ANNAPOLIS, MD, Oct 25, 2010 -- TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world leader in highly reliable and secure mobile communication technology, today announced that it has received an additional $4.1 million in funding from the U.S. Army for equipment and maintenance of Secret Internet Protocol Router (SIPR) and Non-secure Internet Protocol Router (NIPR) Access Point (SNAP) Very Small Aperture Terminal (VSAT) Satellite Systems. These awards are exercised options on existing Delivery Orders issued by the U.S. Army Communications-Electronics Life Cycle Management Command (CECOM LCMC).
This additional increment of SNAP funding will provide equipment and support of TCS' highly reliable SwiftLink(R) deployable communications products. The U.S. Army Project Manager for the Warfighter Information Network-Tactical (PM WIN-T) Commercial Satellite Terminal Program (CSTP) is funding these procurements through the Army's $5 billion World-Wide Satellite Systems (WWSS) contract vehicle. Under the SNAP program customers can exercise options and add funding through August 2011 for delivery per the term of the discrete order. The SNAP program includes options for approximately 1,500 terminals and supporting equipment to be deployed in various sizes and configurations, along with up to 30 field support positions. Under the WWSS procurement vehicle, customers may place orders through August 2011 for delivery up to a year thereafter.
"Secure, deployable communications systems are essential to continuing military efforts throughout the world," said Michael Bristol, senior vice president and general manager of government solutions for TCS. "The men and women serving our country deserve field-proven, reliable systems and support to accomplish their missions. TCS is honored that we have been entrusted to deliver the equipment and the personnel our warfighters need -- whether tactical satellite systems or in-theatre support -- to help them get the job done."
The TCS SwiftLink VSAT systems used to fulfill SNAP program requirements provide multimedia communications capabilities which convey encrypted voice, video and data. TCS SwiftLink products are highly transportable and ruggedized, with a graphical user interface that facilitates easy set-up and operation. The modularity and "plug and play" interfaces between all RF and Baseband configurations inherent in the SwiftLink product line result in communication solutions tailored to the end-user's specific needs.
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) is a world leader in highly reliable and secure mobile communication technology. TCS infrastructure forms the foundation for market leading solutions in E9-1-1, text messaging, commercial location and deployable wireless communications. TCS is at the forefront of new mobile cloud computing services providing wireless applications for navigation, hyper-local search, asset tracking, social applications and telematics. Millions of consumers around the world use TCS wireless apps as a fundamental part of their daily lives. Government agencies utilize TCS' cyber security expertise and professional services. Headquartered in Annapolis, MD, TCS maintains technical, service and sales offices around the world.
Except for the historical information contained herein, this news release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties and are based upon TCS' current expectations and assumptions that if incorrect would cause actual results to differ materially from those anticipated. Risks include without limitation the possibility that the contract options will not be exercised, or that the total value of the order will not be fully funded, and those detailed from time to time in the Company's SEC reports, including the reports on Form 10-K for the year ended December 31, 2009, and on Form 10-Q for the quarter ended June 30, 2010.
Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise the information in this press release, whether as a result of new information, future events or circumstances, or otherwise.
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