AMIRIX Enjoys Banner Year

HALIFAX, NOVA SCOTIA October 19, 2004 - AMIRIX Systems Inc., a leading provider of custom electronic design services, announced operating revenue of over $8-million for fiscal year 2003-2004, its best year for earnings from operations in its 23-year history.

The key to this year's success was complementing traditional design services with tangible products by acquiring Vemco, a well-established product company, and by investing in internal product development. The company's design services business also expanded its market focus to include defence/aerospace, medical devices, industrial controls and telecommunications.

"Vemco, our product division, achieved record sales this year and we anticipate next year to be even better with growing emphasis on marine research and through the introduction of new, industry-leading products," said Sandra Greer, President & CEO of AMIRIX. "Also, investment in new product development across many industries is on the upswing. We are seeing the impact on our design services business as more companies are engaging AMIRIX to help them bring new products to market."

Less than a year after it's official launch, the AMIRIX-developed AP100, a circuit board that helps designers meet the challenges of using the latest FPGA technology, is also enjoying steadily increasing sales.

"By adding a successful product division to our core design services capabilities, we have built a solid foundation for growth," added Greer. "Along with seeking new opportunities and markets for our existing business, we are always looking to expand by acquiring other complementary business units."

About AMIRIX Systems Inc.
Founded in 1981, AMIRIX provides custom embedded systems and electronic design services to help companies develop new products and enhance existing ones. Core capabilities include high performance board design and integration, programmable logic design, and embedded software design. AMIRIX solutions are flexible, time-to-market efficient, cost effective, and are found in defense, aerospace, medical applications and communications platforms. AMIRIX is also one of just seven Xilinx Certified Diamond XPERTS third party design partners.

About Vemco Division
For over 20 years, VEMCO has designed and manufactured underwater acoustic telemetry equipment for fisheries biologists and aquatic research specialists. Exporting to over 50 countries worldwide, VEMCO's primary area of expertise lies in providing customized underwater acoustic telemetry and tracking equipment to scientists studying the behaviour patterns of marine and freshwater animals. More information can be found at www.vemco.com.

For more information, contact:
Nancy Edwards
AMIRIX Systems Inc.
Tel: (902) 450-1700 ext. 234
Contact AMIRIX

back