Irvine Sensors Receives ~ $2.1 Million in Contract Add-Ons

COSTA MESA, Calif., Feb. 10 /PRNewswire-FirstCall/ -- Irvine Sensors Corporation (Nasdaq: IRSN) announced today that it has recently received "add-ons" aggregating approximately $2.1 million to existing development contracts related to high speed processing and electronic security applications.  Included in the new add-ons are additional delivery orders for Irvine Sensors' EAGLE-10™ "blade" product and more funding to continue development of this product family to design speeds of 40 gigabits per second and 100 gigabits per second.  The EAGLE-10 uses Irvine Sensors' chip-stacking technology to achieve high speed processing and has been successfully qualified at its design speed of 10 gigabits per second.  Blades are the industry-leading, standardized hardware configurations that integrate servers, storage, networking and management functions into one information technology chassis.  Very high speed blade processing is an operation of particular interest to network cyber-security applications.  Also included in the recent awards was continued funding of other electronic security applications of Irvine Sensors' technology.

Irvine Sensors Corporation (www.irvine-sensors.com), headquartered in Costa Mesa, California, is a vision systems company engaged in the development and sale of miniaturized infrared and electro-optical cameras, image processors and stacked chip assemblies and sale of higher level systems incorporating such products.  Irvine Sensors also conducts research and development related to high density electronics, miniaturized sensors, optical interconnection technology, high speed network security, image processing and low-power analog and mixed-signal integrated circuits for diverse systems applications.  

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This message may contain forward-looking statements based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us. Words such as ''anticipates,'' ''expects,'' ''intends,'' ''plans,'' ''believes,'' ''seeks,'' ''estimates,'' ''may,'' ''will'' and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, our ability to satisfy the delivery and development requirements of our contract add-ons related to EAGLE Boards and electronic security applications.  Such statements speak only as of the date hereof and are subject to change. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, our ability to raise additional debt or equity financing to meet the working capital needs of our business; market factors impacting the demand for high speed processing and electronic security applications; impact of presently unknown competitive alternatives to our products and technology; government budgetary issues, including constraints, delays and funding priorities; and the general economic, market and political conditions and specific conditions that may impact our operations. Further information on Irvine Sensors Corporation, including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and our other SEC filings that are available through the SEC's website (www.sec.gov).

SOURCE Irvine Sensors Corporation