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RELM Wireless Reports First Quarter 2018 Results

WEST MELBOURNE, Florida — May 9, 2018 — RELM Wireless Corporation (NYSE American: RWC) today announced financial and operating results for the first quarter ended March 31, 2018.

 

For the first quarter ended March 31, 2018, revenues increased approximately 59.2% to approximately $11.7 million, compared with approximately $7.4 million for the first quarter of 2017.  The Company recognized operating income of approximately $748,000 for the first quarter of 2018, an increase of approximately 162% from an operating loss totaling approximately $1.2 million for the first quarter last year.  The net loss for the first quarter of 2018 was approximately $443,000, or $0.03 per diluted share, compared with a net loss of approximately $1.3 million, or $0.09 per diluted share, for the same quarter in 2017.

 

The financial results for the first quarter of 2018 include a loss on the sale of securities totaling approximately $849,000, and a loss of approximately $297,000 on an investment.  There were no comparable transactions during last year’s first quarter.

 

The Company had approximately $22.9 million in working capital as of March 31, 2018, of which $15.8 million was comprised of cash, cash equivalents and trade receivables.  This compares with working capital of approximately $26.7 million as of December 31, 2017, of which $12.7 million was comprised of cash, cash equivalents and trade receivables.  As of March 31, 2018, the Company had no borrowings outstanding under its revolving credit facility.

 

Tim Vitou, RELM’s President, commented, “We are very pleased with our operating results for the first quarter, particularly our sales performance, which built upon the momentum of 2017.  This was one of our best first quarters for sales, exceeded only by 2016, which was driven primarily by our TSA contract.  Conversely, the sales for this year’s first quarter were sourced from a wide range of federal, state and international customers.  Operationally, gross profit margins increased significantly compared with last year’s first quarter as we realized some benefits from initiatives in manufacturing operations, as well as a more favorable mix of product sales.  On the strength of these improvements, we generated operating income versus last year’s operating loss.  Furthermore, we continued to invest in engineering, progressing toward the anticipated introduction of a new line of leading-edge products later this year.”

 

Mr. Vitou continued, “Below operating income, we reported a loss on the sale of our remaining shares of Iteris.  This reporting is the result of a change in accounting guidance, and does not reflect the actual economics of our investment.  We originally invested $3.2 million in Iteris stock that was ultimately sold for approximately $11.0 million in cash, which supplemented our working capital and enabled us to make another strategic investment.  Although that investment generated a loss in the first quarter of 2018, we believe the future for this investment is favorable.  Overall, I am encouraged by our outlook for sales and new products, and the trend of improvements in our operations, all of which should yield growth and enhanced shareholder value.”

 

 

 

Conference Call and Webcast

The Company will host a conference call and webcast for investors at 9:00 a.m. Eastern Time, on Wednesday, May 9, 2018.  Shareholders and other interested parties may participate in the conference call by dialing 877-407-8031 (international/local participants dial 201-689-8031) and asking to be connected to the “RELM Wireless Corporation Conference Call” a few minutes before 9:00 a.m. Eastern Time on May 9, 2018.  The call will also be webcast at http://www.bktechnologies.com.  Please allow extra time prior to the call to visit the site and download any necessary software to listen to the Internet webcast.  An online archive of the webcast will be available on the Company’s website for 30 days following the call at http://www.bktechnologies.com.

 

A replay of the conference call will be available one hour after the completion of the call until May 18, 2018 by dialing 877-481-4010 PIN#28104 (international/local participants dial 919-882-2331 PIN#28104).

 

About RELM Wireless

 

As an American manufacturer for over 70 years, RELM Wireless is deeply rooted in the public safety communications industry, manufacturing high-specification communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies.  Advances include a broad new line of leading digital two‑way radios compliant with APCO Project 25 specifications.  RELM Wireless’ products are manufactured and distributed worldwide under BK Radio and RELM brand names. The Company maintains its headquarters in West Melbourne, Florida and can be contacted through its web site at www.bktechnologies.com or directly at 1‑800‑821‑2900.  The Company’s common stock trades on the NYSE American market under the symbol “RWC”.

 

About APCO Project 25 (P25)

 

APCO Project 25 (P25), which requires interoperability among compliant equipment regardless of the manufacturer, was established by the Association of Public-Safety Communications Officials and is approved by the U.S. Department of Homeland Security.  The shift toward interoperability gained momentum as a result of significant communications failures in critical emergency situations.  RELM was one of the first manufacturers to develop P25-compliant technology.

 

Forward-Looking Statements

 

This press release contains certain forward-looking statements that are made pursuant to the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements concern the Company’s operations, economic performance and financial condition and are based largely on the Company’s beliefs and expectations.  These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors and risks include, among others, the following: changes or advances in technology; the success of our LMR product line; successful introduction of new products and technologies; competition in the land mobile radio industry; general economic and business conditions, including federal, state and local government budget deficits and spending limitations; the availability, terms and deployment of capital; reliance on contract manufacturers and suppliers; heavy reliance on sales to agencies of the U.S. government; our ability to utilize deferred tax assets; retention of executive officers and key personnel; our ability to manage our growth; our ability to identify potential candidates for, and consummate, acquisition or investment transactions, and risks incumbent to being a minority stockholder in a corporation; impact of our capital allocation strategy; government regulation; our business with manufacturers located in other countries; our inventory and debt levels; protection of our intellectual property rights; fluctuation in our operating results; acts of war or terrorism, natural disasters and other catastrophic events; any infringement claims; data security breaches and other factors impacting our technology systems; availability of adequate insurance coverage; maintenance of our NYSE American listing; and the effect on our stock price and ability to raise equity capital of future sales of shares of our common stock. Certain of these factors and risks, as well as other risks and uncertainties, are stated in more detail in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and in the Company’s subsequent filings with the SEC.  These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.

  

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(Financial Tables To Follow)

 

 

RELM Wireless First Quarter 2018 Investor Call- May , 10 2018 @ 9AM EST

RELM Investor Conference Call

Join the RELM Wireless First Quarter Investor Call , May , 10 2018 @ 9AM EST.

 

Issuer Direct Corp marked Earnings Call Job 175806 as scheduled.

Notes: Teleconference info:
Presenter: 877-407-8214 | 201-689-7832
Participant: 877-407-8031 | 201-689-8031
Replay: 877-481-4010 | PIN : 28104

Teleconference Call Manager:
Call Management Platform (Internal Use Only): http://pir.incommconferencing.com Conference ID: 13679051

Event link: http://www.investorcalendar.com/event/28104

RELM Wireless Reports 2017 Full Year and Fourth Quarter Results

WEST MELBOURNE, Florida — March 6, 2018 — RELM Wireless Corporation (NYSE American: RWC) today announced financial and operating results for the quarter and year ended December 31, 2017.

For the year ended December 31, 2017, revenues totaled approximately $39.4 million, compared with approximately $50.7 million for 2016. Net loss for the year was approximately $3.6 million, or $0.27 per diluted share, compared with net income of approximately $2.7 million, or $0.19 per diluted share, for the prior year.

For the fourth quarter ended December 31, 2017, revenues totaled approximately $9.4 million, compared with approximately $7.2 million for the fourth quarter of 2016. Net loss for the quarter ended December 31, 2017 was approximately $4.3 million, or $0.31 per diluted share, compared with net income of approximately $92,000, or $0.01 per diluted share, for the same quarter in 2016.

The financial results for the three and twelve month periods of 2017 were unfavorably impacted by certain non-recurring items, including a $3.2 million charge for the write-off of inventory, $1.8 million of incremental costs related to product modifications and upgrades, and $1.4 million for a legal settlement. Also, during the first quarter, we incurred one-time expenses of approximately $0.9 associated with product enhancements, severance arrangements, and the discontinuation of a development project.

The Company had approximately $26.7 million in working capital as of December 31, 2017, of which $12.7 million was comprised of cash and trade receivables. This compares with working capital of approximately $23.4 million as of December 31, 2016, of which $14.4 million was comprised of cash and trade receivables. As of December 31, 2017 the Company had no borrowings outstanding under its revolving credit facility.

Tim Vitou, RELM’s President, commented, “We are encouraged by the sales momentum created during 2017. Totaling near $40 million, this was our second-highest annual sales in over 20 years; exceeded only by 2016, which benefitted from $18 million in sales associated with a single large contract. This performance was the product of broad-based success across different markets and customers. During 2017 we were awarded several multi-year federal contracts and were successful in securing new business with state and local public safety agencies. Supplementing sales, we realized close to $2 million in gains and cash from strategic investments.

Mr. Vitou continued, “Otherwise, 2017 was a year of transformation filled with significant and positive changes. Although some of these changes unfavorably impacted our financial and operating results, we believe they were necessary in order to establish a solid strategic foundation for the company’s future. Early in the year the company’s board and management leadership was changed, and new product development efforts were redirected, launching new initiatives that are crucial to future success while discontinuing others. Thereafter, we took a comprehensive look at our markets, products, technologies and strategic direction, which resulted in some non-recurring expenses and charges, including inventory write-offs, product modification and enhancement costs, legal dispute resolution expenses, and severance. We also invested in programs to improve manufacturing operations and product quality. Ultimately, we believe these actions will prove to be critical, yielding future benefits in the form of product cost savings, while positioning the company for growth and enhanced shareholder value.”

Conference Call and Webcast

The Company will host a conference call and webcast for investors at 9:00 a.m. Eastern Time, on Wednesday, March 7, 2018. Shareholders and other interested parties may participate in the conference call by dialing 877-407-8031 (international/local participants dial 201-689-8031) and asking to be connected to the “RELM Wireless Corporation Conference Call” a few minutes before 9:00 a.m. Eastern Time on March 7, 2018. The call will also be webcast at http://www.bktechnologies.com. Please allow extra time prior to the call to visit the site and download any necessary software to listen to the Internet webcast. An online archive of the webcast will be available on the Company’s website for 30 days following the call at http://www.bktechnologies.com.

A replay of the conference call will be available one hour after the completion of the call until March 18, 2018 by dialing 877-481-4010 PIN#25018 (international/local participants dial 919-882-2331 PIN#25018).

About RELM Wireless

As an American manufacturer for over 70 years, RELM Wireless is deeply rooted in the public safety communications industry, manufacturing high-specification communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies. Advances include a broad new line of leading digital two way radios compliant with APCO Project 25 specifications. RELM Wireless’ products are manufactured and distributed worldwide under BK Radio and RELM brand names. The Company maintains its headquarters in West Melbourne, Florida and can be contacted through its web site at www.bktechnologies.com or directly at 1 800 821 2900. The Company’s common stock trades on the NYSE American market under the symbol “RWC”.

About APCO Project 25 (P25)

APCO Project 25 (P25), which requires interoperability among compliant equipment regardless of the manufacturer, was established by the Association of Public-Safety Communications Officials and is approved by the U.S. Department of Homeland Security. The shift toward interoperability gained momentum as a result of significant communications failures in critical emergency situations. RELM was one of the first manufacturers to develop P25-compliant technology.

Forward-Looking Statements

This press release contains certain forward-looking statements that are made pursuant to the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company’s operations, economic performance and financial condition and are based largely on the Company’s beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others, the following: changes or advances in technology; the success of our LMR product line; competition in the land mobile radio industry; general economic and business conditions, including federal, state and local government budget deficits and spending limitations; the availability, terms and deployment of capital; reliance on contract manufacturers and suppliers; heavy reliance on sales to agencies of the U.S. government; our ability to utilize deferred tax assets; retention of executive officers and key personnel; our ability to manage our growth; our ability to identify potential candidates for, and consummate, acquisition or investment transactions, and risks incumbent to being a minority stockholder in a corporation; impact of our investment strategy; government regulation; our business with manufacturers located in other countries; our inventory and debt levels; protection of our intellectual property rights; fluctuation in our operating results; acts of war or terrorism, natural disasters and other catastrophic events; any infringement claims; data security breaches and other factors impacting our technology systems; availability of adequate insurance coverage; maintenance of our NYSE American listing; and the effect on our stock price and ability to raise equity capital of future sales of shares of our common stock. Certain of these factors and risks, as well as other risks and uncertainties, are stated in more detail in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and in the Company’s subsequent filings with the SEC. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.

 

 

RELM Wireless Reports Third Quarter and Nine-Month 2015 Results

WEST MELBOURNE, Florida — November 4, 2015 — RELM Wireless Corporation (NYSE MKT: RWC) today announced its financial and operating results for the third quarter and nine months ended September 30, 2015.

For the quarter ended September 30, 2015, sales totaled approximately $7.6 million, compared with $8.7 million for the third quarter last year. Net income for the quarter ended September 30, 2015 was approximately $212,000, or $0.02 per basic and diluted share, compared with approximately $656,000, or $0.05 per basic and diluted share, for the same quarter last year.

Gross profit margin for the third quarter 2015 improved to 45.8% of sales, compared with 43.7% for the same quarter last year and 36.2% for the preceding quarter. Selling, general and administrative expenses totaled approximately $3.2 million (41.9% of sales) for the third quarter 2015, compared with $2.8 million (31.8% of sales) for the third quarter last year.

The Company had approximately $27.0 million in working capital as of September 30, 2015, of which $12.1 million was comprised of cash and trade receivables. This compares with working capital of $28.9 million as of December 31, 2014, of which $14.6 million was comprised of cash and trade receivables. The Company had no balance outstanding under its revolving credit facility at September 30, 2015.

RELM President and Chief Executive Officer David Storey commented, “While we continued to experience general softness in the federal, state and local government markets through most of the third quarter, the quarter ended with an announced landmark win when we received awards totaling $26.2 million from the U.S. Department of Homeland Security Transportation Security Administration. Approximately $15.5 million, or almost 60% of the total amount, is specified in delivery orders. The precise timing for fulfilling these orders has not yet been determined as several logistical variables are addressed. Accordingly, the impact to sales revenue in any particular quarter is uncertain. We anticipate, however, that shipments will commence during the first quarter of 2016. The remaining $10.7 million is for four option years, which we believe will be fully exercised moving forward. Our team is excited and ready to impress the TSA user base with world-class products and service. Beyond the obvious benefits of such a substantial award, this is a high-profile opportunity for RELM to more widely cement its reputation as a preferred alternative to the market leader; a company that offers unsurpassed quality, reliability and value.”

Mr. Storey continued, “Operationally for the quarter, better efficiencies and costs drove a near-10% improvement in gross profit margins from the preceding quarter. We also strengthened our sales and engineering team with key talent to better execute our growth objectives and capitalize on our growing sales prospects. Additionally, during the quarter we invested approximately $2.7 million to purchase approximately 1.6 million shares of the common stock of Iteris (NYSE MKT: ITI). This investment is recognized on our balance sheet as of September 30, 2015, including a net unrealized gain after taxes totaling approximately $700,000. We are presently evaluating alternatives with regard to this investment.”

For the nine months ended September 30, 2015, sales totaled approximately $22.8 million compared with $25.6 million for the same period last year. Net income for the nine months ended September 30, 2015 totaled approximately $829,000, or $0.06 per basic and diluted share, compared with $1.8 million, or $0.13 per basic and diluted share, for the same period last year.

Gross profit margins for the nine months ended September 30, 2015 were 42.0% of sales, versus 42.3% of sales for the same period last year. Selling, general and administrative expenses for the nine months ended September 30, 2015 totaled approximately $8.4 million compared with approximately $8.1 million for the same period last year.

Conference Call and Webcast
The Company will host a conference call and webcast for investors at 9:00 a.m. Eastern Time, Thursday November 5, 2015. Shareholders and other interested parties may participate in the conference call by dialing 877-407-8031 (international/local participants dial 201-689-8031) and asking to be connected to the “RELM Wireless Corporation Conference Call” a few minutes before 9:00 a.m. Eastern Time on November 5, 2015. The call will also be webcast at http://www.relm.com. Please allow extra time prior to the call to visit the site and download any necessary software to listen to the Internet webcast. An online archive of the webcast will be available on the Company’s website for 30 days following the call at http://www.relm.com.

A replay of the conference call will be available one hour after the completion of the call until August 13, 2015, by dialing 877-660-6853 (international/local participants dial 201-612-7415) and entering the conference ID# 13624052.

About APCO Project 25 (P25)

APCO Project 25 (P25), which requires interoperability among compliant equipment regardless of the manufacturer, was established by the Association of Public-Safety Communications Officials and is approved by the U.S. Department of Homeland Security. The shift toward interoperability gained momentum as a result of significant communications failures in critical emergency situations. RELM was one of the first manufacturers to develop P25-compliant technology.

About RELM Wireless Corporation

As an American Manufacturer for almost 70 years, RELM Wireless Corporation has produced high specification two way communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies, as well as radios for use in a wide range of commercial and industrial applications. Advances include a broad new line of leading digital two way radios compliant with APCO Project 25 specifications. RELM’s products are manufactured and distributed worldwide under BK Radio and RELM brand names. The Company maintains its headquarters in West Melbourne, Florida and can be contacted through its web site at www.relm.com or directly at 1 800 821 2900. The Company’s common stock trades on the NYSE MKT market under the symbol “RWC”.

RELM Wireless Receives $1.5 Million in Orders from USDA Forest Service

WEST MELBOURNE, FL, February 13, 2018 – RELM Wireless Corporation (NYSE American: RWC) today announced that it received orders totaling approximately $1.5 million dollars from the U.S. Forest Service (USFS). The orders are for RELM’s KNG-Series Digital P-25 portable and mobile radios with accessories. The orders are expected to be fulfilled in the first quarter of 2018.

RELM President Tim Vitou commented, “As we have for so many years, we are proud to support the professionals of the USFS, and look forward to doing so for many years to come. The USFS, and numerous other agencies engaged in wildland fire suppression, have placed their confidence in our BK RADIO products for decades, currently deploying over 70,000 of our radios in harsh and life-threatening conditions. We are pleased to be the radio of choice in supporting their critical mission.”

About RELM Wireless

As an American manufacturer for over 70 years, RELM Wireless is deeply rooted in the public safety communications industry, manufacturing high-specification communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies. Advances include a broad new line of leading digital two way radios compliant with APCO Project 25 specifications. RELM Wireless’ products are manufactured and distributed worldwide under BK Radio and RELM brand names. The Company maintains its headquarters in West Melbourne, Florida and can be contacted through its web site at www.bktechnologies.com or directly at 1 800 821 2900. The Company’s common stock trades on the NYSE American market under the symbol “RWC”.

About APCO Project 25 (P25)

APCO Project 25 (P25), which requires interoperability among compliant equipment regardless of the manufacturer, was established by the Association of Public-Safety Communications Officials and is approved by the U.S. Department of Homeland Security. The shift toward interoperability gained momentum as a result of significant communications failures in critical emergency situations. RELM was one of the first manufacturers to develop P25-compliant technology.

Forward-Looking Statements

This press release contains certain forward-looking statements that are made pursuant to the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company’s operations, economic performance and financial condition and are based largely on the Company’s beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others, the following: changes or advances in technology; the success of our LMR product line; competition in the land mobile radio industry; general economic and business conditions, including federal, state and local government budget deficits and spending limitations; the availability, terms and deployment of capital; reliance on contract manufacturers and suppliers; heavy reliance on sales to agencies of the U.S. government; our ability to utilize deferred tax assets; retention of executive officers and key personnel; our ability to manage our growth; our ability to identify potential candidates for, and consummate, acquisition or investment transactions, and risks incumbent to being a minority stockholder in a corporation; impact of our investment strategy; government regulation; our business with manufacturers located in other countries; our inventory and debt levels; protection of our intellectual property rights; fluctuation in our operating results; acts of war or terrorism, natural disasters and other catastrophic events; any infringement claims; data security breaches and other factors impacting our technology systems; availability of adequate insurance coverage; maintenance of our NYSE American listing; and the effect on our stock price and ability to raise equity capital of future sales of shares of our common stock. Certain of these factors and risks, as well as other risks and uncertainties, are stated in more detail in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and in the Company’s subsequent filings with the SEC. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.

RELM Wireless Year-End 2017 Investor Call – March , 7 2018 @ 9AM EST

RELM Investor Conference Call

Join the RELM Wireless Year-End Investor Conference Call and Webcast Live, March , 7 2018 @ 9AM EST.

Replay Information

The replay will be available beginning approximately 2 hours after the completion of the live event, ending at midnight Eastern Time on March 7, 2018.

Toll Free: 877-407-8031
International: 201-689-8031
Replay Number: 877-481-4010, #25018
Replay International: 919-882-2331, #25018
Webcast: http://www.investorcalendar.com/event/25018
Replay Expiration: March, 7 2018

RELM Wireless Receives $2.0 Million Order from Alberta Health Services

WEST MELBOURNE, FL, February 8, 2018 – RELM Wireless Corporation (NYSE American: RWC) today announced that it has received a purchase order totaling approximately $2.0 million from Alberta Health Services (AHS) for P25 800MHz portable and mobile radios with accessories. The order is anticipated to be fulfilled during the first quarter of 2018.

AHS provides health services throughout Alberta and is the largest provider of health care in Canada. The organization presently deploys a total of approximately 3,000 two-way radios in a range of applications such as hospitals, urgent care centers, psychiatric facilities and emergency vehicles.

RELM President Tim Vitou commented, “We are pleased and excited to continue our relationship with AHS, which now spans more than three years and has resulted in the deployment of over a thousand of our radios and accessories. International business is a key strategic objective for us, and our established beachhead in Canada with AHS is a cornerstone of our plans for sales growth moving forward.”

About RELM Wireless

As an American manufacturer for over 70 years, RELM Wireless is deeply rooted in the public safety communications industry, manufacturing high-specification communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies. Advances include a broad new line of leading digital two way radios compliant with APCO Project 25 specifications. RELM Wireless’ products are manufactured and distributed worldwide under BK Radio and RELM brand names. The Company maintains its headquarters in West Melbourne, Florida and can be contacted through its web site at www.bktechnologies.com or directly at 1 800 821 2900. The Company’s common stock trades on the NYSE American market under the symbol “RWC”.

About APCO Project 25 (P25)

APCO Project 25 (P25), which requires interoperability among compliant equipment regardless of the manufacturer, was established by the Association of Public-Safety Communications Officials and is approved by the U.S. Department of Homeland Security. The shift toward interoperability gained momentum as a result of significant communications failures in critical emergency situations. RELM was one of the first manufacturers to develop P25-compliant technology.

Forward-Looking Statements

This press release contains certain forward-looking statements that are made pursuant to the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company’s operations, economic performance and financial condition and are based largely on the Company’s beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others, the following: changes or advances in technology; the success of our LMR product line; competition in the land mobile radio industry; general economic and business conditions, including federal, state and local government budget deficits and spending limitations; the availability, terms and deployment of capital; reliance on contract manufacturers and suppliers; heavy reliance on sales to agencies of the U.S. government; our ability to utilize deferred tax assets; retention of executive officers and key personnel; our ability to manage our growth; our ability to identify potential candidates for, and consummate, acquisition or investment transactions, and risks incumbent to being a minority stockholder in a corporation; impact of our investment strategy; government regulation; our business with manufacturers located in other countries; our inventory and debt levels; protection of our intellectual property rights; fluctuation in our operating results; acts of war or terrorism, natural disasters and other catastrophic events; any infringement claims; data security breaches and other factors impacting our technology systems; availability of adequate insurance coverage; maintenance of our NYSE American listing; and the effect on our stock price and ability to raise equity capital of future sales of shares of our common stock. Certain of these factors and risks, as well as other risks and uncertainties, are stated in more detail in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and in the Company’s subsequent filings with the SEC. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.

RELM Wireless Declares Quarterly Dividend of $0.02 per Share

WEST MELBOURNE, FL, December 7, 2017 – RELM Wireless Corporation (NYSE American: RWC), today announced that today its Board of Directors declared a quarterly dividend of $0.02 per share of the Company’s common stock, payable on January 16, 2018 to shareholders of record of the Company’s common stock as of the close of business on January 2, 2018.

Kyle Cerminara, Chairman of the Board, said, “We are pleased to continue our capital return program with the declaration of a dividend for the seventh consecutive quarter.  The capital return program also includes stock repurchases.   We believe the Company has ample working capital to sustain the program while funding our development and growth objectives.”

RELM Wireless Named To Contract Issued By U.S. Department of the Interior

WEST MELBOURNE, FL, October 31, 2017 – RELM Wireless Corporation (NYSE American: RWC) today announced that it has been named as a supplier under a contract issued by the U.S. Department of the Interior (DoI). The contract is for the procurement of a range of equipment, including P25 digital two-way radios and related equipment, by all agencies of the DoI. The maximum total value of the contract is $3 billion with a five-year term commencing on October 1, 2017, and ending on September 30, 2022. The contract names a select group of suppliers, including RELM, that meet established qualifications. The contract does not specify or guarantee purchase dates or quantities of equipment from any particular named supplier.

RELM President Timothy Vitou commented, “We are pleased to continue our longstanding support of the DoI, which spans more than 20 years. This contract, as well as the recently announced BPA from the U.S. Forest Service, and the extended duration of these relationships, serve as a testament to the confidence emergency responders have in our products As we have for almost three decades, RELM is proud to support the forest service wildland firefighting professionals. With so many lives on the line in critical situations, ours is a support role that the entire company takes very seriously, and one that we value a great deal. The USFS has relied upon thousands of our BK Radio products in wildland fire suppression efforts over the years; first deploying our E-Series analog radios, our G-Series analog radios, our P-25 digital D-Series radios, and more recently migrating to our P25 digital KNG and KNG2-Series radios. We are committed to our relationship with the USFS for the full term of this BPA and for many years thereafter.”