looks like things are begining to move forward.I'm long and will remain long until their full potential is realized.IMO we haven't even scratched the surface
biz.yahoo.com
Friday May 10, 9:00 am Eastern Time
Press Release
SOURCE: Essex Corporation
Essex Awarded Five-Year $25M Contract to Support U.S. DoD Radar Programs
First Task Is for $2.4 Million to Design a Next Generation Optoelectronic Radar Signal Processor for Missile Defense Systems
COLUMBIA, Md., May 10 /PRNewswire-FirstCall/ -- Essex Corporation (OTC Bulletin Board: ESEX - News), a developer of optoelectronic processors and technologies for signal processing applications, today announced that the U.S. Department of Defense (DoD), Naval Air Warfare Center, has awarded the Company a five-year IDIQ (indefinite delivery, indefinite quantity) contract with a potential value of $25 million. This contract was competitively procured and continues research started under the Small Business Innovative Research (SBIR) Program. The Company also received a fully funded $2.4 million task under the contract to design a next generation Advanced Optical Processor (AOP) demonstration unit during the next 12 months for the U.S. Missile Defense Agency.
Under this IDIQ contract, Essex will use their unique signal processing technologies to enhance DoD radar programs. During the past decade or more, the Company has built a family of proprietary assets to solve the signal processing challenges confronted by today's radar and telecommunication systems (optical, DSL and wireless). These assets include: proprietary optoelectronic processors, such as AOP and ImSyn(TM); optical devices such as hyperfine WDM; specialized image processing algorithms; and a specialized team of engineers.
The AOP is an ultra-wide bandwidth optoelectronic processor that enables increased radar resolution and threat assessment. The system has several advantages compared to all-digital solutions including: elimination of wideband analog-to-digital (A/D) converters and significant computational software. Previously, Essex demonstrated a 250-MHz AOP with excellent dynamic range and throughput when compared to all-digital processing architectures. The goal of this task is development of a 1 to 2-GHz AOP with an open architecture applicable to many types of radar systems.
Furthering the strategy of adding "smart revenue," Essex has been awarded DoD contracts totaling $4.3 million during the past several weeks, including this $2.4 million task order. Leonard Moodispaw, Essex CEO, said, "We are gratified and proud that our government is interested in Essex technology at this time of heightened national security because our heritage optical and signal processing technologies handle computationally-intensive problems often unsolvable by conventional all-digital systems. This Phase III SBIR IDIQ contract is intended to transition prototypes from the lab to the field. We anticipate that successful completion of this AOP demonstration task may lead to orders in quantity for the processor."
About Essex: Founded in 1969 with headquarters in Columbia, MD, Essex is an experienced and respected optical and communications engineering company that designs and builds creative solutions to complex problems for commercial telecommunications and national defense organizations. For more information contact Essex Corporation, 9150 Guilford Road, Columbia MD 21046; Phone 301.939.7000; Fax 301.953.7880; E-mail info@essexcorp.com, or on the Web at essexcorp.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company's actual results could differ materially from those discussed in or implied by such forward-looking statements. Factors that might cause such differences include but are not limited to the ability of Essex Corporation to raise necessary development funds, enter into strategic relationships with key industry participants, develop and build optoelectronics devices and protect and defend its intellectual property, and changes in technology, technical obsolescence, changes in customer needs, new product developments, competitive factors in the industry and uncertainty of market acceptance.
Contact: Leonard Moodispaw, President & CEO of Essex Corporation, +1-301-939-7000; or Michael Henderson, Investor Relations, CEOcast, Inc. for Essex Corporation, +1-212-732-4300.
SOURCE: Essex Corporation |
