eLinear, Inc. (AMEX:ELU) announced today that it and its wholly owned subsidiary, eLinear Solutions, have been awarded a $580,000 contract to deploy a Cisco IP Telephony System. This revenue will be realized during the fourth fiscal quarter of 2005. This implementation is for one of the world's largest independent oil and gas exploration and production companies, which is headquartered in Houston, Texas. The aforementioned E&P firm conducts exploration, production and development operations in the U.S., Canada, the United Kingdom, Africa, China and South America. Michael Lewis, President & Chief Executive Officer of eLinear, stated, "We are very excited to see that our customer's satisfaction in the initial $100,000 project, which was unrelated to this Cisco implementation, has now led to expanded opportunities. Once our customers engage us in a deployment, they are able to experience the value of our solutions resolving their business issues. Consequently, we believe opportunities like this will surface over and over again both within our current account base and with targeted prospects. Stephen Lurie, eLinear's IP Convergence Practice Manager, stated, "This win is another example of our team's ability to successfully cross-sell a variety of networking solutions to some of the most notable companies in the world. After talking to a number of Cisco partners, the customer felt our expertise, diverse background and our global VoIP experience could take them to the next stage of their IP Telephony rollout." eLinear previously announced revenue guidance of $32,000,000 to $36,000,000 for fiscal 2005 and targets reaching operating profitability during the fourth quarter of 2005. About eLinear, Inc. eLinear, Inc. is a communications, security and compliance company providing integrated technology solutions including information and physical security, IP Telephony and network and storage solutions infrastructure. Typically, the company's customers are Fortune 2000 and small to medium sized business organizations. eLinear's services are offered to companies seeking to increase productivity or reduce costs through investing in technology. eLinear has a national and international footprint and has its headquarters in Houston, Texas. For more information, see http://www.elinear.com. Safe Harbor Statement This press release contains statements that may constitute forward-looking statements, including the company's ability to realize the projected revenues from the newly announced project orders and the future strength of the company's business and industry. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about eLinear's future business and financial results, refer to eLinear's Annual Report on Form 10-KSB for the year ended December 31, 2004, which was filed with the SEC on March 18, 2005, eLinear's Q1 2005 Report filed with the SEC on May 20, 2005, and eLinear's Q2 2005 Report filed with the SEC on August 12, 2005. eLinear undertakes no obligation to update any forward-looking statement that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.
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