PALO ALTO, Calif., June 22 /PRNewswire/ -- Communications & Power Industries, Inc. (CPI) has received an approximately $1.7 million initial contract from Globecomm Systems Inc. to support a multinational defense organization. Under the contract, CPI will supply high-power, X-band communications amplifiers for new and upgraded satellite ground terminals. CPI's high-power amplifiers will be used to expand the capacity of existing terminals to operate in X-band frequencies, as well as in the design and development of new satellite ground terminals that also operate in X-band frequencies. CPI, a subsidiary of CPI International, Inc. (Nasdaq: CPII - News), is a leading provider of microwave, radio frequency, power and control solutions for critical defense, communications, medical, scientific and other applications. Globecomm Systems (Nasdaq: GCOM - News) provides satellite-based communications infrastructure solutions and services to commercial and government-related customers around the world.
Work on this contract will be performed at CPI's Satcom Division, and shipments are scheduled to begin in fiscal 2009. The initial program is expected to result in a multi-year program for CPI, with potential follow-on contracts of up to $3.5 million over the next three years.
"Supporting military communications programs is a growing business for CPI," said Andy Tafler, president of CPI's Satcom Division. "This latest contract to support a multinational defense organization demonstrates that our military communications products are in demand both within the U.S. and internationally."
About CPI International, Inc.
CPI International, Inc., headquartered in Palo Alto, California, is the parent company of Communications & Power Industries, Inc., a leading provider of microwave, radio frequency, power and control solutions for critical defense, communications, medical, scientific and other applications. Communications & Power Industries, Inc. develops, manufactures and distributes products used to generate, amplify, transmit and receive high-power/high-frequency microwave and radio frequency signals and/or provide power and control for various applications. End-use applications of these systems include the transmission of radar signals for navigation and location; transmission of deception signals for electronic countermeasures; transmission and amplification of voice, data and video signals for broadcasting, Internet and other types of commercial and military communications; providing power and control for medical diagnostic imaging; and generating microwave energy for radiation therapy in the treatment of cancer and for various industrial and scientific applications.
Certain statements included above constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements provide our current expectations, beliefs or forecasts of future events. Forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual events or results to differ materially from the results projected, expected or implied by these forward-looking statements. These factors include, but are not limited to, competition in our end markets; the impact of a general slowdown in the global economy; our significant amount of debt; changes or reductions in the U.S. defense budget; currency fluctuations; U.S. government contracts laws and regulations; changes in technology; the impact of unexpected costs; and inability to obtain raw materials and components. These and other risks are described in more detail in our periodic filings with the Securities and Exchange Commission. As a result of these uncertainties, you should not place undue reliance on these forward-looking statements. All future written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We undertake no duty or obligation to publicly revise any forward-looking statement to reflect circumstances or events occurring after the date hereof or to reflect the occurrence of unanticipated events or changes in our expectations.
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