I know, it's a tine bomb waiting to go off.
Chris<g>
For the first nine months of the current fiscal year sales totaled more than $5,500,000 already exceeding the total for all of the prior fiscal year.
Shipments of the AN/APM-480 IFF (Identification, Friend or Foe) Transponder Set Test Sets (TSTS) continue without any significant problems and the unit has been favorably received by the customer. The Company has now received orders from the U.S. Navy for a total of 960 units, with a value totaling over $12,500,000 to be delivered over the next three to four years. The AN/APM 480 is a militarized avionics ramp tester used to simulate IFF Transponder/Interrogator and TCAS (Traffic Alert and Collision Avoidance System) functions to provide accurate go, no-go testing of avionics test equipment installed in military aircraft on the flightline and aircraft carrier deck.
During the second quarter of the current fiscal year, the Company began shipment to a major freight carrier (through a domestic distributor) of T-30D ILS (Instrument Landing System) and T-49C (TCAS) commercial test sets. The total order exceeds $900,000, and the Company expects to ship the majority of this order in the current fiscal year. In addition, during the current fiscal year the Company shipped all of the T-76 DME/P (Precision Distance Measuring Equipment) ramp test sets under the contract, totaling approximately $400,000, with Marconi Communications through our Italian intermediary, M.P.G. Instruments s.r.l. DME/P is directed solely to the European market. The Company continues its efforts to complete the DME/P bench test sets under a contract with Marconi Communications in the amount of $680,000.
The Company continues to actively pursue opportunities in both the commercial and government markets, both domestically and internationally, and new product development efforts based upon its evaluation of these markets. The Company is also exploring opportunities in other government and commercial markets in order to broaden the Company's product base. The Company's backlog at December 31, 2000 exceeds $14,500,000. This backlog is deliverable over the next three to four years. |
