ANNAPOLIS, MD, Sep 15, 2011 -- TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world leader in highly reliable and secure mobile communication technology, today announced that it has received a new $9.3 million order from the U.S. Army for upgrades and spare kits of Secret Internet Protocol Router (SIPR) and Non-secure Internet Protocol Router (NIPR) Access Point (SNAP) Very Small Aperture Terminal (VSAT) Satellite System equipment.
The order is initially funded at $1.8 million and will be funded up to a total of $9.3 million if the options are fully exercised through July 2012. This new order will provide support equipment and maintenance of TCS' highly reliable SNAP deployable communications products, as previously awarded through other delivery orders for SNAP equipment. 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, which has been extended to July 27, 2012 with all deliveries required to be completed by August 28, 2012.
"Having deployable satellite communications systems that are reliable can be a huge contributing factor in the success of the U.S. armed forces," said Michael Bristol, senior vice president and general manager of government solutions for TCS. "This order is yet more proof that when it comes to selecting dependable and secure satellite communications equipment, TCS is the logical choice."
The TCS SNAP VSAT systems used to fulfill SNAP program requirements provide multimedia communications capabilities which convey encrypted voice, video and data. TCS SNAP products are highly transportable and ruggedized, and have a graphical user interface that facilitates easy set-up and operation. The modularity and plug-and-play interfaces between all radio frequency (RF) and baseband configurations inherent in the SNAP 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 for mission-critical communications. 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, 2010, and on Form 10-Q for the quarter ended June 30, 2011.
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.
TeleCommunication Systems, Inc.
Liolios Group, Inc.