Signal Technology (now STCO)- a classic turnaround Message Board

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

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Mar 7 3:00 PM EST

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To: Paul Lee who started this subject	6/13/2001 8:38:36 AM
From: Paul Lee	of 191

Signal Technology's Keltec Division Awarded $6 Million Program DANVERS, Mass.--(BUSINESS WIRE)--June 13, 2001--Signal Technology Corporation ("Signal") (Nasdaq: STCO), a leading provider of electronics products for wireless communications and power management products in the commercial, defense and space markets, today announced that its Keltec Division in Fort Walton Beach, Florida has been selected by Raytheon Company's (NYSE: RTN) Electronic Warfare Operations to develop state-of-the-art, high-voltage power supplies for Raytheon's next-generation electronic warfare (EW) transmitters. Signal will supply the high-band and low-band power supplies as part of the self-protection suite for Israel's new fighter aircraft (NFA), the F-16I. The award is valued at $6 million and also includes follow-on options over the next three years. "This selection was based on Signal's ability to supply state-of-the-art, high-voltage power supplies at competitive prices, our high-voltage technology base and our ability to learn with our customer to satisfy the end-users' requirements," said Keltec Division President John Cotumaccio. "We are very pleased by the contracts our Keltec Division has won over the past few months," said George Lombard, Signal's chairman and chief executive officer. "This award reinforces our strategic plan to grow in the military power conversion market by supplying high technology solutions for our strategic partners in the defense electronics business."

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