Aerosonic Announces New U.S. Army Contract
CLEARWATER, Fla., Nov. 24 /PRNewswire-FirstCall/ -- Aerosonic Corporation ,
announced today that it has been awarded a contract from the U.S. Army to
overhaul encoding altimeters. The first year firm order is valued at $962,500
and is followed by two option years. The total value of the 3-year contract,
including the option years, is $4,320,000. The altimeter involved is standard
equipment on a wide variety of military aircraft, including both fixed wing and
rotorcraft.
Mark Perkins, Aerosonic's Executive Vice President of Sales and Marketing,
stated: "This is great news for us. We are proud to play such a vital role in
the safe operation of our nation's military aircraft. During a period of very
strong demand for delivery of new aircraft instruments, this contract allows us
to generate additional service-based revenue without incurring costs associated
with increasing capacity." Aerosonic Corporation is a recognized leader in the manufacture of aviation
products for the aerospace and defense industries. It is headquartered in
Clearwater, Florida and has operating divisions in Clearwater, at its wholly
owned subsidiary Avionic Specialties, Inc. in Virginia, and in Wichita, Kansas.
This press release contains statements that constitute "forward-looking"
statements within the meaning of the Securities Act of 1933 and the Securities
Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. "Forward-looking" statements contained in this document include the intent,
belief or current expectations of the Company and its senior management team
with respect to future actions by officers and directors of the Company,
prospects of the Company's operations, as well as the assumptions upon which
such statements are based.
Investors are cautioned that any such forward-looking statements are not
guarantees of future performance, and that actual results may differ materially
from those contemplated by such forward-looking statements. The Company
undertakes no obligation to update or revise the forward-looking statements
contained in this document to reflect changed assumptions, the occurrence of
unanticipated events, or changes to future operating results over time. DATASOURCE: Aerosonic Corporation CONTACT: P. Mark Perkins of Aerosonic Corporation, +1-727-461-3000, Web site: http://www.aerosonic.com/
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