LaBarge Awarded $7.4 Million Contract From Raytheon for F/A-22
Raptor Backplane Assembly
ST. LOUIS, July 6 /PRNewswire-FirstCall/ -- LaBarge, Inc. (AMEX:LB) has
received a contract valued at $7.4 million from the Raytheon Company's Space
and Airborne Systems in El Segundo, Calif., to continue to produce backplane
assemblies for the F/A-22 Raptor, a stealth fighter plane developed for the
U.S. Air Force. LaBarge has manufactured the backplane assemblies for Raytheon
since 2002.
Used in the F/A-22's Common Integrated Processor (CIP), the backplane
assemblies built at LaBarge process electronic signals for the entire aircraft. Developed as the "brains" of the F/A-22, the CIP uses fiber optics and
high-speed integrated circuit technology to fuse and convert data into a clear,
concise picture of the combat situation, which dramatically reduces pilot
workload and allows the pilot to focus fully on executing the designated
mission and returning unscathed from battle.
The Company expects production at LaBarge's Joplin, Mo., facility to begin in
the fourth quarter of calendar 2005 and continue through fall 2006.
A Raytheon preferred supplier, LaBarge is a recipient of Raytheon's prestigious
Leadership Excellence Award.
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: Jennifer Noonan of LaBarge, Inc., +1-314-997-0800, ext. 469, Web site: http://www.labarge.com/
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