William, INVN keeps getting big contracts and no respect.
INVN
Tuesday July 25, 6:02 am Eastern Time
Company Press Release
InVision Technologies Enters Into Three Year Contract With Potential Value of More Than $27 Million to Supply CTX 9000 DSi Explosive Detection Systems to France
NEWARK, Calif.--(BUSINESS WIRE)--July 25, 2000--InVision Technologies, Inc. (Nasdaq:INVN - news) today announced that it has entered into a contract with a potential value of more than $27 million over three years with the French Government's Service Technique des Bases Aeriennes (``STBA'') to supply InVision CTX 9000 DSi(TM) explosive detection systems (EDS). Under this contract the company has received delivery orders for approximately $3.5 million which will be shipped over the third and fourth quarters of 2000.
Sergio Magistri, InVision's President and CEO, said ``This is a very important contract for InVision from a long favored customer. We shipped our first EDS to France in 1996 and, to date, have sold a total of twelve EDS units to France. We believe this order for our newest-generation technology --- the CTX 9000 DSi that has been FAA-certified as the fastest computed tomography-based system in existence --- is recognition of InVision as the industry leader. We believe that this is a testimony to the capabilities of our technology and of our customer service in France since 1996. In addition, we believe that this order signals an increase in EDS activities in Europe as countries prepare to meet the end of 2002 deadline for 100% checked baggage screening.''
Mr. Sanche, General Manager of STBA, said ``The InVision CTX 9000 DSi was chosen after long comparative and competitive tests done at our test center. The CTX 9000 DSi has excellent detection and operational capabilities.''
InVision Technologies develops, manufactures, markets and supports explosive detection systems based on advanced Computed Tomography (CT) technology for civil aviation security. Today, almost 200 FAA-certified CTX systems have been shipped worldwide to provide the traveling public with the best security against terrorism available. The company also develops, manufactures, markets and supports CT-based systems for other applications, including wood scanning and drug detection. InVision's wholly owned subsidiary, Quantum Magnetics, develops and commercializes patented and proprietary technologies. These include, but are not limited to, Quadrupole Resonance (QR) patents licensed from the Naval Research Laboratory, that are based on state-of-the-art, low-cost version of magnetic resonance adapted for explosive detection. InVision's wholly-owned subsidiary, Inovec, develops, manufactures, markets and supports scanning, optimization and control systems for the forest products industry. Today, over 600 systems have been installed in mills worldwide to produce more lumber from each log and to control product quality. Additional information about InVision can be obtained on the company's web site at invision-tech.com.
This news release contains forward-looking statements including statements regarding projected revenues. Investors are cautioned to consider the important risk factors that could cause actual results to differ materially from those in the forward-looking statements in this news release. These statements involve risks and uncertainties, including risks inherent to doing business with public agencies, such as the risk that no additional delivery orders for CTX systems may be forthcoming from STBA under this contract due to limited funding or a decision by STBA otherwise not to exercise its option to purchase all units; risks inherent in manufacturing and delivering products on time; and other risks detailed from time to time in the company's SEC reports, including the most recent reports on Forms 10-Q and 10-K.
CTX 9000 DSi is a trademark of InVision Technologies, Inc.
--------------------------------------------------------------------------------
Contact:
InVision Technologies, Inc.
Al Larrenaga, 510/739-2400 |
