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NASDAQ SYMBOL: EFJI Basic Shares Outstanding: 26.0 million
IPO: January 1997 Diluted Shares Outstanding: 26.0 million
Trailing 4Q Revenues:  $153.9 million 52 Week High -- Low:  $7.10-$2.85
Trailing 4Q Net Loss: $7.7 million Avg. Daily Trading Volume: 174,000
Fiscal Year End: December 31 Book Value/Share: $4.55

EF Johnson Technologies, headquartered in Irving, Texas, is the parent company of three wholly-owned subsidiaries -- E.F. Johnson Company , a supplier of land mobile radio equipment and systems also based in Irving, Texas; Transcrypt International, Inc., a supplier of information security products based in Lincoln, Nebraska; and 3e Technologies International (3eTI), a leading technology company that offers security solutions for wireless platforms such as WiFi, mesh networking and Bluetooth based in Rockville, Maryland.

We design, develop, market and support private wireless communications, including wireless radios, wireless communications infrastructure and systems, and secured communications encryption technologies for analog wireless radios. Our products and services are provided to homeland security, defense, public safety and public service and international markets. We leverage our software and engineering expertise in radio frequency, or RF, applications to provide first responders such as police, fire and other emergency personnel and other governmental users secure, highly reliable wireless radios and systems. The adoption of new digital products and systems is being accelerated by the FCC mandate for narrowband efficiency as well as the need for interoperable communications and information systems related to homeland security. Customers for our products and systems include federal, state and local governmental entities, domestic commercial users, and international entities.

Many federal, state and local agencies operate wireless radio equipment that complies with specifications established by the Association of Public Safety Communications Officials International, Inc., or APCO. The APCO 16 standard, established in 1979, includes recommendations for 800 MHz, or megahertz, transmissions, analog voice modulations and trunking functions for use of the RF spectrum. However, the APCO 16 recommendations permitted development of proprietary systems. As a result, various proprietary APCO 16 technologies evolved in the market. The establishment of proprietary systems effectively eliminated competition severely hampering interoperability and market choice. Consequently, APCO adopted an effort on a more comprehensive standard that would emphasize interoperability.

In 1995, APCO promulgated a new recommended standard known as Project 25. Project 25 specifies features and signaling for narrow band digital voice and data with conventional and trunking modes of operation. The Telecommunications Industry Association, or TIA, participated in the development of these standards, following an industry-sanctioned accredited process. Project 25 was structured to specify details of fundamental wireless radio communications to allow multi-source procurement and interoperability of Project 25 systems.

The Project 25 standard has been adopted by the National Telecommunications and Information Administration, or NTIA. The NTIA controls wireless radio specifications for the federal government and has specified a conversion to narrow band by January 1, 2008. Several U.S. government agencies, including the Departments of Defense, Homeland Security, Interior, Justice and Treasury, have specified a Project 25 requirement for procurements of new wireless radio equipment. However, state and local public safety agencies are not currently required by the FCC or APCO to purchase Project 25 compliant wireless radio systems or otherwise adopt the Project 25 standard. Nevertheless, Project 25 compatibility is a key purchasing factor for state and local public safety and public service wireless radio buyers. Due to the FCC-imposed bandwidth limitations, the demand for Project 25 wireless radio systems is expected to significantly increase.

© 1999-2008  •  EFJohnson Technologies, Inc.  •  1440 Corporate Drive  •  Irving, TX 75038
Phone: 972.819.0700  •  webmaster@efji.com