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Technology Stocks : Signal Technology (now STCO)- a classic turnaround

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Nov 7 9:30 AM EST

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To: Paul Lee who wrote ()	12/9/1999 6:54:00 AM
From: Paul Lee	of 191

Signal Technology Arizona Operation Awarded Digitally Tuned Oscillator Contract for Northrop Grumman's AN/ALQ-135 Electronic Countermeasures Suite for F-15 Aircraft DANVERS, Mass.--(BUSINESS WIRE)--Dec. 9, 1999--Signal Technology Corp. (AMEX:STZ) today announced that it has signed an initial $500,000 contract for the AN/ALQ-135(V) Band 1.5 Tactical Electronic Warfare System for Northrop Grumman's Defensive Systems Division in Rolling Meadows, Ill., which will be used on the F-15 aircraft. Shipments are scheduled to begin in March 2000. Future contracts will require subsystem fabrication, which could exceed $6 million. The AN/ALQ-135 internal countermeasures system is the most advanced integrated defensive system produced for tactical aircraft. The system detects and jams enemy radar signals automatically and is internally installed to maximize aerodynamic performance and maneuverability. The AN/ALQ-135 has protected F-15C's and F-15E's in Operation Desert Storm and the conflict in Bosnia. The updated Band 1.5 version is currently in low rate initial production. "This award is strategically important to sustaining our source leadership," commented Gene L. Joles, president of Signal Technology's Arizona Operation. "Our design and sales team successfully performed an initial development award that culminated in this follow-on contract. We're very proud to be on the Northrop Grumman team." Commented George Lombard, Signal Technology Corp.'s chairman and chief executive officer: "This is an important contract for us, reflecting a positive strategic move from manufacturing single components to packaging components into modules and subsystems."

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