Thomas Equipment's Tcomt, Inc. Receives $1.96 Million DMB Wireless Handset Order
- Initial order part of a $45 million contract -
Last Update: 8:30 AM ET Apr 11, 2007
NEW YORK, Apr 11, 2007 (BUSINESS WIRE) -- Thomas Equipment, Inc. (THME.PK) announced that its Tcomt, Inc. (Tcomt) subsidiary received an initial order for $1.96 million under an ODM contract to supply Digital Multimedia Broadcasting (DMB) wireless handsets. The initial order is part of a $45 million contract for DMB wireless handsets to be delivered through 2007, subject to satisfactory conditions set forth in the contract.
Under the terms of the agreement, shipment of the order is expected to be complete within 60 days. The contract requires Tcomt to deliver goods within defined technical operating specifications. The first order is supported by an irrevocable documentary letter of credit.
"We are pleased to have received this initial order," said Mike Luther, Chief Executive Officer of Thomas Equipment, Inc. "The wireless handset supplier with whom we entered into the agreement has a subscriber base of 65 million users and a total of 13,000 retail outlets. We believe this makes for a significant business opportunity that will solidify Tcomt's presence in the global wireless market."
Digital Multimedia Broadcasting (DMB) is a method of multicasting multimedia content to mobile and portable devices, such as cell phones, satellite or terrestrial services, or a combination of the two. Some DMB-capable receiving devices can render content that is individualized to the location or subscriber. The most popular application of DMB is mobile television. Movies, video clips, music, RSS feeds, and text messages can also be transmitted. Most existing and proposed DMB services operate on a fee-based subscription basis, although advertising has been suggested as a revenue source. A free, state-operated DMB service is available in South Korea.
About Thomas Equipment, Inc.
Thomas Equipment, Inc. has three primary business activities, including: the manufacture of skid steer and other industrial/agriculture equipment, and; the manufacture and distribution of fluid power products, and the manufacture of wireless handsets. The Company operates through three subsidiaries: Thomas Equipment 2004, Inc., Pneutech, and Tcomt.
About Tcomt
Tcomt is an Original Design and Manufacture (ODM) company that designs, markets, and manufactures next generation wireless mobile devices, innovative navigation systems, and other software applications for the telecommunications industry. Founded in 2003, utilizing its staff of over 50 designers, engineers, researchers, technicians and sales support staff, Tcomt is primarily engaged in the design and development of consumer-oriented communication technologies and their related products for major cellular service carriers such as LG Telecom of Korea, China Unicom, and AU KDDI. Tcomt has developed over 22 products for 7 major organizations in the industry, and estimates that over 3 million units of these various products designed by Tcomt have been sold in the Asian cellular wireless marketplace.
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of THM could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, and such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company in our SEC filings.
SOURCE: Thomas Equipment, Inc.
