OSI Geospatial Signs $5.7M U.S. Army Contract

OTTAWA, Dec. 10 /CNW Telbec/ - OSI Geospatial Inc. (TSX: OSI - News; "OSI") announced today that its U.S. Operations has signed a three-year U.S. Army contract valued at approximately $5.7 million. Under the terms of this contract, the company will provide engineering, training and support services. The company expects to recognize approximately $1.9 million in revenue annually for the next three years.
"We have been working on this program for close to three years and the award of this contract is clear evidence that we are making a significant contribution to this important U.S. Army program," said Ken Kirkpatrick, President and CEO of OSI Geospatial. "I am very pleased with the results that our team has achieved and look forward to continued success on this program."
About OSI Geospatial
OSI Geospatial Inc. delivers advanced geospatial systems and software that enable shared real-time situational awareness for military, safety and security applications. Our products and services enable our customers to integrate and visualize live data with any combination of sensor data, imagery, maps and charts. This capability provides our customers with enhanced operational performance, safety and security through shared real-time situational awareness. OSI Geospatial systems and software are in use by military, government, and commercial customers around the world. The company is publicly traded on the Toronto Stock Exchange. For additional information please visit www.osigeospatial.com.
Forward-Looking Statements
This press release contains forward-looking statements and information which reflect the current view of OSI Geospatial Inc ("OSI") with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and OSI's actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect OSI's financial results are detailed in disclosure documents filed from time to time with the applicable Canadian securities regulatory authorities.
Copyright (C) 2009 OSI Geospatial Inc. and its affiliated or related companies. ECPINS and COP-IDS are registered trademarks of Offshore Systems Ltd., an OSI Geospatial company. IGEN and C3CORE are registered trademarks of CHI Systems Inc., an OSI Geospatial company. Other company brand, product and service names are for identification purposes only and may be either trademarks, service marks or registered trademarks of their respective owners. Data subject to change without notice.
For further information
Sandra Oneschuk, Investor Relations, (613) 287-8004 or 1-888-880-9797, (613) 287-0466 (FAX), invest@osigeospatial.com