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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	7/8/2002 7:12:25 AM
From: Paul Lee	of 191

Home Run !!!!! Signal Technology Teams With Northrop Grumman; Company's Defense Group Named Sole-Source Supplier of Transmitters for U.S. Air Force Electronic Countermeasures System DANVERS, Mass.--(BUSINESS WIRE)--July 8, 2002--Signal Technology Corporation (Nasdaq:STCO) today announced that its Defense Group has been selected by Northrop Grumman Systems Corporation as sole-source supplier of the next generation of Band 4 and 5 transmitters for the AN/ALQ-131 aircraft electronic countermeasures (ECM) system. The first production release is valued at more than $9 million. Follow-on production is valued at $80 million to $120 million over the next 10 years. Production will take place at the Company's Florida-based Keltec Division. "The size and long-term nature of this agreement create a major revenue opportunity for the Company and position us to gain a substantial share of the market for radar warning receiver/ECM transmitters and power supplies over the next decade," said Signal Technology Chairman and Chief Executive Officer George Lombard. "Our ability to combine customer focus with superb technology and proven manufacturing skills continues to translate into new contract awards for Signal Technology's defense business." "Our selection as developer of the next generation of Band 4 and 5 transmitters for this critical ECM system proves once again that working collaboratively with customers is the most effective way to design products that meet rigorous defense industry requirements," said John Cotumaccio, president and chief operating officer of Signal Technology's Defense Group. "By teaming with their counterparts at Northrop Grumman, Signal Technology's engineers were able to develop low-cost, low-risk design concepts that contribute to a military force that is better prepared to meet the electronic threats and harsh environmental conditions encountered by today's pilots and aircraft." The AN/ALQ-131 jamming pod, manufactured by Northrop Grumman, protects military aircraft by altering the flight path of the enemy's incoming radar-directed weapons. One of the most extensively deployed ECM systems ever built, the AN/ALQ-131 is certified on numerous U.S. Air Force fighter and transport aircraft platforms, as well as those of several allied nations.

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