FAIRFAX, Va., May 28, 2009 — Argon ST, Inc. (NASDAQ: STST), 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 was awarded a contract by the U.S. Navy's Office of Naval Research (ONR) to provide system development support for the Integrated Topside (InTop) program.
A new initiative by the ONR, InTop aims to integrate topside radio frequency capabilities into multi-functional solutions using common apertures and processing equipment to reduce antenna clutter, mitigate electromagnetic interference (EMI), and reduce radar cross-section (RCS) for U.S. Navy platforms.
Argon is one of several companies approved to provide solutions that support the study, design, fabrication, integration, and test & evaluation (T&E) tasks anticipated for the formulation of Advanced Development Models (ADMs) and subsequent Engineering Development Models (EDM), followed by Low Rate Initial Production (LRIP) of component systems of InTop systems on various Naval platforms.
The contract, an indefinite-delivery/indefinite-quantity (IDIQ) contract with a five-year period of performance, has a maximum value of $500 million. Argon will compete with other awardees for task orders to support the InTop mission.
"With any given ship suite of sensor, weapon and control systems, ship topside architecture and design has more influence over realized ship warfare mission capability than any other ship system or engineering design discipline," commented Kerry Rowe, President and Chief Operating Officer, Argon ST. "We are honored to have been selected to participate in a program that will define the next generation of U.S. Navy surface ships."
Terry Collins, Chairman and Chief Executive Officer, Argon ST said, "This award builds on the strong momentum our maritime business has experienced in recent months. We believe we are well-positioned to successfully compete for the upcoming task orders. Our broad industry involvement and experience in creating capable, adaptable and affordable ship sensor designs together with our expertise in emerging system technologies geared towards improved ship capabilities and flexibility are central requirements of the InTop program."
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. 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 risk and uncertainties associated with government contracting, including but not limited to funding allocation and availability and program continuation. All forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements. Our actual results could differ materially as a result of such risks and other factors. Any 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.