Argon ST Awarded $29.8 Million in New Contracts

On Wednesday July 1, 2009, 4:08 pm EDT
FAIRFAX, Va.--(BUSINESS WIRE)--Argon ST, Inc. (NASDAQ:STST - News), a leading systems engineering, development and services company providing full-service C5ISR (command, control, communications, computers, combat systems, intelligence, surveillance and reconnaissance) systems and services to a wide range of defense and intelligence customers, today announced that it has received new contract awards valued at approximately $29.8 million for systems and upgrades for maritime Intelligence Surveillance and Reconnaissance (ISR).
The contracts call for Argon to continue its work to provide multipurpose, modular, upgradable platforms for use in the U.S. littoral battlespace.
“We are proud of this award as it is a vote of confidence for both the personnel involved as well as the technology we have designed and are deploying,” said Kerry Rowe, President and Chief Operating Officer, Argon ST. “Argon’s commitment to Lighthouse and commercial off-the-shelf (COTS) technology-based design is directly in line with future military platforms. It is a cost-efficient and very effective way to design, from the outset, systems that need to keep pace with the ever-advancing threat ISR technologies.”
“Our maritime market is strong and poised for growth,” commented Terry Collins, Chairman and Chief Executive Officer, Argon ST. “In addition to the increased number of opportunities for U.S.-based systems, the international market is showing very high interest in both our surface and subsurface platforms. Given the flexible and adaptable architecture which is specifically designed for technology insertion and open architecture, we believe that we will be able to leverage our work into new and valuable opportunities.”
About Argon ST, Inc.
Argon ST, Inc. designs, develops, and produces systems and sensors for the Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance (C5ISR) markets including SIGINT (Signals Intelligence), ESM (Electronic Support Measures), EW (Electronic Warfare), IO (Information Operations), imaging, and acoustic systems serving domestic and international markets.
Forward-Looking Statements
Statements in this press release which are not historical facts are forward-looking statements under the provision of the Private Securities Litigation Reform Act of 1995. These statements may contain words such as “expects”, “could”, “believes”, “estimates”, “intends”, “may”, “envisions”, “targets” or other similar words. Forward-looking statements are not guarantees of future performance and are based upon numerous assumptions about future conditions that could prove not to be accurate. Forward-looking statements are subject to numerous risks and uncertainties, including without limitation the risks and uncertainties identified in the reports filed by the Company with the Securities and Exchange Commission (including the Company’s Form 10-K for the fiscal year ended September 30, 2008). Some of these specific risks, although not all, are: the availability of both commercial and governmental funding for the Company’s products and services; changes in the U.S. federal government procurement laws, regulations, and policies; the number, length and type of contracts and task orders awarded to the Company by its commercial and governmental customers; the availability of supply channels and materials; difficulties in developing and producing operationally advanced technology systems; the timing and customer acceptance of contract deliverables; the Company’s ability to attract and retain qualified personnel, including personnel with appropriate security clearances; charges from any future impairment reviews; the future impact of any acquisitions or divestitures the Company may make; the competitive environment for information technology products and services; general economic, business and political conditions nationally and internationally, including federal budgetary priorities; and other factors affecting the Company’s business that are beyond its control. All of the forward-looking statements should be considered in light of these factors. Investors should not put undue reliance on any forward-looking statements. We undertake no obligation to update these forward-looking statements to reflect new information, future events or otherwise.
Contact:
Argon ST, Inc.
703-995-5610
Investor Contact:
Aaron Daniels
ir@argonst.com
Media Contact:Lori Hughes
media@argonst.com