$ 40 possible soon as SBL gets major contract!
Tuesday July 13, 6:33 pm Eastern Time
Company Press Release
U.S. Department of Defense Awards Symbol Technologies Exclusive Five-Year Prime Contract for Up to $248 Million for Automatic Identification Technologies and Services
HOLTSVILLE, N.Y.--(BUSINESS WIRE)--July 13, 1999--Symbol Technologies Inc. (NYSE:SBL - news) announced today that the U.S. Department of Defense (DoD) has awarded it a contract with an authorized maximum of $248 million over the five-year term. Symbol, as prime contractor, will supply a complete line of wireless mobile computing and scanning systems to meet demanding military applications.
The contract, the largest in Symbol's history, includes all related software, services, support and systems integration. Although the exact value of the contract cannot be determined at this time, it is expected that Symbol's business partners will supply approximately one-third of the contract's value. Volume shipments will begin in the second half of next year.
Under this major DoD contract, all branches of the military will purchase systems and services from Symbol to fulfill projects for the next five years. Symbol will provide customer service to support these projects for an additional five years.
While Symbol has provided bar code laser scanning solutions to the DoD for more than 15 years, starting with the original LOGMARS contract to supply logistics solutions, it is the first time that Symbol has been chosen as the prime contractor.
Symbol and its subcontractor business partners will provide technology solutions for a number of projects which will enhance the effectiveness and productivity of the military. Symbol will support projects which may include the rapid and accurate deployment of materials and personnel throughout the world; tracking supplies through the military's global distribution centers and logistics network; and advanced identification of the military personnel.
Wireless and mobile computing technologies are becoming an increasingly important part of military applications. Handheld pen and keyboard-based computers and fixed-mount computers will support Windows CE(TM) and DOS operating systems and include integrated PDF417 bar code scanning. Wireless local area network solutions will include the 802.11 standards-based Spectrum24® infrastructure as well as Symbol's Spectrum One network. Included in this contract is a wide range of 1D and PDF417 bar code laser scanners, imagers and scanning-enabled computers. Other equipment includes printers, bar code verifiers, mag stripe encoders and readers, contact memory buttons, optical memory cards, smart cards, and ID card production systems.
''This is a breakthrough contract for Symbol because it is the largest contract in our history and the first time we have been selected as prime by the DoD,'' said Dr. Jerome Swartz, chairman and chief executive officer, Symbol Technologies. ''Symbol is pleased to support the military in its ongoing efforts to implement advanced mobile and wireless data transaction solutions.''
''We're extremely proud that the Department of Defense has chosen Symbol as its provider of auto-id systems and services,'' said Tomo Razmilovic, president and chief operating officer, Symbol Technologies. ''They conducted extensive evaluations and selected Symbol based on the superior breadth and technical performance of the product line, our global services and support capabilities, and the world-class expertise of our partners.''
Symbol Technologies is a global leader in mobile data management systems and services with innovative customer solutions based on wireless local area networking for voice and data, application-specific mobile computing and bar code data capture. Symbol's wireless LAN solutions are installed at more than 40,000 customer locations, and more than seven million scanners and application-specific scanner-integrated mobile computing systems are in use worldwide. Symbol and its global network of business partners provide solutions for retailing, transportation and distribution logistics, parcel and postal delivery, healthcare, education, manufacturing and other industries. Customer information is available from Symbol at 800-722-6234 and www.symbol.com.
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Contact:
For press information:
Symbol Technologies
Doug Picker, 516-738-4699
picker@symbol.com
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For financial information:
Symbol Technologies
Ken Jaeggi, 516-738-3909
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