Baylin Technologies Announces Receipt of $537,000 Purchase Order from US Department of Defense
TORONTO, March 27, 2023 /CNW/ - Baylin Technologies Inc. (TSX: BYL) (the "Company") is pleased to announce that its Advantech Wireless Technologies subsidiary has received a $537,000 (CAD) order from a major US Government Systems Integrator specifically for the US Department of Defense for its frequency converters. This order is the latest installment of an IDIQ (indefinite delivery, indefinite quantity) program for specially designed radio frequency converters.
Frequency converters are essential to facilitating satellite communications. Advantech offers a full line of converters, filters, and solid state power amplifiers, covering all Satcom frequency bands, including those heavily relied on by western governments worldwide.
Baylin is a leading diversified global technology company. The Company focuses on the research, design, development, manufacturing, and sale of passive and active radio-frequency products, satellite communications products, and supporting services.
This press release includes forward-looking information and forward-looking statements (together, "forward-looking statements") within the meaning of applicable securities laws. They are not statements of historical fact. Rather, they are disclosure regarding conditions, developments, events, or financial performance that we expect or anticipate may or will occur in the future, including, among other things, information or statements concerning our objectives and strategies to achieve those objectives, statements with respect to management's beliefs, estimates, intentions and plans, and statements concerning anticipated future circumstances, events, expectations, operations, performance, or results. Forward-looking statements can be identified generally by the use of forward–looking terminology, such as "anticipate", "believe", "could" "should", "would", "estimate", "expect", "forecast", "indicate", "intend", "likely, "may", "plan", "potential", "project", "outlook", "seek", "target", "trend" or "will", or the negative or other variations of these words or other comparable words or phrases, and are intended to identify forward-looking statements, although not all forward-looking statements contain these words.
The forward-looking statements in this press release include statements inferring the likelihood of additional orders for Advantech's frequency converters. Forward-looking statements are based on certain assumptions and estimates made by us in light of the experience and perception of historical trends, current conditions, expected future developments, including projected growth and sales in passive and active radio frequency and terrestrial microwave products and services, and other factors we believe are appropriate and reasonable in the circumstances, but there can be no assurance that such assumptions and estimates will prove to be correct.
Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including the risk factors discussed in the Company's most recent Annual Information Form, which is available on the Company's profile on SEDAR at www.sedar.com. All the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors in this press release. There can be no assurance that the actual results or developments will be realized or, even if substantially realized, will have the expected consequences to, or effects on, the Company. Unless required by applicable securities law, the Company does not intend and does not assume any obligation to update these forward-looking statements.
SOURCE Baylin Technologies Inc.
Investor Relations: Kelly Myles, Marketing and Communications Manager, Baylin Technologies Inc., [email protected]
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