FAIRFAX, Va., March 22, 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 was awarded a contract by the U.S. Army's Communications-Electronics Command (CECOM) Acquisition Center in Fort Monmouth, NJ to provide platform enabler development.
The approximately $17 million effort calls for Argon to perform advanced development services in airborne signals intelligence. Platform enablers are part of CECOM's mission to develop, and transition to the field information technologies and integrated systems in order to secure battlespace dominance for America's warfighters. Through the application of platform enablers, platforms can easily and affordably be upgraded, ensuring continuing data collection and transmission even as threat technologies evolve.
"The work on this project will help to ensure that warfighters have uninterrupted access to advanced airborne SIGINT technology," commented Kerry Rowe, President and Chief Operating Officer, Argon ST. "Argon's Lighthouse/Prism product line model is ideal for what the U.S. Army is striving for with platform enablers. Through the use of commercial off-the-shelf based products, reusable software, and repeatable processes, we are able to effectively and efficiently bring new capabilities to market as well as upgrade those already in theatre in a streamlined and efficient manner."
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.