional Access for dynamic command, monitoring and addressing of multi-site video, audio, and data networks; and the Unity® satellite media receivers for live radio and video broadcasts. Applications served include: digital signage, linear and file-based TV distribution, linear and file-based radio distribution, Nielsen rating information, broadcast news distribution, business music distribution, corporate communications, video and audio simulcasts.
WEGENER® can be reached at (770) 814-4000 or at www.wegener.com.
WEGENER is on Twitter. Sign up to follow @WEGENER at http://twitter.com/wegener.
WEGENER, COMPEL, COMPEL CONTROL, iPUMP, MEDIAPLAN, UNITY, ASSURED FILE DELIVERY, PROSWITCH, VIDATA, the stylized W-design logo (for WEGENER®), and the stylized C-design logo (for Compel®) are all registered trademarks of WEGENER®. All Rights Reserved.
This news release may contain forward-looking statements within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995, and the Company intends that such forward-looking statements are subject to the safe harbors created thereby. Forward-looking statements may be identified by words such as "believes," "expects," "projects," "plans," "anticipates," and similar expressions, and include, for example, statements relating to expectations regarding future sales, income and cash flows. Forward-looking statements are based upon the Company's current expectations and assumptions, which are subject to a number of risks and uncertainties including, but not limited to: customer acceptance and effectiveness of recently introduced products, development of additional business for the Company's digital video and audio transmission product lines, effectiveness of the sales organization, the successful development and introduction of new products in the future, delays in the conversion by private and broadcast networks to next generation digital broadcast equipment, acceptance by various networks of standards for digital broadcasting, the Company's liquidity position and capital resources, general market conditions which may not improve during fiscal year 2012 and beyond, and success of the Company's research and development efforts aimed at developing new products. Discussion of these and other risks and uncertainties are provided in detail in the Company's periodic filings with the SEC, including the Company's most recent Annual Report on Form 10-K. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results. Forward-looking statements speak only as of the date the statement was made. The Company does not undertake any obligation to update any forward-looking statements.
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