Irvine Sensors Streamlines Operations Through a Reduction in Force

COSTA MESA, Calif., Feb. 2, 2011 /PRNewswire/ -- Following up on its web cast conference call of January 27, 2011, Irvine Sensors Corporation (OTC Bulletin Board: IRSN) released more information on the operational streamlining discussed by Bill Joll, Irvine Sensors' CEO, in that conference call.  Implementation of the organizational realignments outlined by Mr. Joll has now been substantially completed and is expected by Irvine Sensors to produce initial annualized expense reductions in excess of $1.4 million from an approximate 19% reduction in force, consisting primarily of staff not fully utilized in support of the current product and revenue focus.  Some of these staffing-related savings are anticipated to be temporary, however, as the firm plans to expand its product-specific marketing staff during its current fiscal year.  

Mr. Joll said, "We expect that concentrating our direct efforts on our product sales and product-oriented development programs will enable us to shift our operating expenses towards development plus sales and marketing as we move towards being a product driven company.  As I commented in our web cast, we want to diversify the sales of our products into commercial arenas as quickly as possible, both to increase our top line and to reduce our dependency on the government budgetary cycle".

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.  

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Important factors that may cause such a difference include, but are not limited to, our ability to raise additional debt or equity financing that may be needed to address the capital needs of our business plan; the availability of components intended for integration into our products; 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