Sensytech, Inc. Announces Bookings of $17M in the Fourth Quarter To Include a Contract Award of $7.92M for the AN/SLQ-25A Surface Ship Torpedo Defense System
Tuesday October 8, 12:57 pm ET
NEWINGTON, Va.--(BUSINESS WIRE)--Oct. 8, 2002--Sensytech, Inc. (Nasdaq:STST - News), received a contract award from the US Navy of $7.92 million for the production, test, and delivery of 14 additional AN/SLQ-25A, Surface Ship Torpedo Defense Systems and spares. The AN/SLQ-25A is designed to provide ships with a countermeasure capability against torpedoes. Variants of the AN/SLQ-25A have been offered to select foreign nations for acquisition through this contract. A majority of the work will be performed by ST Production Systems, Inc. (STPSI), a wholly owned subsidiary of Sensytech, Inc.
David Smith, President and COO of Sensytech, Inc., stated, "The award of additional AN/SLQ-25A production units is on plan with our performance expectations for the Defense Systems group. In addition to this award, we are also experiencing increased demand for our products and services in our Imaging and Communications groups. This increased demand has resulted in bookings in our fourth quarter of $17M in newly funded business." |
