DRS Technologies Awarded $43.9 Million in Follow-On Orders for P5 Combat Training Systems

PARSIPPANY, NJ--(MARKET WIRE)--Jun 17, 2009 -- DRS Technologies, Inc. announced today the receipt of follow-on orders of $43.9M for the P5 Combat Training System/Tactical Combat Training System (P5 CTS/TCTS.) As with all previous orders, DRS will be responsible for the production, testing, and fielding of the pods which are flown on a variety of aircraft, to include the F-15, F-16, FA-18, and AV-8B.
DRS will provide additional P5 pods for use by U.S. Air Forces Europe (USAFE) squadrons at RAF Lakenheath, United Kingdom; Spangdahlem AB, Germany; and Aviano Air Base, Italy as well as U.S. Navy squadrons in the continental United States. Under contracts awarded by the 689th Armament Systems Squadron at Eglin Air Force Base, these additional pods will be delivered along with ground station consoles from Cubic Defense Applications, Inc. who is the prime contractor.
The pods will be manufactured at the DRS Technologies facility in Ft. Walton Beach, FL and deliveries will begin in mid-2010, approximately 11 months after receipt of order. These latest orders bring the total number of latest generation airborne subsystems ordered from DRS to 1,209. These orders will result in the first delivery of P5 pods to U.S. aircrews outside the continental United States.
P5 pods are mounted onto participating aircraft, allowing rangeless operations as well as real-time monitoring of the exercise. During air combat training exercises, the pods record mission data; relay time, space and positioning information between participating aircraft; support real time weapon simulations, and provide "kill" notification to affected aircrews. Post-mission, the recorded data is replayed on the ground station consoles that are provided by Cubic Defense Applications, Inc. and allow the ability to review the performance of participating aircrews in order to fine-tune their combat skills.
P5 CTS/TCTS is available to international users through the Foreign Military Sales (FMS) program. Poland was the first FMS customer with pod delivery scheduled for this summer. A second FMS contract was awarded to Cubic/DRS in May to provide P5 pods and ground systems to Singapore for use at Mt. Home AFB, Idaho. Discussions to establish additional FMS cases with other international partners are underway.
DRS Technologies, headquartered in Parsippany, NJ, is a leading supplier of integrated products, services and support to military forces, intelligence agencies and prime contractors worldwide. The company is a wholly owned subsidiary of Finmeccanica S.p.A. (FNC.MI) which employs more than 73,000 people worldwide. For more information about DRS Technologies, please visit the company's website at www.drs.com.
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