ST. LOUIS, Nov. 15 /PRNewswire-FirstCall/ -- LaBarge, Inc. (AMEX:LB) has been awarded an additional $2.2 million contract from The Boeing Company to continue to supply wire harness assemblies for U.S. Air Force T-38C training jets. LaBarge began manufacturing the assemblies for Boeing in 2000. The Company anticipates additional work on the program.
Manufactured in Berryville, Ark., the LaBarge-built wire harness assemblies are part of the U.S. Air Force's T-38 Avionics Upgrade Program. Through that program, Boeing is upgrading more than 450 of the advanced-jet training aircraft. The jets feature a large-field-of-view head-up display in the front cockpit; multi-functional displays; an integrated global positioning and navigation system; and a traffic collision avoidance system. LaBarge's cable assemblies will support critical functions in the aircraft cockpit.
Production is expected to continue through September 2006.
The Avionics Upgrade Program is part of the Air Force Pacer Classic initiative that will extend the life of the advanced supersonic trainers until 2020. Boeing expects the upgrade program to significantly improve the avionics reliability of the T-38 and reduce support costs for the Air Force.
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, Web site: http://www.labarge.com/
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