International Displayworks (NASDAQ:IDWK)
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From Jan 2020 to Jan 2025
International DisplayWorks, Inc. (IDW) (NASDAQ:IDWK)
announced today that it has been awarded two satellite radio
contracts; one from a major automotive parts supplier for Film
SuperTwist Nematic (FSTN) displays to be used in a new automotive
satellite radio product, and the other from a major satellite radio
provider for FSTN units to be used in a new portable satellite radio
product.
IDW is working with the customers to define final requirements and
expects to start shipping displays for the automotive parts supplier
during the third fiscal quarter of 2006 while volume production has
already begun for the satellite radio provider. Forecasted revenue for
these projects over the next 12 months is expected to be approximately
$7 million, subject to IDW's ability to continuously meet the
customer's forecasted demand and quality requirements.
Steve Gerisch, Vice President of Sales of International
DisplayWorks, commented, "This represents our first major automotive
win and was enabled by IDW recently achieving ISO/TS16949
certification, the most widely recognized automotive standard in
Europe and the USA. In addition, we continue to win business in the
area of portable media devices, in this case a portable satellite
radio. MP3 players and Satellite Radio products represent two of the
fastest growing consumer electronics markets, and IDW has developed
significant relationships and built a strong reputation for quality,
service and price within this segment. These wins further our overall
market strategy whereby we target many different vertical markets in
order to diversify our business."
About International DisplayWorks
International DisplayWorks, Inc. is a manufacturer and designer of
high quality liquid crystal displays, modules and assemblies for a
variety of customer needs including OEM applications. IDW operates
466,000 square feet of manufacturing facilities in the People's
Republic of China (PRC). Sales offices are located in US, Europe, Hong
Kong, Singapore, and China. Copies of IDW's 10-K and other documents
as filed with the SEC are available through a link on our web site:
www.idwk.com.
NOTE: The foregoing is news relating to International
DisplayWorks, Inc. ("IDW") and contains forward-looking statements,
which are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements.
Specific to this release IDW's inability to meet the customers'
purchase order and quality requirements, changes in market conditions
for the product or other factors beyond IDW's control could result in
a materially different revenue outcome. When used in this release, the
words "anticipate," "believe," "estimate," "expect" and similar
expressions as they relate to IDW or its management, including without
limitation, IDW and its subsidiaries, are intended to identify such
forward-looking statements. IDW's actual results, performance or
achievements could differ materially from the results expressed in, or
implied by these forward-looking statements. For more detailed
information the reader is referred to IDW's 10-K and other related
documents filed with the Securities and Exchange Commission. This does
not constitute an offer to buy or sell securities by the Company and
is meant purely for informational purposes.