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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	6/4/2002 7:20:41 AM
From: Paul Lee	of 191

Signal Technology Corporation Awarded Multi-Year Production Contracts Valued At $5 Million; Company's Microwave Products Selected for Standard Missile Block III Program DANVERS, Mass.--(BUSINESS WIRE)--June 4, 2002--Signal Technology Corporation (Nasdaq:STCO) today announced that a major U.S. defense prime contractor has awarded the Company multiple contracts for microwave components and subsystems designed for the Standard Missile Block III Program. Deliveries are expected to extend into 2004, and the contract is valued at more than $5 million. Signal Technology anticipates that follow-on contracts, with a potential value of more than $5 million, will continue through 2010. "Our vigilance and focused support of domestic and international defense electronics markets and our product development investments, coupled with our focus on building close relationships with our customers, continue to generate a number of defense contract wins for Signal Technology," said George Lombard, chairman and chief executive officer. "We expect to see further acceleration in the demand for our microwave components and subsystems in line with the U.S. Defense Department's ongoing effort to modernize, mobilize and miniaturize existing missile, aircraft and electronic intelligence platforms on which Signal Technology has a legacy of participation." Under the contracts announced today, Signal Technology will be supplying microwave components and subsystems for the MK45 Target Detection Device fitted to the Standard Missile as part of the platform's highly sophisticated guidance system. The Standard Missile is a modular surface-to-air missile for medium and extended-range engagements. It is deployed on a variety of U.S. Navy cruisers, destroyers and frigates, and by several foreign allied navies.

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