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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Jan 9 9:30 AM EST

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To: Paul Lee who started this subject	11/6/2002 7:07:17 AM
From: Paul Lee	of 191

Signal Technology Awarded Contract for Aegis Power Conversion System DANVERS, Mass.--(BUSINESS WIRE)--Nov. 6, 2002-- Award Is Valued in Excess of $700,000; Future Follow-On Production Contracts Could Exceed $5 Million Signal Technology Corporation (Nasdaq:STCO) today announced the receipt of a follow-on contract for power conversion systems designed for the U.S. Navy's DDG-51 Class Aegis Combat System. The Navy's Arleigh Burke class destroyers are equipped with this electronic warfare system, which integrates the ships' sensors and weapons systems to engage anti-ship missile threats. The award is valued in excess of $700,000. Signal Technology estimates that future follow-on production contracts could exceed $5 million. "This follow-on award underscores our R&D-driven success in designing products that support the Defense Department's emerging and future priorities," said Signal Technology Chairman and Chief Executive Officer George Lombard. "Products such as the Aegis power conversion system have substantially expanded Signal Technology's presence on major platforms related to electronic warfare and intelligence systems, precision-guided weapons and missile defense. In addition, these products reflect our success in executing on our strategy to shift a greater proportion of our new contract bookings toward integrated subsystems, adding significant value to our core technologies." "We continue to strengthen our business by winning contracts for programs that offer significant full-rate production potential," said John Cotumaccio, president and chief operating officer of Signal Technology's Defense Group. "This contract award was based on Signal Technology's ability to supply the defense electronics industry with high-reliability power conversion units that can operate in the most severe environments. Our product footprint within the DDG-51 Aegis Combat System also includes microwave oscillators. These state-of-the art components perform a wide variety of critical signal processing functions as part of the Aegis phased array radar system, and are equally important in a number of other electronic warfare applications."

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