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

Related Headlines
TEL INSTRUMENT ELECTRONICS CORP Financials - EDGAR Online Financials
Tel-Instrument ("TIK") Announces New Army IDIQ Contract for the T-47N Test Set with a $600,000 Initial Delivery Order - Business Wire
TEL INSTRUMENT ELECTRONICS CORP Files SEC form 8-K, Results of Operations and Financial Condition - EDGAR Online
Tel-Instrument Electronics Corp Announces its Third Quarter Results for Fiscal Year 2010 and the Award of a $2.7 Million Contract - Business Wire
TEL INSTRUMENT ELECTRONICS CORP Files SEC form 10-Q, Quarterly Report - EDGAR Online

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

UPDATE 1-US Navy official sees Lockheed F-35 test milestone

* Several more flights needed before vertical landing
* Landing will be "huge step" in testing process
Defense News ~ WASHINGTON, Feb 19 (Reuters) - The Marine Corps version of Lockheed Martin Corp's (LMT.N) F-35 is expected to make its long-delayed first full vertical landing within the next week, a top U.S. Navy official said on Thursday.
Captain Lawrence Burt, strike aircraft plans and requirements officer, said officials testing the short takeoff, vertical landing (STOVL) version of the new radar-evading fighter need to conduct a few more flights before doing the landing maneuver.
"They're three or four flights from a full STOVL vertical landing, which would be a huge step in the testing process," Burt told Reuters after addressing a defense conference hosted by Aviation Week.
Burt said achieving the long-delayed milestone in the testing program would help ensure that the small carriers used for Marine Corps aircraft could be modified to accommodate the new fighter during upcoming scheduled maintenance stops.
That, in turn, would allow sea trials of the new fighters to test their performance in the environment at sea, as well as the plane's coatings, Burt said, noting that the Marines hoped to begin sea trials of the new planes this fall.
"There's a lot of stuff that we've got to learn," Burt said, noting that the carriers would need to be outfitted with new bolts to attach the planes to the deck.
"We are making sure that when we actually take the ship into the yards and do those modifications, that the aircraft will be ready, so that when it comes back out to sea, the plane's coming. We don't want to do it early," he said.
Lockheed spokesman John Kent said the F-35B is completing tests required before it could attempt the vertical landing. "We're progressing through the final series of tests leading up to vertical landing and we expect it to happen soon," he said.
Kent said the timing for testing the F-35B from ships depended on ship preparations, availability and completion of the current flight tests.
The STOVL testing began at a U.S. air base in southern Maryland last November after being delayed for months due to issues with delivery of some parts, a design change in the STOVL engine built by Pratt & Whitney, a unit of United Technologies Corp (UTX.N), and adverse weather conditions.
Program and industry official had hoped to complete the first STOVL mode vertical landing by year's end.

(Reporting by Andrea Shalal-Esa, editing by Gerald E. McCormick and Tim Dobbyn)

Lockheed Martin Conducts Successful PAC-3 MSE Intercept Flight Test

Defense News ~ DALLAS, Feb. 19 /PRNewswire/ -- Lockheed Martin's (NYSE:LMT - News) enhanced version of the combat-proven PAC-3 Missile, the PAC-3 Missile Segment Enhancement (MSE), successfully intercepted a threat representative tactical ballistic missile target yesterday at White Sands Missile Range, N.M. Â
The PAC-3 MSE Missile provides increased performance, greater altitude and range than the baseline PAC-3 Cost Reduction Initiative (CRI) Missile. Â As the first spiral development of the PAC-3 CRI Missile, the PAC-3 MSE Missile variant incorporates threat-driven and technology-enabled hardware and software upgrades to defeat the advancing threat set. The PAC-3 Missile is the only Patriot missile that utilizes hit-to-kill technology to destroy incoming targets.
"The PAC-3 MSE Missile performed extremely well," said Richard McDaniel, director of PAC-3 Missile programs at Lockheed Martin Missiles and Fire Control. Â "The continued evolution of the missile segment, combined with rigorous testing, will result in the fielding of a tremendous defensive capability for the Warfighter."
The PAC-3 MSE Missile was selected as the primary interceptor for the multi-national Medium Extended Air Defense System (MEADS) in September 2006. Â The MEADS program has completed hardware Critical Design Reviews and is now integrating and testing the radars, launchers, tactical operation centers and reloaders needed for system tests at White Sands Missile Range, N.M., in 2012.
Upgrades incorporated into the PAC-3 MSE Missile include:
*The solid-rocket motor now has a second pulse and is larger in diameter. Â
*Aerodynamic surfaces are larger and the span of the aft control surfaces is greater to accommodate the increased performance envelope.
*Thermal batteries have been sized consistent with increased performance and longer mission time.
*The PAC-3 MSE Missile is packaged in a single canister that stacks to provide flexibility for the Patriot or MEADS launcher load-out requirements.
Lockheed Martin achieved the first-ever hit-to-kill intercept in 1984 with the Homing Overlay Experiment, using force of impact alone to destroy a mock warhead outside of the Earth's atmosphere. Â Further development and testing produced today's PAC-3 Missile, which won a competition in 1993 to become the first hit-to-kill interceptor produced by the U.S. Government.
Lockheed Martin is a world leader in systems integration and the development of air and missile defense systems and technologies, including the first operational hit-to-kill missile. Â It also has considerable experience in missile design and production, infrared seekers, command and control/battle management, and communications, precision pointing and tracking optics, as well as radar and signal processing. Â The company makes significant contributions to all major U.S. missile defense systems and participates in several global missile defense partnerships.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2009 sales of $45.2 billion.
For additional information, visit our website:
http://www.lockheedmartin.com

Related Headlines
Lockheed to expand market for voice technology - AP
Lockheed Martin's Record-Setting C-5M Redefines Strategic Airlift - PR Newswire
Lockheed Martin Physicist Inducted Into Silicon Valley Engineering Hall of Fame - PR Newswire Lockheed Martin F-35 Poised to be Backbone of USAF Fighter Fleet - PR Newswire
Lockheed Martin and Adaptive Digital Technologies Sign Marketing Agreement for Vocoder Technology - PR Newswire

Stardust-NExT Spacecraft Fires Engines to Delay Arrival at Comet

*Lockheed Martin-Built Spacecraft One Year Away From Encounter with Tempel 1

Defense News ~ DENVER, Feb. 19 /PRNewswire/ -- NASA's Stardust-NExT (New Exploration of Tempel) spacecraft fired its engines for 22 minutes 53 seconds on Feb. 17 to purposely delay its arrival at comet Tempel 1 by 8 hours 21 minutes. In one year, the Lockheed Martin- (NYSE:LMT - News) built spacecraft will still fly by the comet on Feb. 14, 2011, Valentines' Day, but the encounter time will now be 8:42 p.m. PT.
The low-cost Discovery Program Mission of Opportunity will expand the investigation of comet Tempel 1 initiated by NASA's Deep Impact spacecraft. The mission uses the still-healthy Stardust spacecraft to perform a flyby of comet Tempel 1 and obtain high-resolution images of the comet and hopefully the crater made by Deep Impact in July 2005. The delayed arrival will provide project scientists the best chance of seeing both previously imaged areas and news areas of Tempel 1. By taking photos of previously imaged areas of the comet, scientists can analyze terrain changes caused by the comet's close approach to the Sun on a successive orbit five and one-half years later.
The engine burn was performed autonomously at 2:00 p.m. PST while the spacecraft was out of contact from Earth. Spacecraft engineers at Lockheed Martin sent the trajectory correction maneuver commands to the spacecraft on Monday, Feb. 15. The maneuver reduced the spacecraft's velocity, relative to the sun, by 54 mph (24 meters per second). The spacecraft's velocity relative to the sun is 47,500 mph (21 km per second).
The robust spacecraft recently completed it 4,000th day of flight and had traveled approximately 3.4 billion miles (5.4 million kilometers) since its launch 11 years ago.
Throughout its two-mission life, Stardust has had many January and February milestones.
*Feb. 7, 1999 launch from Cape Canaveral Air Force Station
*Jan. 15, 2001 Earth gravity assist to meet up with comet Wild 2
*Jan. 2, 2004 encounter with comet Wild 2
*Jan. 15, 2006 sample return capsule returned safely back to Earth
*Jan. 14, 2009 Earth gravity assist to meet up with comet Tempel 1
*Feb. 14, 2011 future encounter with comet Tempel 1
Dr. Joseph Veverka at Cornell University is the principal investigator of the Stardust-NExT mission. JPL is managing Stardust-NExT for the NASA Science Mission Directorate, Washington, D.C. Lockheed Martin Space Systems Company designed and built the Stardust spacecraft and performs flight operations for the mission.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2009 sales of $45.2 billion.
Allan Cheuvront video comments: http://www.lockheedmartin.com/products/StardustNExT
Stardust-NExT illustrations: http://www.lockheedmartin.com/products/StardustNExT
Mission Web site: http://stardustnext.jpl.nasa.gov
MEDIA CONTACT:
Gary Napier, Lockheed Martin Space Systems Company; (303) 971-4012; gary.p.napier@lmco.com

Related Headlines
Lockheed to expand market for voice technology - AP
Lockheed Martin's Record-Setting C-5M Redefines Strategic Airlift - PR Newswire
Lockheed Martin Physicist Inducted Into Silicon Valley Engineering Hall of Fame - PR Newswire
Lockheed Martin F-35 Poised to be Backbone of USAF Fighter Fleet - PR Newswire
Lockheed Martin and Adaptive Digital Technologies Sign Marketing Agreement for Vocoder Technology - PR Newswire

Cost is critical factor in LCS competition-US Navy

* Contract valued at over $5 billion
* Navy aims to move away from system integrators
* Could stage competition for combat systems later
By Andrea Shalal-Esa
Defense News ~ WASHINGTON, Feb 20 (Reuters) - Cost will be the critical factor the U.S. Navy uses to judge competing designs from General Dynamics Corp (GD.N) and Lockheed Martin Corp (LMT.N) for a new class of fast, flexible, shallow-water warships, a top admiral said on Thursday.
Rear Admiral William Landay, program executive officer for Navy ships, said both designs met the Navy's requirements for its new Littoral Combat Ship (LCS), and the deciding factor would be procurement cost, even if one design offered certain advantages.
"While there are a number of factors in our RFP (request for proposals) ... in the end, for this particular acquisition, the cost of that ship is critically important to us, and that was our key overarching driver," Landay told reporters after addressing a conference hosted by Aviation Week magazine.
Analysts say the contract will be worth well over $5 billion to the winning bidder.
Landay said it was always a challenge in best-value competitions to weigh the benefits of certain capabilities, such as an extra knot of speed, against their costs. He said the competition was deliberately structured to account for the ships' total ownership costs, such as fuel use and staffing.
But at this point, procurement cost was the Navy's primary concern, given its plan to buy 55 of the ships and a congressional cost cap of $480 million per ship. "We're going to downselect to one, and the cost is going to be a critical piece of that. It's just the reality of it," Landay said.
The Navy gave industry the final terms for the competition in mid-January, and bids are in mid-March. It will pick a single winner to build 10 ships and combat systems for five more in late spring or early summer, Landay said.
Supporters of the General Dynamics ship, an aluminum three-hulled vessel based on a design by Australian shipbuilder Austal (ASB.AX), argue that a competition decided solely on price will overlook the additional hull capacity and other features of their vessel that could be beneficial to the Navy.
Lockheed's ship is a more traditional steel monohull that analysts say could be somewhat cheaper to build.
Landay said the Navy was determined to maintain competition in the program in the longer term, which is why it will launch a competition for a second shipbuilder in several years.
He said the final terms for the current competition made it clear that the winning contractor could not bid to build the second set of ships. He said there had been "a lot of give and take" with industry over that issue.
"We're trying to make sure we don't get ourselves in a case where somebody who wins the downselect owns or can influence the second shipbuilder. Then you don't have competition," Landay said.
He said the Navy was letting the contractors make their own decisions about teaming arrangements, and would see the outcome when bids were submitted next month.
The overall goal, he said, was to move away from having a prime contractor that served as the systems integrator for the ship program, and instead have separate suppliers for the ships themselves and their combat systems.
That approach could lead to changes in the industry teams that are competing for the work.
General Dynamics, for instance, may sever its shipbuilding relationship with Austal, which built the first General Dynamics LCS ship, while maintaining ties with Austal on the combat system, said two sources familiar with the issue who were not authorized to speak publicly.
Landay said the Navy could stage a separate competition for the combat systems part of the work in the future, but he gave no details.
(Reporting by Andrea Shalal-Esa; editing by John Wallace)

Lockheed Martin's Record-Setting C-5M Redefines Strategic Airlift

Defense News ~ ORLANDO, Fla., Feb. 19 /PRNewswire-FirstCall/ -- At the Air Force Association's 26th Annual Air Warfare Symposium, Lockheed Martin (NYSE:LMT - News) officials provided details on how the C-5M is cost-effective, saves fuel and increases strategic airlift reliability for the warfighter.
"This is an exciting time for the C-5 program," said Lorraine Martin, Lockheed Martin's vice president, C-5 program. "The C-5M is a game-changer for the warfighter and strategic airlift by being able to complete missions sooner, conserve fuel and carry more than any other U.S. airlifter while saving more than $9 billion for the taxpayer over the lifetime of the aircraft."
The C-5M set 42 world records in September 2009 and established new benchmarks in carrying more cargo, faster and farther than any other military airlifter. In October 2009, three C-5Ms delivered 3.8 million pounds of cargo in 34 missions during a 30-day surge operation, averaging more than 110,000 pounds of cargo per aircraft. By eliminating an en route stop, the C-5M saved more than 4,000 gallons of fuel and reduced fuel consumed by 13 percent compared to legacy C-5s.
"During the surge, the C-5M avoided more than 2,000 tons of carbon dioxide emissions and was the first to meet stage four noise compliance and certification, making the M an environmentally friendly strategic airlifter," said Martin. Â "The RERP [Reliability Enhancement and Reengining Program] production is on-track and we look forward to continuing the partnership with the Air Force to sustain and modernize the C-5 fleet for the total force, including the Guard and Reserve."
Current Air Force plans call for Lockheed Martin to deliver 52 C-5Ms by 2016. Three C-5Ms have been delivered to the U.S. Air Force at Dover Air Force Base, Del., with a fourth scheduled for delivery in September 2010.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2009 sales of $45.2 billion.
For additional information, visit our Web site:
http://www.lockheedmartin.com


Related Headlines
Lockheed to expand market for voice technology - AP
Lockheed Martin's Record-Setting C-5M Redefines Strategic Airlift - PR Newswire
Lockheed Martin Physicist Inducted Into Silicon Valley Engineering Hall of Fame - PR Newswire
Lockheed Martin F-35 Poised to be Backbone of USAF Fighter Fleet - PR Newswire
Lockheed Martin and Adaptive Digital Technologies Sign Marketing Agreement for Vocoder Technology - PR Newswire

Orbit International Corp.'s TDL Subsidiary to Demonstrate the Synexxus Oberon V4 Electronic Keel System, Designed for MRAP-ATV Vehicles at AUSA Sym&Ex

Orbit International Corp.'s TDL Subsidiary to Demonstrate the Synexxus Oberon V4 Electronic Keel System, Designed for MRAP-ATV Vehicles at AUSA Symposium and Exhibition

Defense News ~ HAUPPAUGE, N.Y.--February 19, 2010,(BUSINESS WIRE)--Orbit International Corp. (NASDAQ:ORBT - News), a defense and industrial electronics manufacturer and software solution provider, today announced that its Tulip Development Laboratory (“TDL”) subsidiary, located in Quakertown, PA, will be demonstrating its color LCD displays that have been supporting the Synexxus Inc. (“Synexxus”) Oberon V4 Electronic Keel (“Oberon”) System at the AUSA Symposium and Exhibition. Synexxus, located in Arlington, VA, has successfully designed an open architecture data distribution and information system that can be rapidly reconfigured for changing missions, supporting ground vehicle, shipboard, and avionic defense electronic programs. The AUSA Symposium and Exhibition will be held at the Broward County Convention Center, Fort Lauderdale, FL from February 25 to 27. TDL will be demonstrating the Oberon system that has been designed for deployment in the Mine Resistant Ambush Protected-All Terrain Vehicle (MRAP-ATV) manufactured by Oshkosh Corporation.
David Gutman, President of TDL indicated, “While working with Synexxus, it was obvious their team objective was to develop a cost competitive, versatile, open architecture networking system for a number of mission critical programs. In addition to providing the vehicle operators with a much improved situational awareness picture, Oberon has managed to reduce space, weight and power requirements from an armored vehicle by eliminating the need for redundant processors, laptops, and excess cablings.”
Gutman commented, “What has made our working relationship with Synexxus most rewarding, has been our realization that their primary objective was not driven by a rigid and structured business plan, but rather by a team commitment that if successful, would help save lives. I believe the true Synexxus mission was to design a data distribution system now designated Oberon V4, deployable for the family of MRAP`s that would help defend our troops within a safer vehicle, and limit causalities as our armed forces complete their current mission objectives in Iraq and Afghanistan.”
Dennis Sunshine, President and Chief Executive Officer of Orbit International Corp. commented, “As we previously announced, TDL has recently relocated to a larger Quakertown, PA facility, and is now well positioned to meet potential high quantity production requirements for Oberon, supporting, time-sensitive deployment schedules. In addition, TDL is currently working with a number of prime contractors on additional display opportunities that would utilize its increased facility capacity.”
During the upcoming AUSA Exhibition, TDL will be demonstrating an Oberon system, which has been extensively field tested, and is currently deployed in a limited number of MRAP vehicles operating throughout Iraq.
Deployed during Operation Iraqi Freedom (“OIF”) in the spring of 2009, Oberon successfully passed 10,000 operational hours without any significant failure. Currently deployed in five different vehicle configurations, the Oberon system has successfully demonstrated the significant amount of time saved by the Explosive Ordnance Disposal (“EOD”) teams that are exposed to enemy fire during the set-up and deployment of assets while prosecuting Improvised Explosive Devices (IED's). An Air Force Staff Sergeant formerly assigned to an EOD unit in Iraq was recently quoted, “Using Oberon allowed my team to defeat an IED in 20 minutes, when it would otherwise take almost two hours.”
Sunshine concluded, “Having the opportunity to work first hand with the Synexxus team has truly been a privilege. Synexxus has now proven it has developed a reliable, versatile networking system that can be easily deployed in a number of MRAP-ATV vehicles. Most recently, Oberon has been successfully deployed and is currently operational for new shipboard and aircraft program opportunities. Due to the unprecedented number of requests from operators in the field that have had experience with the system capabilities, we anticipate the production and integration of the Oberon system will require ramped up quantities for deployment into MRAP-ATV vehicles that will be shipped to Afghanistan on an accelerated program schedule.”
Orbit International Corp. is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facilities in Hauppauge, New York, and Quakertown, Pennsylvania; and designs and manufactures combat systems and gun weapons systems, provides system integration and integrated logistics support and documentation control at its facilities in Louisville, Kentucky. Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units, AC power sources, frequency converters, uninterruptible power supplies and COTS power solutions.
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, but not limited to, statements regarding any acquisition proposal and whether such proposal or a strategic alternative thereto may be considered or consummated; statements regarding our expectations of Orbit’s operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, annual reports on Form 10-K and its other periodic reports and its registration statement on Form S-3 containing a final prospectus dated January 11, 2006. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Contact:
Orbit International Corp.

Mitchell Binder, 631-435-8300

Executive Vice Presidentor

Tulip Development Laboratory

David Gutman, 215-538-8820

President

Related Headlines
Orbit International Corp.'s TDL Subsidiary to Demonstrate the Synexxus Oberon V4 Electronic Keel System, Designed for MRAP-ATV Vehicles at AUSA Symposium and Exhibition - Business Wire
Orbit International's Power Group Receives Initial Production Order in Support of Oil and Gas Services Industry - Business Wire
Orbit International Corp. Receives New Order in Excess of $1.0 Million for Rugged Tablet - Business Wire
Orbit International Corp. Receives New Order in Excess of $1.7 Million for Common Transponder Program - Business Wire
ORBIT INTERNATIONAL CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Change in Directors or Princ - EDGAR Online

Related Message Boards
Orbit International Corp.

L-3 Agrees to Acquire Insight Technology, Expands Electro-Optical and Night Vision Business

Defense News ~ NEW YORK--February 19, 2010, (BUSINESS WIRE)--L-3 Communications (NYSE: LLL - News) announced today that it has entered into an agreement to acquire Insight Technology Incorporated (Insight). Insight develops and manufactures mission critical night vision and electro-optical equipment including laser aiming and illumination devices, laser rangefinders, laser markers and designators, night vision goggles and monoculars, and thermal imaging systems. Headquartered in Londonderry, New Hampshire, Insight employs approximately 1,100 people. Insight’s products are used by the U.S. military, federal law enforcement agencies and allied nations. The purchase price was not disclosed and will be funded with cash on hand.
The acquisition is anticipated to be completed in the second quarter of 2010, subject to customary closing conditions and regulatory approvals, and will be structured as an asset purchase for income tax purposes. Insight is expected to generate approximately $290 million of sales for the twelve months ending December 31, 2010. Before giving effect to the present value of tax related benefits of the transaction and expected synergies, the purchase price represents a multiple of approximately nine times estimated 2010 earnings before interest, taxes, depreciation and amortization (EBITDA). The acquisition is expected to be immediately accretive to L-3’s results of operations.
“By combining Insight’s outstanding people and innovative products with our existing portfolio, we add important new capabilities to L-3,” said Michael T. Strianese, chairman, president and chief executive officer. “Insight’s entrepreneurial culture and dedication to customer needs make this a natural fit and is a great example of L-3 successfully executing its acquisition strategy.”
Pending the successful completion of this transaction, Ken Solinsky, Insight’s founder and president, will become president of L-3’s newly created Warrior Systems Sector. Mr. Solinsky will report to James W. Dunn, senior vice president and president of L-3’s Sensors and Simulation Group. The Warrior Systems Sector will include Insight and L-3’s existing electro-optical/infrared (EO/IR) businesses currently addressing the warrior systems market and will be reported in L-3’s Electronic Systems segment.
“Insight expands and broadens L-3’s warrior systems capabilities, a key strategic growth area for L-3,” added Mr. Dunn. “Leveraging Insight’s industry leading products, engineering skills and manufacturing agility, we can deliver higher performing systems, with faster speed and greater value, to our customers.”
Mr. Solinsky concluded, “Insight and select L-3 businesses have been working together for nearly 20 years. We know each other well and have the utmost respect for each other’s capabilities. This combination enables us to build on these relationships. By combining advanced components, technologies and system capabilities, L-3’s Warrior Systems Sector will be able to provide advanced night vision and electro-optical systems to our nation’s warfighters and homeland defenders in a highly effective manner. These dedicated individuals deserve the best equipment, delivered on time, with high quality and reasonable prices. I am pleased and honored to have been chosen to lead the Warrior Systems Sector and pledge to do my best in support of our warfighters.”
Headquartered in New York City, L-3 Communications employs over 66,000 people worldwide and is a prime contractor in aircraft modernization and maintenance, C3ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems and government services. L-3 is also a leading provider of high technology products, subsystems and systems. The company reported 2009 sales of $15.6 billion.
To learn more about L-3, please visit the company's Web site at http://cts.businesswire.com/

L-3 uses its Web site as a channel of distribution of material company information. Financial and other material information regarding L-3 is routinely posted on the company's Web site and is readily accessible.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements

Contact:
L-3 Communications

Corporate Communications

212-697-1111

Related Headlines
Stock Picker: Fed Decision Offers Buy Opportunities - at CNBC
L-3 Agrees to Acquire Insight Technology, Expands Electro-Optical and Night Vision Business - Business Wire
A Big Military Budget's Big Winners Aren't Big Names - at Investopedia
Coming to an Airport Near You: the Virtual Strip Search - at The Wall Street Journal Online
For Defense Contractors, the Lobbyists Still Rule - at Minyanville.com

Related Message Boards
L-3 Communications Holdings Inc.

Turkish Airlines acquires CAE 7000 Series Boeing 777-300ER full-flight simulator

Defense News ~ ISTANBUL, TURKEY--(Marketwire - 02/19/10) - (TSX:CAE - News)(NYSE:CAE - News)CAE and Turkish Airlines, a member of Star Alliance, today announced that the airline has purchased a CAE 7000 Series full-flight simulator (FFS) representing the Boeing 777-300ER aircraft from CAE.
The Boeing 777-300ER FFS will be delivered to the Turkish Airlines (THY) Flight Training Centre at Istanbul International Ataturk Airport in 2010, along with a CAE Simfinity Integrated Procedures Trainer (IPT) for the Boeing 737NG. The contract renews a relationship between Turkish Airlines and CAE which began in 1997.
Dr. Temel Kotil, CEO and Member of Board of Turkish Airlines said there will be more simulator orders to bring Turkish Airlines Flight Training Facility a global brand. CAE's early delivery and competitive offer for such state of the art device was the key factor for selecting CAE as B777-300ER simulator supplier.
"We are very pleased that Turkish Airlines has selected CAE's new generation flight simulation solutions," said Jeff Roberts, CAE's Group President, Civil Simulation Products, Training and Services. "CAE has been proud to serve THY's flight training needs for more than a decade, and look forward to being a strong partner as Turkish Airlines continues to grow its global business."
The Boeing 777-300ER FFS is expected to be qualified to JAR Level D, the highest standard for full-flight simulators, by the Civil Aviation Authority (CAA) of Turkey and other National Aviation Authorities.
About CAE
CAE (NYSE:CAE - News)(TSX:CAE - News) is a world leader in providing simulation and modelling technologies and integrated training solutions for the civil aviation industry and defence forces around the globe. With annual revenues exceeding C$1.6 billion, CAE employs more than 6,500 people at more than 90 sites and training locations in 20 countries. We have the largest installed base of civil and military full-flight simulators and training devices. Through our global network of 29 civil aviation and military training centres, we train more than 75,000 crewmembers yearly. We also offer modelling and simulation software to various market segments, and through CAE's professional services division we assist customers with a wide range of simulation-based needs.
About Turkish Airlines:
Being established in 1933 with a fleet of only 5 aircraft, Turkish Airlines is today a 4-star airline company with a fleet of 133 aircraft flying to 156 destinations around the world, comprising 37 domestic and 119 international destinations. Turkish Airlines is a member of the Star Alliance network which was established in 1997. Overall, the Star Alliance network offers 19.700 daily flights to 1077 destinations in 175 countries.

Contacts:
CAE contacts:
Nathalie Bourque, Vice President
Public Affairs and Global Communications
514-734-5788
nathalie.bourque@cae.com
Trade media:
Chris Stellwag, Director
Marketing Communications, Military and Civil
813-887-1242
chris.stellwag@caemilusa.com
Investor relations:
Andrew Arnovitz, Vice President
Investor Relations and Strategy
514-734-5760
andrew.arnovitz@cae.com
Turkish Airlines Media relations contact
+90 (212) 463 63 63 (1153-1173),
press@thy.com


Related Headlines
CAE launches CAE 3000 Series helicopter mission simulators - CCNMatthews
CAE launches CAE 3000 Series helicopter mission simulators - Marketwire
Trade press release: CAE Healthcare partners wtih Ornge to offer transport medicine education solutions - Marketwire
CAE awarded contract by Skymark Airlines for Boeing 737-800 full-flight simulator - Marketwire
Turkish Airlines acquires CAE 7000 Series Boeing 777-300ER full-flight simulator - Marketwire

UPDATE 2-Buyers resubmit "final" A400M offer -Germany

* Nations ready to accept 2 bln eur cost increase -ministry
* Nations refuse to discuss financial, technical matters
* Statement leaves uncertainty over key loan definition
By Sabine Siebold

Defense News ~ BERLIN, Feb 19 (Reuters) - Buyer nations resubmitted a 3.5 billion euro bailout plan for the A400M military transporter plane on Friday and told Airbus parent EADS (EAD.PA) it was their "final" offer, a German defence ministry spokesman said.
The spokesman said the terms of the rescue package were unchanged from a previous offer of aid for the troubled European troop plane and suggested buyers had snubbed efforts by EADS to keep negotiating on some of the finer details of the rescue plan.
Spiralling costs and delays have threatened Europe's largest defence project and left EADS with a 5.2 billion euro loss.
Fearing damage to its core airliner business, the Airbus parent is negotiating a rescue plan with buyers representing Britain, France, Germany, Spain, Belgium, Luxembourg and Turkey.
The German spokesman said the seven NATO partners were ready to accept a cost increase of 2 billion euros for the transporter and to offer export guarantees of 1.5 billion euros.
However, they were rejecting further negotiations on financial or technical matters, at least for now.
"The buyer nations put forward their final offer on February 19th," the spokesman said.
"They are sticking to the position they took on February 15th. They accept price increases of 2 billion euros and said they were prepared to offer export guarantees of 1.5 billion euros."
EADS declined comment.
Sources familiar with the matter said on Thursday EADS had agreed a core package of 3.5 billion euros of support with buyers but that it had asked to renegotiate a price inflation clause and defer installation of some complex military kit.
An official from one buyer nation said the purpose of the latest letter was to send EADS a reminder that its offer was the last one on the table following months of talks. EADS is under pressure to accept and end suspense over the future of 10,000 jobs.
The German statement did not say how the 1.5 billion euro guarantees would be structured -- another key point holding up completion of EADS results due to be published on March 9.
Even with the proposed support, EADS faces losses of 1.7 billion euros on the multinational project, on top of 2.4 billion euros already provisioned in its accounts.
This could rise to 3.2 billion euros if guarantees are classified as a loan, forcing it to provision for extra losses.
In France, an aide to defence minister Herve Morin said the country remained optimistic of a long-awaited final deal.
"There are discussions. We let them take their course and are not commenting for now. We are fairly optimistic," he added.
Germany and France, with 60 and 50 aircraft respectively, are the largest customers for the propeller-powered A400M, which first flew in December and is due to be delivered in 2012.
Buyers have ordered a total of 180 planes to support global operations and fill a gap between the Lockheed Martin (LMT.N) C-130 Hercules and the larger jet-powered Boeing (BA.N) C-17.
(Additional reporting by Tim Hepher, Gerard Bon; editing by John Stonestreet)

General Dynamics Awarded USD$29 Million for RG-31 MRAP Independent Suspension Kits

Defense News ~ LONDON, Ontario, Feb. 19 /PRNewswire-FirstCall/ -- U.S. Marine Corps Systems Command (MCSC) has awarded General Dynamics Land Systems-Canada a USD$29.2 million delivery order to supply 127 independent suspension kits for its Mine Resistant Ambush Protected (MRAP) vehicle program. Â General Dynamics Land Systems, the Canadian company's parent corporation, is a business unit of General Dynamics (NYSE:GD - News).
The TAK-4 independent suspensions, produced by Oshkosh, will be installed in-theatre on to previously delivered RG-31Mk5EM vehicles to enhance their ride quality and robustness.
The contract was signed through the Canadian Commercial Corporation, a Crown Agency of the Canadian Government.
General Dynamics Land Systems – Canada, located in London, Ontario, Canada, is a business unit of General Dynamics Land Systems of Sterling Heights, Michigan.  For over 30 years, more than 2000 highly skilled technical employees have designed, manufactured, delivered and supported to global customers a unique family of light armoured vehicles (LAV).  More information on the company is available at http://www.gdlscanada.com/.
General Dynamics, headquartered in Falls Church, Va., employs approximately 91,700 people worldwide. Â The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. Â More information about General Dynamics is available online at http://www.generaldynamics.com/.

Lockheed Martin F-35 Poised to be Backbone of USAF Fighter Fleet

Defense News ~ ORLANDO, Fla., Feb. 19 /PRNewswire/ -- The United States Air Force officially becomes the first F-35 Lightning II customer later this year, when the first of the stealth fighters is delivered to Eglin Air Force Base, Fla. The delivery will initiate a massive recapitalization of the Air Force's multi-role fighter fleet, and will usher in profound increases in capability, a Lockheed Martin (NYSE:LMT - News) executive said Friday.
"The first two production F-35s are in final assembly at Lockheed Martin's Fort Worth plant, and the training wing at Eglin is primed to receive them and get their pilots in the seats," said Steve O'Bryan, Lockheed Martin vice president of F-35 Business Development and Customer Engagement. "The Air Force is by far the biggest F-35 customer, and the fact that the largest and most powerful air force in the world is staking its future on the capabilities of this aircraft speaks volumes." The Air Force plans to operate 1,763 F-35As, which along with the F-22, ultimately will replace all of the Air Force's current fighter fleet.
"The F-35 will be flown by the U.S. Air Force, Navy and Marine Corps, as well as our closest allies. This means that the USAF and the rest of the world's great air forces will be flying the F-35 together in the future," O'Bryan said. "The F-35 provides 'best value' in a package that not only deters hostilities but enhances interoperability."
Speaking Friday at the Air Force Association's Air Warfare Symposium at the Rosen Shingle Creek Hotel, O'Bryan pointed to the pillars of the F-35 program – affordability, survivability, lethality and supportability – and highlighted the F-35's value proposition. "As a 5th generation fighter, the F-35 is redefining the term 'multirole fighter' combining unprecedented situational awareness, net-enabled systems, sensor fusion, advanced sustainment, stealth and fighter performance in an affordable and supportable package."
With more than 150 test flights completed, all systems operating in F-35 aircraft, other surrogate test aircraft and laboratories, and 35 aircraft in assembly, the program is demonstrating steady progress toward meeting its commitments to the U.S. Air Force. Last November, AF-1, the first optimized conventional takeoff and landing variant (CTOL) aircraft, celebrated its initial flight, piloted by Lockheed Martin test pilot David "Doc" Nelson.
Of particular interest to the Air Force, the CTOL variant establishes new levels of operational availability. With simplicity and ease of maintenance designed in, the aircraft has unprecedented reliability and maintainability requirements, along with a reduced deployment footprint. The F-35A will provide unequaled multimission capability with a fraction of the support required by legacy fighters.
The F-35 Lightning II is a 5th generation fighter, combining advanced stealth with fighter speed and agility, fully fused sensor information, network-enabled operations, and lower operational and support costs. Lockheed Martin is developing the F-35 with its principal industrial partners, Northrop Grumman and BAE Systems.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2009 sales of $45.2 billion.
F-35 and Lightning II are trademarks of Lockheed Martin Corporation.
For additional information, visit our Web site:
http://www.lockheedmartin.com

UPDATE 1-Flying laser zaps missile in first for US

Defense News ~ WASHINGTON, Feb 12 (Reuters) - A high-powered laser aboard a modified Boeing Co (BA.N) 747 jumbo jet shot down an in-flight ballistic missile for the first time, highlighting a new class of ray guns best known from science fiction.
The flying laser's long-awaited test on Thursday showcased a potential to zap multiple targets at the speed of light and at a range of hundreds of kilometers, the Pentagon's Missile Defense Agency said in a statement.
"The Missile Defense Agency demonstrated the potential use of directed energy to defend against ballistic missiles when the Airborne Laser Testbed (ALTB) successfully destroyed a boosting ballistic missile," the agency said.
"The revolutionary use of directed energy is very attractive for missile defense," the statement added.
It cited among other things a low cost per intercept compared with other technologies used to defeat missiles that could be tipped with chemical, biological or nuclear warheads.
Directed energy weapons use highly focused rays to attack a target rather than chemical-powered arms. Those in control can tweak the strength involved, unlike a bullet or a bomb, allowing for less-than-lethal uses.
Lasers are well known from science fiction as a type of ray gun. In the real world, they are used for sighting, ranging and targeting for guns.
The experiment marked both the first time a laser weapon has destroyed a ballistic missile and the first time any system has accomplished it in the missile's boost phase of flight.
A boosting missile is easiest to track because its exhaust is bright and hot, but the window lasts only from one to five minutes, meaning the interceptor must be in close proximity.
The modified 747-400F jumbo jet took off from Edwards Air Force Base in California in an experiment that was unannounced before the outcome was made known early Friday.
A short-range ballistic missile was launched from an at-sea mobile launch platform off Point Mugu on the central California coast, the agency said.
Within seconds, the Airborne Laser used on board sensors to detect the missile, then a low-energy laser to track it.
After firing another laser to measure and compensate for atmospheric disturbance, on went its megawatt-class high-energy laser, "heating the boosting ballistic missile to critical structural failure," the agency said.
The engagement took place within two minutes of the target missile's launch while its rocket motors were still thrusting, the agency said.
Boeing, the prime contractor and system integrator, said: "With this successful experiment, the Airborne Laser Testbed has blazed a path for a new generation of high-energy, ultra-precision weaponry."
Michael Rinn, Boeing's program director, said in a statement: "ALTB technology and future directed-energy platforms will transform how the United States defends itself and its friends and allies."
The successful test prompted calls for the Pentagon to restore funding for further development of the Airborne Laser, which President Barack Obama turned into a kind of science experiment last year rather than a development program headed for deployment.
"This defense project should be made ready to protect our homeland at a moment's notice," said Rep. Todd Tiahrt, a Republican from Kansas, where Boeing had been expected to do modification work on the Airborne laser.
Riki Ellison of the Missile Defense Advocacy Alliance, a nonprofit funded partly by defense contractors, said the United States had spent about $5 billion on the Airborne Laser's development since the early 1990s.
"Why would the US Congress and the Department of Defense not fully fund and further develop this system to have it ready to deploy to give our armed forces and allies protection against Iran and North Korea," he said in an email interview.
John Pike, director of GlobbalSecurity.org, a military information website, said the test had not proven anything to him about the system's real-world value.
"The question is whether it can shoot down targets at long range and this test didn't answer the question," he said.
Northrop Grumman Corp (NOC.N) designed and built the higher-energy laser and Lockheed Martin Corp (LMT.N) supplied the beam- and fire-control systems.

(Reporting by Jim Wolf; editing by Andre Grenon)

Lockheed Martin-Built System Aims Laser in Successful Lethal Demonstration Against Ballistic Missile Target

Defense News ~ EDWARDS AIR FORCE BASE, Calif., Feb. 12 /PRNewswire/ -- Lockheed Martin (NYSE:LMT - News) announced today that the Beam Control/Fire Control system for the U.S. Missile Defense Agency's Airborne Laser Testbed (ALTB) successfully aimed the High Energy Laser beam in an experiment Feb. 11, in which a boosting ballistic missile target was destroyed. Â
In the lethal demonstration, the directed energy system aboard the modified Boeing 747-400F aircraft engaged and destroyed the threat-representative ballistic missile target shortly after it was launched from a sea-based platform in the Pacific Ocean. Â
The Lockheed Martin-developed Beam Control/Fire Control system focused and directed the beam generated by the Northrop Grumman-developed megawatt-class High Energy Laser, and the Battle Management System developed by Boeing, Airborne Laser Testbed prime contractor, managed the engagement. Â
"Shooting down a threat-representative ballistic missile target is the latest in a remarkable series of firsts that the government and industry team has achieved in demonstrating this leading-edge technology," said Doug Graham, advanced programs vice president, Lockheed Martin Space Systems Company. Â "This successful experiment validates the effectiveness of this revolutionary technology and makes it the most mature directed energy system in the world, opening the door to further new possibilities for the application of this technology." Â
"The Beam Control/Fire Control System has performed with outstanding results in the most demanding mission to date," said Mark Johnson, Airborne Laser Testbed program director, Lockheed Martin Space Systems Company. Â "The Beam Control/Fire Control System, which consists of a sophisticated suite of optics, low-energy lasers and software, has been rigorously tested in more than 140 flights since 2004, making technology history all along the way as a result the close partnership and dedication of the government and industry team." Â
The Beam Control/Fire Control System tracks the target, determines range to the target, compensates for atmospheric turbulence and focuses and directs the High Energy Laser beam.  Lower-energy lasers – the Track Illuminator Laser and the Beacon Illuminator Laser – determine where to point and focus the High Energy Laser.  The High Energy Laser beam passes through an optical path before exiting through the conformal window on the nose of the aircraft on its way to the target. Â
The Missile Defense Agency manages the Airborne Laser Testbed (formerly known as the Airborne Laser (ABL)), which is executed by the U.S. Air Force from Kirtland Air Force Base, Albuquerque, N.M. Â The Boeing Company (NYSE:BA - News) provides the modified aircraft and the Battle Management System and is the overall systems integrator. Â Boeing's Airborne Laser Testbed industry partners are Northrop Grumman (NYSE:NOC - News), which supplies the High Energy Laser and the Beacon Illuminator Laser, and Lockheed Martin Space Systems Company, Sunnyvale, Calif., which provides the Beam Control/Fire Control System. Â
Lockheed Martin is a world leader in systems integration and the development of air and missile defense systems and technologies, including the first operational hit-to-kill missile. Â The company makes significant contributions to most major U.S. missile defense systems and participates in several global missile defense partnerships. Â
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. Â The Corporation reported 2009 sales of $45.2 billion. Â

Media Contact:
Lynn Fisher,
408-742-7606;
e-mail lynn.m.fisher@lmco.com


Related Headlines
Wild Swings to End Week; Techs Gain - at CNBC
Growth Fears Weigh, but DJIA Gains 86.91 on Week - at The Wall Street Journal Online
Stocks end mixed after China slows lending again - AP
Photo Release -- Northrop Grumman's Dr. William L. Jones Receives NSBE's Lifetime Achievement in Aerospace Award - GlobeNewswire
Photo Release -- Northrop Grumman and U.S. Air Force's Global Hawk Unmanned Aircraft Continues Round-the-Clock Reconnaissance in Haiti - GlobeNewswire

Opsens announces closing of private placement

Defense News ~ QUEBEC CITY, Feb. 12 /CNW Telbec/ - Opsens Inc. (TSX VENTURE EXCHANGE: OPS - News; "Opsens" or the "Company") announces today, the closing of a private placement (the "Private Placement") of 4,287,500 units (the "Units"), at a price of CAD $0.85 per Unit, for an aggregate gross proceeds of CAD $3,644,375. Each Unit is comprised of one common share of Opsens and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles its holder thereof to purchase one common share of the Company at a price of CAD $1.15 per common share for a period of 24 months following the closing date of the Private Placement.
At the closing of the Private Placement, Opsens paid a cash commission of CAD $254,404 to M Partners Inc. (the "Agent") and to Industrial Alliance Securities Inc. (the "Sub-Agent"). Opsens also issued to the Agent and the Sub-Agent, 299,299 non transferable warrants (the "Broker Warrants"). Each Broker Warrant entitles the holder thereof to acquire one common share of Opsens at $0.85 for a period of 24 months from the closing of the Private Placement. The securities issued pursuant to the Private Placement will be subject to a 4-month and a day restricted period expiring on June 13, 2010.
The net proceeds of the Private Placement totalling approximately CAD $3,3 million will be used for working capital purposes, potential acquisitions as well as marketing expenses, particularly for the commercialization on a larger scale of the Opsens' patented OPP-W fiber optic pressure/temperature sensor. The receipt of a commercial size order from an oil and gas producer in Alberta that had been testing Opsens' patented technology for 18 months, has generated interest from major oil and gas producers in Alberta looking for a mean to control pressure to optimize the quantity of steam to inject to reduce operation costs
About Opsens (www.opsens.com)

Opsens is a leading developer, manufacturer and supplier of a wide rangeof fiber optic sensors and associated signal conditioners based on proprietarypatented and patent pending technologies. Opsens' sensors provide long-termaccuracy and reliability in the harshest environments. Opsens provides sensorsto measure pressure, temperature, strain and displacement to originalequipment manufacturers (OEM) and end-users in the oil and gas, medical,high-power transformers, and laboratory fields. Opsens provides completetechnical support, including installation, training, after-sales service, forits fiber optics systems that are regulated by the ISO 9001-2008 norm.
Opsens Inc was recognized as a TSX Venture 50(R) company in 2010. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Opsens to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.

For further information
Pierre Carrier,

President and Chief Executive Officer,

(418) 682-9996

Louis Laflamme,

CA, Chief Financial Officer,

(418) 682-9996

Related Headlines
Opsens announces closing of private placement - CNW Group
Opsens named as part of 2010 TSX Venture 50 - CNW Group
Opsens announces private placement - CNW Group
Abiomed announces partnership with Opsens to utilize sensor technology for Impella - CNW Group
Opsens reports first quarter 2010 results - CNW Group

Two Northrop Grumman Laser Systems Help Airborne Laser Testbed Turn Science Fiction Into Fact

Defense News ~ REDONDO BEACH, Calif., Feb. 12, 2010 (GLOBE NEWSWIRE) -- The Airborne Laser Testbed (ALTB) transitioned from science fiction to directed energy fact Feb. 11 when it put a lethal amount of 'light on target' to destroy a boosting ballistic missile with help from a megawatt-class laser developed by Northrop Grumman Corporation (NYSE:NOC - News).
While ballistic missiles like the one ALTB destroyed move at speeds of about 4,000 miles per hour, they are no match for a super-heated, high-energy laser beam racing towards it at 670 million mph. The basketball-sized beam was focused on the foreign military asset, as the missile is called officially, for only a few seconds before a stress fracture developed, causing the target to catastrophically split into multiple pieces.Â
"This experiment shows the incredible potential for directed energy as a premier element in early or ascent phase missile defense," said Steve Hixson, vice president of Space and Directed Energy Systems for Northrop Grumman's Aerospace Systems sector. "The demonstration leaves no doubt whatsoever about ALTB's unprecedented mobility, precision and lethality," he added. Hixson is a former ALTB program manager for the company.
Northrop Grumman executives said the high-energy Chemical Oxygen Iodine Laser the company provides – the most powerful laser ever developed for an airborne environment – performed reliably once again with other critical capabilities onboard the U.S. Missile Defense Agency's ALTB. This includes the low-power, solid-state Beacon Illuminator Laser for atmospheric compensation, a targeting laser Northrop Grumman also supplies for the ALTB system.
"The continued dependable and consistent performance of both laser systems is the result of our dedicated team and its unwavering commitment to develop game-changing technology for our military forces," said Guy Renard, Northrop Grumman's ALTB program manager. "The impressive progress made by the government and industry team during the last three-and-a-half years could not have culminated any more dramatically than this successful experiment."
The experiment, a proof-of-concept demonstration, was the first directed energy lethal intercept demonstration against a liquid-fuel boosting ballistic missile target from an airborne platform.
Northrop Grumman is under contract to The Boeing Company, ALTB's prime contractor, for the two laser systems. The ALTB is a modified Boeing 747-400F whose back half holds the high-energy laser. The front section of the aircraft contains the beam control/fire control system, developed by Lockheed Martin, and the battle management system, provided by Boeing.
Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide.

Contact:
Bob Bishop
Northrop Grumman Aerospace Systems
310.812.5227
Cell: 310.251.0261
bob.j.bishop@ngc.com


Related Headlines
Photo Release -- Northrop Grumman's Dr. William L. Jones Receives NSBE's Lifetime Achievement in Aerospace Award - GlobeNewswire
Photo Release -- Northrop Grumman and U.S. Air Force's Global Hawk Unmanned Aircraft Continues Round-the-Clock Reconnaissance in Haiti - GlobeNewswire
NORTHROP GRUMMAN CORP /DE/ Financials - EDGAR Online Financials
Lockheed Martin-Built System Aims Laser in Successful Lethal Demonstration Against Ballistic Missile Target - PR Newswire
Two Northrop Grumman Laser Systems Help Airborne Laser Testbed Turn Science Fiction Into Fact - GlobeNewswire