Apr 19, 2002 Minneapolis, MN
The Intercon 1 division of Nortech Systems, Inc. (Nasdaq:NSYS) has reached an agreement to supply Camera Link(TM) cable assemblies to Visionics Corporation (Nasdaq:VSNX) of Minnetonka, Minn. and Jersey City, N.J. These specialized cable assemblies will be used in Visionics' FingerPrinter CMS(TM) fingerprint capture and transmission system.
The FingerPrinter CMS is an integrated live-scan fingerprinting system that captures, prints and transmits forensic-quality fingerprints to law enforcement databases, including the FBI's Automated Fingerprint Identification System (AFIS) database. According to Visionics, the FingerPrinter CMS can be installed in any office and is designed for use on standard tabletops or desktops. To date, FingerPrinter CMS systems have been ordered by more than 50 airports and law enforcement agencies across the United States.
"Visionics has taken a leadership role in developing state-of-the-art identification technology," says Quent Finkelson, Chairman, President & CEO of Nortech Systems. "We're proud to contribute in the production of these fingerprinting systems, which are assisting law enforcement and homeland security efforts."
Intercon 1 is one of only two suppliers in the world recognized by the official Camera Link Committee as an approved supplier of Camera Link(TM) cable assemblies. (The other supplier is a Fortune 200 corporation.) Camera Link is an interface protocol designed to improve compatibility between components of machine vision systems; products adhering to the Camera Link standard are interchangeable with each other.
The Intercon 1 Product Development Group in Baxter, Minn., designed and developed the #89878 High-Flex cable used exclusively in these Camera Link assemblies. This proprietary cable is designated as 'InterFlex' which is a one-million-plus flex cycle cable for industrial applications. In independent OEM testing this cable has surpassed five million flex cycles.
"Since introducing this new product, we've shipped Camera Link assemblies to more than 20 countries around the world," comments Bud Brown, General Manager of Nortech Systems' Intercon 1 division. "The potential market for Camera Link assemblies is growing rapidly." According to Brown, the Camera Link standard was originally established only for industrial applications. Its introduction into the high-tech security industry, through products such as the Visionics FingerPrinter CMS, broadens the potential market for these cable assemblies.
In March, Nortech Systems reported fiscal 2001 net sales from continuing operations of $58.5 million, compared with net sales of $54.8 million for fiscal 2000. For the year ended Dec. 31, 2001, net income from continuing operations was $2.1 million, or $0.89 per share, compared with $2.0 million, or $0.86 per share, for fiscal 2000.
This press release contains forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. While this release is based on management's best judgment and current expectations, actual results may differ based on many factors, including the company's competitive performance and changes in market conditions.
Nortech Systems, Inc. (www.nortechsys.com), based in Wayzata, Minn., is a full-service EMS provider of wire and cable assemblies, printed circuit board assemblies, higher-level assemblies and box builds for a wide range of industries. Markets served include medical, automotive, defense, computer, peripheral, commercial, telecom, government and consumer. Nortech Systems has additional Minnesota facilities in Baxter, Bemidji, Fairmont and Merrifield; and a facility in Augusta, Wis. Nortech Systems is traded on the Nasdaq Stock Market under the symbol NSYS.
