FAIRFAX, Va., March 31, 2010 — 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 has been awarded a follow-on contract to deliver Intelligence Surveillance Reconnaissance (ISR) capabilities and systems to a critical government customer. The contract has a value of over $10 Million.
Dr. Terry Collins, Chairman and CEO, Argon ST, Inc., said, "Argon received this award in large part as a result of the government's continued confidence in our ISR technology. These systems utilize the commercial off-the-shelf technology and software that have helped Argon to lead the market with our highly-efficient development, easy integration and rapid deployment. This award is yet another indicator that our base organic business is strong and growing."
"The set of capabilities and systems we will be delivering are important to our intelligence community" said Joe Carlin, Senior Vice President, Information Dominance, Argon ST, Inc. "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.
Forward Looking Statement
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, 2009). Some of these specific risks, although not all, are: general economic, business and political conditions nationally and internationally, including federal budgetary priorities; difficulties in developing and producing operationally advanced technology systems; the cost and availability of office and laboratory space; the timing and customer acceptance of contract deliverables; the number, length and type of contracts and task orders awarded to the Company by its commercial and governmental customers; the market for the Company's products and services; changes in the U.S. federal government procurement laws, regulations, and policies; 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; availability of cash or capital; 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.