FAIRFAX, Va.--(BUSINESS WIRE)--Jun. 1, 2009--
Argon ST, Inc. (NASDAQ:STST), a leading systems engineering, development
and services company providing full-service C5ISR (command, control,
communications, computers, combat systems, intelligence, surveillance
and reconnaissance) systems and services to a wide range of defense and
intelligence customers, today announced that it has received a $6.2
million award for engineering development in support of the U.S. Navy’s
Surface Ship Torpedo Defense (SSTD) program.
The award, a modification to an existing contract, was received from the
U.S. Naval Sea Systems Command to complete the engineering development
model design, through critical design review, for the SSTD program’s
AN/SLQ-25D system. The SSTD program is a defensive system development to
counter specific undersea weapon threats to high value surface ships.
The system consists of detection, control, and counter weapon subsystems.
Since 2006, Argon has served as the lead contractor in designing,
developing and fielding the Torpedo Countermeasures Transmitting Set
AN/SLQ-25 -- commonly referred to as Nixie. Initially contracted to
design and field the AN/SQL-25C, a passive, electro-acoustic decoy
system used to provide deceptive countermeasures against acoustic homing
torpedoes, Argon will now focus on creating the upgrade to this
“The AN/SLQ-25D is the next generation of the AN/SLQ-25C,” commented Joe
Carlin, Senior Vice President, Argon ST. “The basis of the specification
for the AN/SLQ-25D is an open architecture. This new requirement is very
strategic to the Navy’s ability to ensure interoperability with all of
its ships subsystems. Additionally, the new AN/SLQ-25D will be able to
serve as a host to other systems thereby supporting other information
gathering and threat detection.”
Commenting on the strategic nature of the award to Argon, Kerry Rowe,
President and Chief Operating Officer, Argon ST said, “We are proud that
the Navy continues to rely on Argon for one of its most critical
programs. This new open architecture requirement will directly align
Argon with the Navy’s future procurement strategy. Argon will not only
have the opportunity to field the newly upgraded AN/SLQ-25Ds but will
also be in a strategic position to use our work to develop new projects.
Once widely deployed on the Navy surface ships, these systems will
provide us a path to expand our footprint into other ship subsystems.”
Work under the contract will primarily be accomplished at Argon ST’s
Lemont Furnace, Pennsylvania facility with support from the corporate
headquarters in Fairfax, Virginia and the Smithfield, Pennsylvania
production facility. The effort is expected to be completed by September
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, 2008). Some of these specific risks, although
not all, are: the availability of both commercial and governmental
funding for the Company’s products and services; changes in the U.S.
federal government procurement laws, regulations, and policies; the
number, length and type of contracts and task orders awarded to the
Company by its commercial and governmental customers; the availability
of supply channels and materials; 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, including personnel with
appropriate security clearances; 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 nationally and internationally, including federal budgetary
priorities; 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 otherwise.
Source: Argon ST, Inc.
Argon ST, Inc.
Aaron Daniels, 703-995-5610
Lori Hughes, 703-995-5610