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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	12/4/2002 8:40:44 AM
From: Paul Lee	of 191

Signal Technology Awarded Contract to Develop Switch Matrices for U.S. Air Force Rivet Joint Aircraft; Award Is Valued in Excess of $2 Million DANVERS, Mass.--(BUSINESS WIRE)--Dec. 4, 2002--Signal Technology Corporation (Nasdaq:STCO) today announced the receipt of a contract from Sierra Nevada Corporation, Sparks, Nevada, to produce switch matrices for the U.S. Air Force RC-135 Rivet Joint aircraft. The award is valued in excess of $2 million. Signal Technology's switch matrix subsystems are key to performing the mission-critical and highly complex task of managing the distribution of multiple voice and data transmissions on a real-time basis. The Rivet Joint is a reconnaissance aircraft that provides the Air Force with on-scene intelligence collection, analysis and dissemination capabilities at both the theater and national levels. "Our strategy is to emphasize higher value-added products as we exploit the natural synergies between our core electronic component business and our Systems Group's expertise in complex assemblies," said Signal Technology Chairman and Chief Executive Officer George Lombard. "The Company's success in winning this switch matrix award is a result of this strategy, and we look forward to meeting customer requirements for even more complex switch matrix designs in the future." President and Chief Operating Officer, John Cotumaccio, said, "This contract award represents another step forward in our drive to create a strong presence for Signal Technology on the Defense Department's newest and most critical intelligence, surveillance and reconnaissance (ISR) platforms. Together with our recent contract wins in the emerging Homeland Security and Defense market, our selection to provide switch matrices for the Rivet Joint aircraft reinforces our position at a higher point in the ISR value chain, and demonstrates our customers' confidence in Signal Technology's engineering and manufacturing capabilities."

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