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Technology Stocks : Microdyne (MCDY)

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To: Sunny Span who wrote (143)4/11/1997 3:06:00 PM
From: Lee Kennedy   of 414
 
NEWS

Friday April 11 1:36 PM EDT

Microdyne Receives Order for `Proof of Concept'
Multi-Function Receiver for National Oceanographic and
Atmospheric Administration

ALEXANDRIA, Va., April 11 /PRNewswire/ -- Microdyne Corp today said the
National Oceanographic and Atmospheric Administration (NOAA) has ordered
a proof-of-concept Multi-Function Receiver, or MFR, from its Aerospace
Telemetry Division. If the advanced product proves acceptable, Microdyne
could see orders for several dozen of the $250,000 systems.

An MFR consists of six of Microdyne's industry-standard Model 700-MR telemetry receivers,
three diversity combiners (which pair telemetry receivers to ensure signal reception for both
horizontal and vertical polarity), and a phased comparator assembly (which allow all six receivers
to work in unison, receiving signal "feeds" from multiple antennae). MFRs are used when groups of
antennae are used in phased arrays. NASA and NOAA have dozens of such sites.

"Delivery of NOAA's first MFR will represent the proof of concept for this product," says Chris
Spitz, Senior Vice President - Aerospace Telemetry. "A number of government agencies expect to
have continuing requirements for equipment similar to our Multi-Function Receiver, as systems
installed in the 1970s and early 1980s are replaced and upgraded. The vendors who supplied that
earlier generation MFR no longer either manufactures or support the equipment. The replacement
of those systems should generate several million dollars in sales over the next two to three years."

Another order, valued at over $300,000, was received from the Naval Surface Warfare Center at
Dalghren, Virginia. The research facility's order is for a total of 18 board-level telemetry
receivers and diversity combiners which will be used in compact, portable
tracking systems for missile test programs.

"We continue to be very pleased by the market reception to our VMR-2000- series receivers,"
Mr. Spitz says. "Rather than cannibalizing sales of our full-size, full-feature receivers, the
VMR-2000s are opening up new applications in which customers would have otherwise
implemented solutions that did not involve Microdyne products."

Telemetry: What It Is, How It Is Used

Telemetry is the technology of measuring various equipment performance parameters at a distance,
and is required when the object under test is moving too quickly or is at too great a distance to use
wires. Information may consist of readings from hundreds of sensors recording such things as heat,
vibration, stress and operational performance. Each sensor will produce its own data stream which
must be transmitted and captured. In telemetry, data is gathered, multiplexed, and transmitted at
microwave frequencies, usually in a rapid burst form, toward a ground station. There, a highly
selective radio receiver gathers the information. In other applications such as weather satellites or
space vehicles, the information will consist of data and video transmissions. The U.S. Government
operates several hundred ground stations, each of which may have racks of telemetry receivers.
Other governments operate dozens of sites.

Telemetry receivers monitor the multiple data streams produced by thousands of sensors on board
fast-moving vehicles such as aircraft, missiles, satellites, or the space shuttle. Diversity combiners
allow two telemetry receivers to monitor a data stream from an object that may be rotating and
thus changing the polarity of its signal. Signal simulators are used to test other telemetry equipment.

Microdyne's Aerospace Telemetry Division

Microdyne's Aerospace Telemetry Division, located in Ocala, Florida, is the world's premier
developer and manufacturer of telemetry receivers; the specialized high-frequency radios used in
aerospace and satellite communications. The Aerospace Telemetry Division is also a provider of
systems integration services for telemetry programs. Formed in 1968, the division has been
responsible for technical innovations in the design and application of telemetry products throughout
the space era. Today, the division's products serve the needs of the aerospace industry, satellite
communications providers, and other users of high-precision, high-reliability long-range monitoring
and control equipment.

Microdyne has been a long-time supplier to the U.S. Air Force, U.S. Navy, and NASA, and was
awarded an $11 million systems integration contract by the Italian Ministry of Defense in late 1996.
Also during the past year, Microdyne has been awarded contracts to supply telemetry gear for
such uses as low-earth-orbit satellite terminal equipment, Japan's FSX fighter program support, the
Singaporean government's aircraft test program, AT&T satellite control modernization, as well as
numerous NASA, NOAA, and other U.S. government agency programs.

Microdyne Corporation

Headquartered in Alexandria, Virginia, Microdyne Corporation develops, manufactures, and
markets data communications and network connectivity products; provides outsourced technical
support services; and develops and manufactures telemetry products. Microdyne reported $99.1
million in revenue in its fiscal year ended September 29, 1996.

Microdyne's shares are traded on the Nasdaq Stock Market; symbol MCDY. For additional
information on the company, please visit Microdyne's Web site at www.microdyne.com.
SOURCE Microdyne Corporation
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