Astronics Wins U.S. Marine Corps Contract to Provide Test Systems to Saudi Arabian Ministry of National Guard
April 09 2015 - 6:55AM
Astronics Corporation (Nasdaq:ATRO), a leading provider of advanced
technologies for the global aerospace, defense, consumer
electronics and semiconductor industries, announced today that
Astronics' subsidiary, DME Corporation, has been awarded a contract
to provide Virtual Instrument Portable Equipment Repair/Test
(VIPER/T) systems and Application Program Sets (APSs) to the United
States Marine Corps Program Manager-Light Armored Vehicles (PM-LAV)
Foreign Military Sales office on behalf of the Kingdom of Saudi
Arabia's Ministry of National Guard (MNG). The test systems are
required to support the MNG's fleet of various Light Armored
Vehicles.
The contract, valued at $3.6M and issued by Naval Surface
Warfare Center Corona, is for First Article and initial production
units of the systems and APSs that will be produced and delivered
within a 30-month period of performance. Procurement of additional
production units is expected at a later date.
The VIPER/T MNG systems will feature Astronics' new T940 Digital
Subsystem which is a replacement for obsolete, legacy VIPER/T
digital test instrumentation. The Astronics T940 digital solution
provides improved system performance, preserves legacy test program
sets' investment and offers lower life cycle costs.
Peter J. Gundermann, President and CEO of Astronics commented
"As the provider of the original VIPER/T systems, we are ideally
suited to support the requirements of the U.S. Marine Corps and the
Saudi program for advanced automated test systems and test program
sets. Our advanced technology provides the flexibility needed for
the increasingly complex requirements of electrical and
electro-optic circuitry within weapons systems, radar, navigational
systems and communication equipment. We look forward to additional
opportunities to advance this effort with the U.S. Marine
Corps."
ABOUT ASTRONICS CORPORATION
Astronics Corporation (Nasdaq:ATRO) is a leading supplier of
products and technology to the aerospace, defense, consumer
electronics and semiconductor industries. Our products include
advanced, high-performance electrical power generation and
distribution systems, lighting and safety systems, avionics
products, aircraft structures and automatic test and simulation
systems. Astronics' strategy is to increase its value by developing
technologies and capabilities, either internally or through
acquisition, and using those capabilities to provide innovative
solutions to our targeted markets and other markets where our
technology can be beneficial. Astronics Corporation, through its
wholly-owned subsidiaries, has a reputation for high-quality
designs, exceptional responsiveness, strong brand recognition and
best-in-class manufacturing practices. The Company routinely posts
news and other important information on its website at
www.astronics.com.
For more information
on Astronics and its products, visit its website at:
www.Astronics.com.
Safe Harbor Statement
This news release contains forward-looking statements as defined
by the Securities Exchange Act of 1934. One can identify these
forward-looking statements by the use of the words "expect,"
"anticipate," "plan," "may," "will," "estimate" or other similar
expressions. Because such statements apply to future events, they
are subject to risks and uncertainties that could cause actual
results to differ materially from those contemplated by the
statements. Important factors that could cause actual results to
differ materially include the capabilities of the acquired company,
achieving expected revenue levels, successfully leveraging
complementary capabilities in the Test Systems segment, the state
of the aerospace and defense industries, the market acceptance of
newly developed products, internal production capabilities, the
timing of orders received, the status of customer certification
processes, the demand for and market acceptance of new or existing
aircraft which contain the Company's products, customer
preferences, and other factors which are described in filings by
Astronics with the Securities and Exchange Commission. The Company
assumes no obligation to update forward-looking information in this
news release whether to reflect changed assumptions, the occurrence
of unanticipated events or changes in future operating results,
financial conditions or prospects, or otherwise.
CONTACT: For more information contact:
Company:
David C. Burney, Chief Financial Officer
Phone: (716) 805-1599, ext. 159
Email: david.burney@astronics.com
Investor Relations:
Deborah K. Pawlowski, Kei Advisors LLC
Phone: (716) 843-3908
Email: dpawlowski@keiadvisors.com
Astronics (NASDAQ:ATRO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Astronics (NASDAQ:ATRO)
Historical Stock Chart
From Sep 2023 to Sep 2024