MONTREAL, Aug. 3 /CNW Telbec/ - Mitec Telecom Inc. ("Mitec") (TSX: MTM), a leading designer and manufacturer of mobile wireless, fixed wireless, broadcast and satellite components announced today it has received the first in a series of orders from a large network operator for its new MTX series VSAT Block Upconverter. Deliveries are expected to take place in Q2, fiscal 2011 and additional orders are expected from this customer throughout the year.
In Q4, fiscal 2009, Mitec officially launched this new series of products and began to phase out its legacy line of WTX Series Block Upconverters. Following significant investment in R&D and marketing, the MTX product line has differentiated Mitec from its competition.
The customer is currently involved in a network expansion project in Africa, where there is significant demand for 2-way satellite communication to support the growth of multimedia, voice and data services in geographically challenging areas.
Mitec's VSAT division generally demonstrates consistent revenues quarter over quarter because network build-outs are planned well in advance and operators consider Mitec's components the backbone of these expansion projects. This order was generated as a result of the performance standard that the new MTX product line established in the market.
"It is encouraging to us that in addition to this customer placing a series of orders which generated significant revenues for Mitec in 2008 for a built-out opportunity in Africa, that they continue to adopt Mitec's state-of-the-art design technologies for their respective projects and have accepted our new MTX product line as their standard for future build-outs", commented Robert Mitchell, Vice-President, Global Marketing and Sales.
Mitec expects continued success increasing its penetration into the VSAT market with the launch of these new products, which have generated better than anticipated interest and have been accepted as the industry standard going forward.
About Mitec Telecom Inc.
Mitec is a leading designer and provider of radio frequency (RF) products for the telecommunications and satellite communications industries, as well as a variety of other sectors. Mitec sells its products worldwide to network providers for incorporation into high-performing wireless networks used in voice and data/internet communications. Headquartered in Montreal, Canada, Mitec also operates facilities in California and China. Mitec is listed on the Toronto Stock Exchange under the symbol MTM. On-line information about Mitec is available at www.mitectelecom.com.
Due to confidentiality provisions, Mitec is generally not able to disclose the names of its major customers or the financial data related to sales transactions. Certain statements in this release, including statements regarding future results and performance, are forward-looking statements based on current expectations. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, the effect of general economic conditions, decreases in demand for Mitec's products, fluctuations in selling prices and adverse changes in general market and industry conditions and other factors listed in Mitec's public filings with the appropriate securities regulatory authorities.
SOURCE Mitec Telecom Inc.
For further information: For further information: Mr. Jeffrey Mandel, Executive Chairman, and Director, Investor and Corporate Relations, Tel.: (514) 694-9000, firstname.lastname@example.org; Source: Mitec Telecom Inc.