TORONTO, April 3 /CNW/ - Sirit Inc. ("Sirit") (TSX: SI), a leading
provider of radio frequency identification ("RFID") solutions, announced today
that it has secured an order totaling US$2.0 million from the Orange County
Transportation Authority ("OCTA") in Southern California. The contract calls
for Sirit to deliver its UHF RFID transponder technology over the next
3 years, with deliveries to commence in Q2 2007.
"We are very pleased to be considered by the OCTA as their supplier of
choice for UHF RFID transponder technology," stated John Freund, Vice
President, AVI Solutions, Sirit Inc. "Our product performance, customer
service and dedication to the needs of our tolling customers enable agencies,
such as the OCTA, to place their confidence in Sirit and our products."
"The OCTA is utilizing Sirit's technology on the SR-91 Riverside Freeway
Express Lanes in Southern California. We continue to receive quality products,
software services and technical support from Sirit, which gives us the
confidence to renew our agreement for the following three years," added Kirk
Avila, 91 Express Lanes General Manager.
About Orange County Transportation Authority
The Orange County Transportation Authority (OCTA) is a multi-modal
transportation agency serving Orange County. We keep Orange County moving with
countywide bus and paratransit service, Metrolink commuter-rail service, the
91 Express Lanes toll facility, freeway, street and road improvement projects,
motorist aid services and by regulating taxi operations.
About Sirit Inc.
Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency
Identification (RFID) solutions worldwide. Harnessing the power of Sirit's
enabling-RFID technology, customers are able to more rapidly bring high
quality RFID solutions to the market with reduced initial engineering costs.
Sirit's products are built on more than 13 years of RF domain expertise
addressing multiple frequencies (LF/HF/UHF), multiple protocols and are
compliant with global standards. Sirit's broad portfolio of products and
capabilities are easily customized to address new and traditional contactless
market applications including Near Field Communication, Supply Chain &
Logistics, Cashless Payment (including Electronic Tolling), Access Control,
Automatic Vehicle Identification, Inventory Control & Management, Asset
Tracking and Product Authentication.
Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities
Litigation Reform Act of 1995: Except for the statements of historical fact
contained herein, the information presented constitutes "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievement of Sirit to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Readers are cautioned not to place undue reliance
on these forward-looking statements. Actual results may differ materially from
those indicated by these forward-looking statements as a result of risks and
uncertainties impacting Sirit's business which are discussed in the section
entitled "Description of the Business - Risks Factors" in Sirit's Annual
Information Form dated March 16, 2006 as filed with the securities regulatory
authorities in Canada via SEDAR. Although Sirit has attempted to identify
important factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated, estimated or
intended. Sirit does not undertake any obligation to update any
forward-looking statements contained in this document as a result of new
information, further events or otherwise.
"Sirit", the Sirit Design and "vision beyond sight" are all trademarks of
Sirit Inc. All other names of actual companies and products mentioned herein
may be the trademarks of their respective owners.
For further information:
For further information: Lorelei L. Luchkiw, Sirit Inc., (416) 367-1897