Trading around 1.25 on Nasdaq:
Miltope Receives $13.5 Million Order for SPORT
MONTGOMERY, Ala., Jan. 25 /PRNewswire/ -- Miltope Group Inc., (Nasdaq: MILT - news) announced the receipt of an
order for hardware used in the U.S. Army's SPORT (Soldiers Portable On-System Repair Tool) Program in excess of $13.5
million for delivery in FY 2000. This delivery order encompasses the hardware system and peripherals, which augment the U.S.
Army's capability to diagnose and repair weapon systems, tracked and wheeled vehicles. Miltope has been issued delivery
orders valued at over $37.0 million since the inception of this contract.
Brig. Gen. (Ret.) Thomas Dickinson, Miltope's CEO said, ``This delivery order further solidifies Miltope's relationship with the
U.S. Army in helping meet its needs for state of the art diagnostic equipment. With improvement in our internal operations and
several new cost cutting initiatives, Miltope has been able to offer the Army an outstanding product at lower cost. The $13.5
million order for year 2000 represents a 24% increase over the corresponding year 1999 SPORT order. This is evidence of
Miltope's continued ability to provide cutting edge, rugged equipment while maintaining its value pricing.'
Miltope Corporation specializes in the design, development and production of rugged computers, workstations, printers, mass
storage devices and related peripherals that must operate in the most demanding environmental conditions. Miltope supplies a
complete line of rugged computer products utilized in commercial, industrial, airborne and military applications.
The matters discussed in this news release that are not historical facts are ``forward looking statements' within the meaning of
the Private Securities Litigation Reform Act of 1995 and the Company intends that such forward looking statements be subject
to the safe harbors created thereby. The Company warns that caution should be taken in relying upon any forward looking
statements contained herein, as they involve a number of risks and uncertainties that may cause the actual results of the
Company to be materially different from any future results expressed or implied by such forward looking statements. Examples
of such risks and uncertainties include, but are not limited to, future demand for the Company's products and services, general
economic conditions, actions of competitors, termination of contracts at the convenience of the United States government,
customer funding variations in connection with multi-year contracts and follow-on options, and other risks and uncertainties.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described herein as anticipated, believed, estimated or expected. The Company does not
undertake any obligation to update or revise any forward looking statement made by it or on its behalf, whether as a result of
new information, future events or otherwise.
SOURCE: Miltope Group Inc. |
