Ef Johnson Technologies, Inc. (1023516) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2009

Exhibit 99.1

EF Johnson Technologies, Inc. Announces

2009 Financial Results

Irving, TX – March 31, 2010 – EF Johnson Technologies, Inc. (NASDAQ: EFJI) today announced its results for the fourth quarter and year ended December 31, 2009.

Revenues for the fourth quarter of 2009 were $16.3 million, a decrease from $25.3 million for the same period of 2008.  The net loss for the fourth quarter of 2009 was $9.6 million, or $0.36 per share, compared to a net loss of $20.8 million, or $0.79 per share, for the same period in the prior year.  This decline in fourth quarter revenue was primarily due to delays in shipping land mobile radio (“LMR”) products to certain federal, state and local customers.

Michael E. Jalbert, chairman and chief executive officer of EFJohnson Technologies, Inc., said, “We were very disappointed in our fourth quarter results.  We had multiple orders in backlog at the end of the quarter that could not ship due to specific customer change requests.  So while over $10 million of these orders shipped in the first quarter of 2010, we were not able to achieve our profitability targets for 2009.”

Revenues for 2009 were $92.3 million, a decrease from $126.3 million for 2008. As noted above, the decline was attributable to lower federal, state and local revenues resulting from delays in shipments of LMR radio products from backlog into 2010 and delays in finalizing certain re-banding agreements. The LMR revenue decline was partially offset by the increases in our secure broadband revenue, driven by significant deliveries under key programs to the Department of Defense.

Gross profit was $27.9 million for 2009, a decrease from $42.7 million for 2008. The decrease was mainly attributable to the decline in revenue volume coupled with a write off of approximately $4.1 million “X”-platform LMR inventory during the fourth quarter of 2009 relating to a decision to end the life of the “X”-platform product and legacy service stock. Gross margin was 30.2% for 2009, as compared to 33.8% for 2008. The decision to end the life of the “X”-platform product negatively impacted the gross margin by 4 points for the year.

Net loss was $12.2 million in 2009 as compared to a net loss of $20.9 million in 2008.   The loss per share for 2009 was $0.46 compared to a loss of $0.79 per share for 2008.

As previously announced, the Company was not in compliance with certain financial covenants under its loan agreement with Bank of America, N. A. for the quarter ending December 31, 2009 due to the fourth quarter shipping delays. The Company executed an amendment to the loan agreement effective March 1, 2010 which waived these covenant violations on a one-time basis, waived compliance with the financial covenants for the Company’s first quarter ended March 31, 2010, and contained additional restrictions. The loan agreement, which governs our revolving line of credit and $15 million term loan, expires June 30, 2010.  As a result, the $15.0 million term note will be due and payable in full at that time.  The Company has pledged $3.0 million to Bank of America for the repayment of the term loan, which is shown as Restricted Cash on our balance sheet.