Signal Technology Awarded Contract to Develop Power Supply for F-15 Aircraft; Award Is Valued in Excess of $600,000
DANVERS, Mass.--(BUSINESS WIRE)--Nov. 12, 2002--
Future Follow-on Production Contracts Could Exceed $8 Million
Signal Technology Corporation (Nasdaq:STCO) today announced the receipt of a development contract for a multi-output, extremely high density ruggedized power supply for the F-15 aircraft's radar warning receiver (RWR). The F-15 RWR detects a broad range of incoming radar signals, identifies and characterizes the probable source as a specific friend or threat, and alerts the aircrew. This competitive award is valued in excess of $600,000, with additional production options that could exceed $8 million.
As defined by the funding source, Warner Robins Air Logistics Command, the upgrade program's principal requirement is to improve the reliability, maintainability and supportability of the currently fielded F-15 RWR power supply inventory. The program is also intended to minimize maintenance costs and reduce mission downtime.
"Our selection to participate in the upgrade of the F-15 RWR with this new power conversion system positions us well for extending this product into other airborne electronic warfare applications," said Signal Technology Chairman and Chief Executive Officer George Lombard. "This is just one of many opportunities we are pursuing to increase our participation in the U.S. military's program to modernize and miniaturize the nation's key defense electronics platforms."
John Cotumaccio, president and chief operating officer of Signal Technology's Defense Group said, "Our ability to deliver 'Best Value' -- to meet or exceed stringent technical requirements and maintain a competitive posture -- was a critical element leading to our selection to develop this 20 output, switch mode, ruggedized power supply. Products such as this increase Signal Technology's presence on the F-15 Tactical Electronic Warfare System, and we look forward to supporting the F-15 with additional products in the future. In addition, winning this contract validates our strategy of teaming with the customer to win new and larger programs." |
