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Argon ST, Inc. Announces $8 Million Contract Award for Airborne Systems Production

^{Published on 2009-02-26 11:04:53, Last Modified on 2009-11-04 08:46:52 - Market Wire}
 

FAIRFAX, Va.--([ BUSINESS WIRE ])--Argon ST, Inc. (NASDAQ:STST), a leading developer of command, control, communications, computers, combat systems, intelligence, surveillance, and reconnaissance (C5ISR) systems, today reported that it has been awarded an $8 million contract to produce additional airborne sensor systems for the United States government.

"While the information I can discuss associated with this contract is limited, I am pleased to note that this award is strategic to one of our key 2009 objectives, to grow market share in the airborne reconnaissance market," commented Dr. Terry Collins, Chairman and Chief Executive Officer, Argon ST. "During 2008, our airborne team successfully integrated advanced beam forming technology into our Lighthouse and Prism product lines to achieve breakthroughs in system performance for airborne platforms. We believe these accomplishments will be instrumental in creating a strong position for us in future competitions in this market."

About Argon ST, Inc.

Argon ST, Inc. designs, develops, and produces systems and sensors for the Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance (C5ISR) markets including SIGINT (Signals Intelligence), ESM (Electronic Support Measures), EW (Electronic Warfare), IO (Information Operations), imaging, and acoustic systems serving domestic and international markets.

Forward-Looking Statements

Statements in this press release which are not historical facts are forward-looking statements under the provision of the Private Securities Litigation Reform Act of 1995. . These statements may contain words such as "expects", "could", "believes", "estimates", "intends", "may", "envisions", "targets" or other similar words. Forward-looking statements are not guarantees of future performance and are based upon numerous assumptions about future conditions that could prove not to be accurate. Forward looking statements are subject to numerous risks and uncertainties, including without limitation the risks and uncertainties identified in the reports filed by the Company with the Securities and Exchange Commission (including the Company's Form 10-K for the fiscal year ended September 30, 2008). Some of these specific risks, although not all, are: the availability of both commercial and governmental funding for the Company's products and services; changes in the U.S. federal government procurement laws, regulations, and policies; the number, length and type of contracts and task orders awarded to the Company by its commercial and governmental customers; difficulties in developing and producing operationally advanced technology systems; the timing and customer acceptance of contract deliverables; the Company's ability to attract and retain qualified personnel; charges from any future impairment reviews; the future impact of any acquisitions or divestitures the Company may make; the competitive environment for information technology products and services; general economic, business and political conditions, including federal budgetary priorities; and other factors affecting the Company's business that are beyond its control. All of the forward-looking statements should be considered in light of these factors. Investors should not put undue reliance on any forward-looking statements. We undertake no obligation to update these forward-looking statements to reflect new information, future events or otherwise.