FAIRFAX, Va., October 21, 2008 — Argon ST, Inc. (NASDAQ: STST), a leading developer of command, control, communications, computers, combat systems, intelligence, surveillance, and reconnaissance (C5ISR) systems, today announced that it has been awarded a follow-on contract to deliver new Intelligence Surveillance Reconnaissance (ISR) capabilities and systems to a longtime government customer. The fully funded contract has a value of $12 million.
Dr. Terry Collins, Chairman and CEO, Argon ST said, "Argon received this award in large part as a result of our historically strong program execution with this client. The warfighting systems we will be delivering will utilize the industry leading commercial off-the-shelf (COTS) technology and software-based ISR systems that have helped Argon to differentiate itself through highly efficient development, easily integrated systems and rapid speed to market. We will be serving as the prime contractor on this program and are pleased to announce another indicator that our base organic business is strong and growing."
"The set of capabilities and systems we will be delivering are important in fighting and winning the global war on terrorism in which ISR systems must adapt faster than threat technology," said Joe Carlin, Vice President, Information Dominance, Argon ST. "Argon has a unique value proposition for software-based ISR systems which will help enable our forces to manage the complex challenges they must overcome to successfully execute and complete their missions."
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.
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, 2007). Some of these specific risks, although not all, are: the availability of governmental funding for the Company's products and services; changes in the U.S. federal government procurement laws, regulations, policies and budgets; the number, length and type of contracts and task orders awarded to the Company by its customers; 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; 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; 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.
Argon ST, Inc.