QUEBEC CITY, Sept. 13 /CNW/ - Lyrtech Inc. ("Lyrtech" or the "Company")
(TSX-V: LYT), a worldwide leader in digital signal processing ("DSP")
technologies with state of the art EMS facilities, announced today that it has
been awarded contracts valued at C$4.6 million since the beginning of the
second quarter 2007, of which C$4.1 million are for development platforms and
turnkey engineering services.
The Company sold for C$3.2 million of specified products developed from
its ODM (Original Design Manufacturer) platform, posted sales of C$850,000 for
its EMS (Electronic Manufacturing Service) division and closed contracts of
C$554,000 for various products developed in-house. Lyrtech has concluded these
agreements with numerous clients such as Texas Instruments Inc., Panasonic
Inc., Sansata Inc. and Object Video Inc. among others.
The work is to be completed over the next twelve months. The new orders
call on the extensive intellectual property of cellular communications
algorithms developed by Lyrtech's engineers.
"These contracts are testimony of our strong business relationship with
Texas Instruments and confirms the efficacy of our strategic positioning in
growing our Original Design Manufacturer (ODM) business," stated Miguel Caron,
President and CEO of Lyrtech. "Our technical expertise has again proven to be
one the most sophisticated in its class, providing a much improved solution
for our customers. Our niche specialization is leading to additional contracts
and business referral which increases the recognition of our unique service
Lyrtech intends to pursue its excellent business relationship with its
various partners and increase its production capacity to meet the growing
demand for DSP products. The Company maintains a close collaboration with
these clients and partners to constantly provide innovative Original Designs
which answers specific needs in high-tech product development.
About Lyrtech Inc.
Lyrtech is a worldwide leader in digital signal processing ("DSP")
technologies with state of the art EMS facilities. The Company develops and
manufactures advanced digital signal processing solutions for companies
worldwide, a vital technology to network and wireless communications, audio
and video processing, as well as electronic systems in all fields of
technology. Lyrtech offers a full range of DSP-FPGA development platforms, as
well as design, prototyping, and manufacturing of electronic products through
its Innovator division.
Lyrtech works in partnership with industry leaders such as Texas
Instruments, The MathWorks, and Xilinx. Lyrtech's customers include many
prestigious names of the consumer electronics, telecommunications, aerospace,
and defense fields such as BAE Systems, Defence Research and Development
Canada (DRDC), the European Aerospace Defence and Space Company (EADS),
Fujitsu, Harris, ITT, Motorola, Neural Audio, NTT DoCoMo, and Samsung-Thales.
For more information please visit www.lyrtech.com.
FORWARD LOOKING STATEMENTS
Certain statements made in this press release regarding Lyrtech's future
operations, expected financial position, future revenues, projected costs,
prospects, plans and objectives are forward-looking statements. These
forward-looking statements, by their nature, necessarily involve risks and
uncertainties that could cause actual results to differ materially from those
contemplated by the forward-looking statements. Lyrtech considers the
assumptions on which these forward-looking statements are based to be
reasonable at the time they were prepared, but cautions that these assumptions
regarding future events, many of which are beyond Lyrtech's control, may
ultimately prove to be incorrect. Factors and risks which could cause actual
results to differ materially from current expectations are discussed in
Lyrtech's annual report for the year ended December 31, 2006. Lyrtech
disclaims any intention or obligation to update or revise any forward-looking
statements. For additional information on risks and uncertainties relating to
these forward-looking statements, investors should consult Lyrtech's ongoing
filings, including its most recent annual report, found on SEDAR at
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
For further information:
For further information: Miguel Caron, President and Chief Executive
Officer, Lyrtech Inc., (418) 877-4644, email@example.com; Alain Landry,
Chief Financial Officer, Lyrtech Inc., (418) 877-4644,
firstname.lastname@example.org; Matthieu Cardinal, Investor Relations, The Equicom
Group Inc., (514) 844-6054, email@example.com