ST. LOUIS, Nov. 29 /PRNewswire-FirstCall/ -- LaBarge, Inc. (AMEX:LB) has been awarded contracts valued at $4.25 million from Lockheed Martin to continue to produce circuit card assemblies for Lockheed Martin's AN/TPS-77 and AN/FPS-117 ground-based radar systems.
LaBarge has been a primary supplier of circuit card assemblies for Lockheed Martin's ground-based radar systems since 1990. Production on this latest award, which will take place at LaBarge's Tulsa facility, began this month and is expected to continue through December 2006.
Designed to provide both air surveillance and air traffic control, the ground based radar systems provide 3-D data on range, direction and altitude of in-flight objects, with optional air and missile defense capability. The AN/TPS-77, which is the latest mobile configuration of the AN/FPS-117 design, provides continuous high-quality 3-D surveillance on air targets at ranges out to 280 miles and at elevations up to 100,000 feet. Delivered to the United States and allied forces, the radar systems are operational in 14 countries.
LaBarge, Inc. is a broad-based provider of electronics to technology- driven companies in diverse markets. The Company provides its customers with sophisticated electronic products through contract design and manufacturing services. Headquartered in St. Louis, LaBarge has operations in Arkansas, Missouri, Oklahoma, Pennsylvania and Texas. The Company's Web site may be accessed at http://www.labarge.com/ .
Statements contained in this release relating to LaBarge, Inc. that are not historical facts are forward-looking statements within the meaning of the federal securities laws. Matters subject to forward-looking statements are subject to known and unknown risks and uncertainties, including economic, competitive and other factors that may cause LaBarge or its industry's actual results, levels of activity, performance and achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Important factors that could cause LaBarge's actual results to differ materially from those projected in, or inferred by, forward-looking statements are (but are not necessarily limited to) the following: the impact of increasing competition or deterioration of economic conditions in LaBarge's markets; cutbacks in defense spending by the U.S. Government; loss of one or more large customers; LaBarge's ability to replace completed and expired contracts on a timely basis; the Company's ability to integrate recently acquired businesses; the outcome of litigation the Company may be party to; increases in the cost of raw materials, labor and other resources necessary to operate LaBarge's business; the availability, amount, type and cost of financing for LaBarge and any changes to that financing; and other factors summarized in our reports filed from time to time with the Securities and Exchange Commission. Given these uncertainties, undue reliance should not be placed on the forward-looking statements. Unless otherwise required by law, LaBarge disclaims any obligation to update any forward-looking statements or to publicly announce any revisions thereto to reflect future events or developments. DATASOURCE: LaBarge, Inc.
CONTACT: Colleen Clements of LaBarge, Inc., +1-314-997-0800, ext. 409, or Web site: http://www.labarge.com/
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