Production Contract Will Equip Navy Surface Ships With Enhanced Communications Intelligence System
FAIRFAX, Va.--(BUSINESS WIRE)--Dec. 4, 2008--Argon ST, Inc. (NASDAQ:STST), a leading developer of command, control,
communications, computers, combat systems, intelligence, surveillance,
and reconnaissance (C5ISR) systems, today announced that it has received
a contract modification to complete the sixth phase of a multi-year full
rate production contract to provide Ship's Signal Exploitation Equipment
(SSEE) Increment E sensor systems to the United States Navy.
SSEE is the most modern and extensive communications intelligence system
that is deployed on U.S. Navy surface ships. This modification
immediately exercises an option with an approximate value of $30.4
million and authorizes the procurement of systems for fiscal year 2009.
"The SSEE program has been a long term contract for Argon," commented
Dr. Terry Collins, Chairman and Chief Executive Officer, Argon ST. "It
is a great representation of the value that Argon brings to our
customers through our life cycle approach to projects. We started this
project almost eight years ago as a research and development contract
and as we have successfully met benchmarks, we have progressed through
conceptual capability, development, capability enhancements and
continuous production. We are very proud that the technology and systems
we have developed will provide our operational forces with the most
modern capabilities in the world."
Joe Carlin, Vice President of Information Dominance at Argon stated,
"The Argon / U.S. Navy partnership that this option extends continues to
provide our operational forces with the most modern capability in the
world. We are proud the U.S. Navy continues to trust Argon for the
solution to one of its critical mission needs."
About Argon ST, Inc.
Argon ST, Inc. designs, develops, and produces systems and sensors for
the Command, Control, Communications, Computers, Combat Systems,
Intelligence, Surveillance, and Reconnaissance (C5ISR) markets including
SIGINT (Signals Intelligence), ESM (Electronic Support Measures), EW
(Electronic Warfare), IO (Information Operations), imaging, and acoustic
systems serving domestic and international markets.
Statements in this press release which are not historical facts are
forward-looking statements under the provision of the Private Securities
Litigation Reform Act of 1995. These statements may contain words such
as "expects", "could", "believes", "estimates", "intends", "may",
"envisions", "targets" or other similar words. Forward-looking
statements are not guarantees of future performance and are based upon
numerous assumptions about future conditions that could prove not to be
accurate. Forward looking statements are subject to numerous risks and
uncertainties, including without limitation the risks and uncertainties
identified in the reports filed by the Company with the Securities and
Exchange Commission (including the Company's Form 10-K for the fiscal
year ended September 30, 2007). Some of these specific risks, although
not all, are: the availability of governmental funding for the Company's
products and services; changes in the U.S. federal government
procurement laws, regulations, policies and budgets; the number, length
and type of contracts and task orders awarded to the Company by its
customers; difficulties in developing and producing operationally
advanced technology systems; the timing and customer acceptance of
contract deliverables; the Company's ability to attract and retain
qualified personnel; charges from any future impairment reviews; the
future impact of any acquisitions or divestitures the Company may make;
the competitive environment for information technology products and
services; general economic, business and political conditions; and other
factors affecting the Company's business that are beyond its control.
All of the forward-looking statements should be considered in light of
these factors. Investors should not put undue reliance on any
forward-looking statements. We undertake no obligation to update these
forward-looking statements to reflect new information, future events or
CONTACT: Argon ST, Inc.
Source: Argon ST, Inc.