OSICOM UNIT TO PROVIDE NETWORK INTERFACE ADAPTERS FOR EDS
$332 MILLION PCLAN+ CONTRACT WITH U.S. NAVY
SANTA MONICA, Calif., June 3 /PRNewswire/ -- Osicom Technologies, Inc. (Nasdaq: FIBR) today announced that the RNS division of its wholly-owned Meret Communications subsidiary has been selected by Electronic Data Systems Corporation (EDS) (NYSE: GME) to supply FDDI (fiber distributed data interface) network interface adapters for PCI-based computing platforms for EDS's $332 million PCLAN+ contract with the U.S. Navy to provide local area and enterprise network products and services for the federal government. The Indefinite Delivery Requirements contract awarded to EDS is for one year with four option years. Osicom estimates that sales of RNS network interface adapters under the contract could potentially reach $2 million per year.
The PCLAN+ contract, unlike the predecessor PCLAN program awarded in 1991, focuses on meeting the higher network performance required to upgrade existing Navy local area networks (LANs). Under the five-year contract, EDS will supply Navy buyers with up to 100,000 servers, related LAN equipment, communications software, and integration services. In addition, through an agreement by the General Services Administration to increase the delegation of procurement authority by 20%, all federal government agencies are eligible to purchase equipment, software, and services under the contract.
"RNS has been a pioneer in developing high-performance network adapters," said Sharon Chadha, Osicom chief executive officer. "They were one of the first with a commercially available FDDI adapter and first to ship PCI/FDDI with common network operating system drivers. We're pleased that EDS has selected the latest generation RNS network interface products to enable the Department of Defense and other government customers to build and improve their networks."
Osicom Technologies is a Santa Monica, California based company engaged in design and manufacture of digital video switches and routers for the telecommunications industry and, with its acquisition of Rockwell Network Systems, is now an industry leader in providing high-speed Local Area Network solutions and connections for the high-growth Fast Ethernet, FDDI, and ISDN networking markets. The company also produces a range of fiber optic and wireless communications products for use in broadcast, cable, and closed circuit television; interactive teleconferencing and distance learning; computer graphics; medical imaging; surveillance; and defense and aerospace applications.
Except for the historical information contained herein, the matters discussed in this news release are forward looking statements that involve risks and uncertainties. The forward looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation the company's ability to develop, produce, and market products that incorporate new technology in a timely basis, that are priced competitively and achieve significant market acceptance; higher expenses associated with the development and marketing of new products; changes in product mix; risks of dependence on third party component suppliers; inventory risks due to shifts in market demand; the presence of competitors with broader product lines and greater financial resources; intellectual property rights and litigation; needs for liquidity; and the other risks detailed from time to time in the company's SEC reports, including the report on Form 10-KSB for the year ended Jan. 31, 1996.
/CONTACT: The Catalyst Group, LLC, Investor Relations, 800-400-5565/
CO: Osicom Technologies, Inc.; Meret Communications ST: California IN: CPR SU: CON
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