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Argon ST Awarded $49 Million U.S. Navy Contract for C4ISR Systems

FAIRFAX, Va.--(BUSINESS WIRE)--Sep. 17, 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 was awarded a $49.7M cost-plus-fixed-fee contract for research, development, and analysis, to produce Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance (C4ISR) system architecture in support of electro-optical, radio frequency, acoustic sensors, and special sensor systems for the U.S. Navy. This contract is expected to be completed over the next three years and initial funding is approximately $5.4 million.

“The ISR market is a strategically important part of our business. This contract enables development of important technologies and systems in support of warfighters as well as protection of U.S. forces, facilities, and borders,” stated Kerry Rowe, President and Chief Operating Officer, Argon ST, Inc.

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.

Forward-Looking Statements

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; 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.
Investor Contact:
Aaron Daniels
703-995-5610
ir@argonst.com
or
Media Contact:
Lori Hughes
703-995-5610
media@argonst.com