BELTSVILLE, Md., March 30, 2005 (PRIMEZONE) -- LMIC (OTCBB:LMII), an automated electronics manufacturing services company, announced here today that it has received a purchase order to provide mobile phones and accessories valued at $2.5 million, to GSR Mobile, a prepaid cell phone provider in the United States. This order, directly from GSR Mobile, is part of the $50 million agreement with Aldeburgh LLC, a technology distribution company, to exclusively use LMIC to supply GSR Mobile with cell phones and accessories over a two-year period first announced on January 26th, 2005.
Under the terms of the purchase order, GSR has agreed to provide LMIC with a sufficient combined down payment and credit facility to enable LMIC to complete the production and shipment of this initial order.
About LMIC, Inc.
LMIC is an ISO 9001-2000 facility that provides integrated design, manufacturing and post-production services to small- and mid-sized electronic original equipment manufacturers (OEMs). The company operates an 85,000 square foot, state-of-the-art manufacturing facility in Beltsville, MD. The company's customers include networking, telecommunications, defense electronics, industrial controls, and medical technology organizations, both private and public.
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding LMIC, Inc. and its subsidiaries' and affiliates' (collectively, the "Company) expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. Such forward-looking statements are inherently uncertain, and readers must recognize that actual results may differ materially from the Company's expectations. The Company does not undertake a duty to update such forward-looking statements. Factors that may cause actual results to differ materially from those in the forward-looking statements include the Company's ability to fund its operations, the Company's ability to obtain waivers of existing defaults under its debt documents, actions of the Company's competitors, and changes in general economic conditions. Many of these factors are outside of the Company's control.