CITY OF INDUSTRY, Calif., June 28, 2007 (PRIME NEWSWIRE) -- Global ePoint, Inc. (Other OTC:GEPT), a leading manufacturer of security technologies for the aviation, law enforcement, commercial and industrial markets, announced today that its aviation division, Global AirWorks, continues to receive, work on and/or complete open orders of various size and scope.
At present, there are approximately $400,000 in open orders in progress within the Global AirWorks division for major commercial carriers as globally diverse as American Airlines and Lufthansa, the largest airline in Europe.
"While these various orders are small when compared to the substantial $8.2 million EFB contract for Thai Airlines announced recently ... they are cumulative and continue to add to the company's bottom line," states Daryl Gates, recently appointed CEO of Global ePoint.
"Global AirWorks is depended upon by a large number of commercial airlines worldwide and, as a leading full-service supplier, it aggressively pursues and consistently fulfills service contracts of all size ... both large and small," Gates adds.
Additionally, parent company Global ePoint Inc. continues to significantly reduce overhead while implementing broad operational restructuring to further the company's aggressive drive to achieve profitability in as short a time as possible.
Progress in this regard will be the subject of forthcoming announcements.
About Global ePoint Aviation Division
The Company's Aviation division contains Global AirWorks, whose primary communications and security products include the Cockpit Door Surveillance System (CDSS), a digital electronic "flight bag" of all flight and on-board manuals and records for pilots, In Flight Entertainment products and Laptop Computer Power System for passengers and flight crews. AirWorks customers include airline major OEMs, such as AT&T Aviation, BAE Systems, L3 Communications, and Rockwell Collins; all major U.S. airlines; and all major international carriers, including ATA, Air China, Bombardier, Finnair, Varig, KLM, Lufthansa, and Cathay Pacific. AirWorks holds more than 40 supplemental type certificates (STC) certifying AirWorks as a Federal Aviation Administration (FAA)-approved manufacturer and installer for a range of interior equipment and systems for a variety of commercial aircraft flying worldwide.
About Global ePoint
Global ePoint designs, manufactures, sells and distributes digital video surveillance systems for the law enforcement, military, aviation and homeland security markets. On the cutting edge of digital technology, Global ePoint is developing new compression technologies and next-generation, secure network digital video systems and servers for a wide range of new markets, concentrating primarily on security and homeland defense applications. The Company also manufactures customized computing systems for industrial, business and consumer markets, as well as other specialized electronic products and systems. Complete vertical integration -- from design and manufacturing to sales and distribution -- allows the Company to capture efficiencies and maintain cost advantages in these growing markets, particularly homeland security. For more information, please visit http://www.globalepoint.com .
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, the Company's plans to (i) introduce cost cutting initiatives, (ii) conduct structural changes in its Tops Digital Technology division, (iii) conduct significant changes in the Company's executive management team, and (iv) obtain economic benefits from the aforementioned actions. Such forward-looking statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, (v) whether and when government mandates are implemented and individual decisions on the part of the world's airlines to install CDSS systems, (vi) whether significant cost savings will result from the planned strategic initiatives and other changes and whether those cost savings will accelerate Global ePoint's progress toward profitability, and (vii) the Company's ability to obtain additional working capital as and when needed. For a discussion of these and other factors that may cause actual events or results to differ from those projected, please refer to the Company's most recent annual report on Form 10-KSB and quarterly reports on Form 10-QSB, as well as other subsequent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.