HACKETTSTOWN, NJ, January 28, 2020 — Vislink Technologies, Inc. (NASDAQ: VISL) announces that, prior to the end of 2019, it completed an additional delivery of equipment ordered on the $2.8 million U.S. Army contract it received last year. The contract, originally announced on July 10, 2019, called for the Army to purchase from Vislink ruggedized, lightweight hand-held receivers designed to display real-time video imagery transmitted by aerial assets or frontline surveillance platforms, as well as related accessories. The Company also confirmed that it has received payment for a substantial portion of the equipment delivered under the contract.
“We are pleased to have completed this next phase of equipment delivery based on our contract with the U.S. Army,” said John Payne, President and COO of Vislink. “This represented the largest portion of the order, and I am proud of the diligent efforts of our team to make it happen before the end of the year. We expect to fulfill the remaining delivery of equipment by the end of this month, which will finalize our supply obligation under the contract.”
About Vislink Technologies, Inc.
Vislink Technologies is a global leader in the development and distribution of advanced communication solutions. Driven by technical excellence that has led the industry for over 50 years, our innovative products and turnkey solutions provide reliable connectivity in the toughest environments across the global live production, military and government sectors. Our solutions include high-definition communication links that reliably capture, transmit and manage live event footage, as well as secure video systems that support mission-critical applications. Vislink Technologies shares are publicly traded on the NASDAQ exchange under the ticker symbol VISL. For more information, visit www.vislink.com.
Note on Forward-looking Statements
This press release may contain projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These statements involve risks and uncertainties, and actual events or results may differ materially. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are the risk that our reduction in operating expenses may impact our ability to meet our business objectives and achieve our revenue targets and may not result in the expected improvement in our profitability, the fact that our future growth depends in part on further penetrating our addressable market and also growing internationally, and we may not be successful in doing so; our dependence on sales of certain products to generate a significant portion of our revenue; the effect of a decrease in the sales or change in sales mix of these products would harm our business; the risks that an economic downturn or economic uncertainty in our key U.S. and international markets may adversely affect demand for our products; difficulty in accurately predicting our future customer demand; the importance of maintaining the value and reputation of our brand; and other factors detailed in our Annual Report on Form 10-K for the year ended December 31, 2018 and our other subsequent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof or as of the date otherwise stated herein. The Company disclaims any obligation to update these forward-looking statements.
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