Sunday, February 21, 2010

Tel-Instrument ("TIK") Announces New Army IDIQ Contract for the T-47N Test Set with a $600,000 Initial Delivery Order

Defense News ~ CARLSTADT, N.J.--February 20, 2010 (BUSINESS WIRE)--Tel-Instrument Electronics Corp (NYSE-AMEX: “TIK”) is pleased to announce that it received today a five year IDIQ (indefinite-delivery/indefinite-quantity) contract from the U.S. Army for up to 235 T-47N test sets with a maximum contract value of approximately $4 million. The initial delivery order on this IDIQ contract is for 35 test sets with a contract value of approximately $600,000. It is expected that all 35 units will be shipped in the current fiscal quarter. This information is in addition to the information provided in press release issued on February 17th.
This press release includes statements that are not historical in nature and may be characterized as "forward-looking statements," including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company's outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for the Company's products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company's previous filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
Tel-Instrument is a leading designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. Tel-Instrument provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment. For further information please visit our website at http://cts.businesswire.com/

The Company's stock is traded in the American Stock Exchange under the symbol TIK.
Contact:
Tel-Instrument Electronics Corp
Mr. Joseph P. Macaluso, 201-933-1600
Posted by at No comments:
Labels:

Bulova Technologies Group, Inc. Provides Update

Defense News ~ : TAMPA, Fla.--February 20, 2010 (BUSINESS WIRE)--Bulova Technologies Group, Inc. (Pink Sheets:BLVT - News) ("Bulova Tech" or "the Company") today provided an update on the following matters:
1) 2009 Financial Audit
The delay of the filing of the financial reports has understandably frustrated all interested parties. Technical issues involving un-filed reports covering several years prior to the current year, as well as asset valuation issues arising from the acquisition of the "Bulova Technologies" companies in the current year (fiscal year 2009), have taken longer than anticipated to conclude. We will file the reports as soon as possible.
2) BulovaTech Labs ("LABS")
While the Company believes LABS presents significant opportunities, the Board of Directors has determined to spin off LABS into a stand-alone public company in order to focus the energies of BulovaTech on its core businesses of defense and contract manufacturing. More information about the spin off and its timing will be provided in the near future.
John Stanton, Chairman
Stephen Gurba, President & CEO
About Bulova Technologies Group, Inc.
Headquartered in Clearwater Florida, Bulova Technologies Group, Inc. operates two facilities, Bulova Technologies Ordnance Systems in Mayo, FL and BT Manufacturing Company in Melbourne, FL. The headquarters also houses Bulova Technologies Combat Systems Company, which is a world leader in the international sale of military vehicles, weapons and munitions in support of the U.S. Department of Defense.
Please visit our website at www.BulovaTechGroup.com for more information.
Statement about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and\or its management as well as assumptions made by and information currently available to the Company or its management.

Contact:
Bulova Technologies Group, Inc.
Beverly Mercer, 727-451-6560


Related Headlines
Bulova Technologies Group, Inc. Provides Update - Business Wire
Bulova Technologies Group, Inc. Provides Internet Technologies Update - Business Wire
Bulova Technologies Group, Inc. Provides Financing Update - Business Wire
Bulova Technologies Group, Inc. Provides Alternative Energy Update - Business Wire
Bulova Technologies Group, Inc Provides Defense Contracting Sector Update - Business Wire
Posted by at No comments:
Labels:
Subscribe to: Posts (Atom)