TeleCommunication Systems Receives $11.4 Million in Funding From U.S. Army for SNAP Deployable Satellite Systems Field Support
November 17, 2011 07:30 ET
TeleCommunication Systems Receives $11.4 Million in Funding From U.S. Army for SNAP Deployable Satellite Systems Field Support
ANNAPOLIS, MD--(Marketwire - Nov 17, 2011) - TeleCommunication Systems, Inc. (TCS) (
This additional funding will enable TCS to provide support for its highly reliable SNAP deployable communications products. The U.S. Army Project Manager for the Warfighter Information Network - Tactical (PM WIN-T) Commercial Satellite Terminal Program is funding these procurements through the Army's $5 billion World-Wide Satellite Systems (WWSS) contract vehicle, which has been extended to July 27, 2012 with all deliveries required to be completed by August 28, 2012.
"Our warfighters must have reliable, secure communications systems," said Michael Bristol, senior vice president and general manager of government solutions for TCS. "With TCS' Army-proven, battle-ready SNAP satellite-based product lines and our dedicated, knowledgeable field service support professionals behind them, their chances of mission success are even greater."
The TCS SNAP VSAT systems used to fulfill SNAP program requirements provide multimedia communications capabilities which convey encrypted voice, video and data. TCS SNAP products are highly transportable and ruggedized, and have a graphical user interface that facilitates easy set-up and operation. The modularity and plug-and-play interfaces between all radio frequency (RF) and baseband configurations inherent in the SNAP product line result in communication solutions tailored to the end-user's specific needs.
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (
Except for the historical information contained herein, this news release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties and are based upon TCS' current expectations and assumptions that if incorrect would cause actual results to differ materially from those anticipated. Risks include without limitation the possibility that the contract options will not be exercised, or that the total value of the order will not be fully funded, and those detailed from time to time in the Company's SEC reports, including the reports on Form 10-K for the year ended December 31, 2010, and on Form 10-Q for the quarter ended September 30, 2011.
Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise the information in this press release, whether as a result of new information, future events or circumstances, or otherwise.