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	8/20/2002 7:15:29 AM
From: Paul Lee	of 191

Signal Technology Awarded $2.5 Million Military Aircraft Electronics Contract DANVERS, Mass.--(BUSINESS WIRE)--Aug. 20, 2002-- Company's Defense Group to Extend Production of Converters for F-16 Fighter Aircraft Electronic Warfare System Signal Technology Corporation (Nasdaq:STCO) today announced a continued production agreement with one of the world's largest defense prime contractors for APX-113 (V) system converters designed for F-16 fighter aircraft. The contract is valued at more than $2.5 million. Deliveries are scheduled to begin in early 2003, options for production extend through 2004, and the Company anticipates further follow-on potential of greater than $2.5 million. To date, Signal Technology's Arizona Division has produced more than 700 of these converter systems. "This award reaffirms our commitment to strengthening Signal Technology's core defense business by providing superior product solutions, exceptional customer service and superior full-rate production performance," said John Cotumaccio, president and chief operating officer of Signal Technology's Defense Group. "Our successful track record, positive customer relationships and competitive pricing structure continue to enable the Company to secure important follow-on orders." The APX-113 (V) is an IFF/SIF transponder typically deployed in F-16 & F/A-18 aircraft where limited space demands a single system that combines both interrogator and transponder capabilities. This equipment is critical to the air-to-air mission because it allows pilots to make positive identification of aircraft beyond visual range, enabling them to confidently engage only hostile aircraft. More than 1300 APX-113 (V) transponders have already been produced, and the program is expected to remain in production through 2011

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