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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 ()	4/26/2000 6:54:00 AM
From: Paul Lee	of 191

Signal Technology Wins $3 Million Contract With International Telecommunications Provider; Company's Commercial Wireless Business Continues Rapid Expansion DANVERS, Mass.--(BUSINESS WIRE)--April 26, 2000--Signal Technology Corporation (NASDAQ: STCO) today announced that its Signal Wireless Group has won a $3 million production contract for microwave transceivers which will be manufactured at Signal's Advanced Frequency Products (AFP) operation in support of a major international digital radio manufacturer. This agreement represents the 4th commercial contract award since the recent acquisition of AFP and formation of Signal Wireless Group. The customer will use these state-of-the-art microwave transceivers as part of its broadband wireless network solutions operating in the 18 to 38 GHz bands. These digital radios provide last mile broadband and integrated connectivity services for microwave SONET/SDH. In addition, they provide high-speed digital connection between cell sites, offering a backhaul solution for point-to-multipoint and cellular applications. Dr. James DiLorenzo, president of Signal Technology and the Signal Wireless Group, commented, "We continue to see industry leaders turn to Signal Wireless Group for the millimeter wave and microwave subsystems required for their high-speed wireless communications products. Signal's world-class manufacturing capability is a key factor that enables us to keep pace with the orders we are receiving for the Signal Wireless Group." George Lombard, Signal Technology's chairman and chief executive officer, stated, "This order is further evidence that Signal Wireless Group is quickly becoming a force in the broadband wireless infrastructure market. Signal Wireless Group is rapidly growing its order backlog, which positions us for strong top-line growth in 2000. We will continue to invest aggressively in the research and development as well as sales and marketing programs that will provide Signal Wireless Group with the resources necessary to further build its market presence and capitalize on branding opportunities."

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