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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	5/16/2002 7:10:20 AM
From: Paul Lee	of 191

the start of the next turnaround Signal Technology Awarded Homeland Security Electronics ContractsCompany Receives Two Contracts Totaling $500,000 for Production of Switch Matrix Products for Homeland Security Wireless Communications BUSINESS WIRE - May 16, 2002 07:02 DANVERS, Mass., May 16, 2002 (BUSINESS WIRE) -- Signal Technology Corporation (Nasdaq: STCO) today announced the receipt of two contract awards for the production of highly sophisticated electronics designed for the federal government's emerging Homeland Security initiative. Signal Technology's UHF/VHF and video antenna switch matrix products were selected to provide multi-path signal frequency steering by a contractor developing wireless communications platforms for Homeland Security applications. These highly sophisticated switching capabilities will be deployed in electronic information gathering to route radio transmissions to a variety of signal processing receivers for analysis and interpretation. The two contracts are valued at a total of $500,000, and Signal Technology believes the orders have significant follow-on potential. Production will take place at the Company's Massachusetts-based Olektron Operation. "This award underscores the progress that the Signal Technology team has been making in positioning the Company for a key role in the nation's emerging Homeland Security initiative," said Chairman and Chief Executive Officer George Lombard. "We have a 20-year record of supplying the U.S. defense industry with highly sophisticated signal switching, control and management systems for electronic intelligence, electronic warfare and secure communications. These products have earned Signal Technology a reputation for delivering state-of-the-art performance and long service life under the most extreme environmental conditions imaginable. This is exactly the mix of capabilities required for certain Homeland Security electronics applications. We anticipate seeing these capabilities translate into other new opportunities for Signal Technology as the Homeland Security initiative takes shape."

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