Signal Technology Receives Electronic Countermeasures Contract; Initial Production Award is Valued at $600,000
DANVERS, Mass.--(BUSINESS WIRE)--Feb. 26, 2003--Signal Technology Corporation (Nasdaq:STCO), a provider of electronic components, subsystems and system solutions for defense and space applications, today announced the award of a contract to provide multi-output power supplies for the Large Aircraft Infrared Countermeasures (LAIRCM) system. The LAIRCM system is deployed on C-17 Globemaster and C-130 Hercules military transport aircraft to defend against enemy surface-to-air missiles. The low rate initial production contract, awarded by Northrop Grumman Corporation, is valued at $600,000.
"Given the large inventory of currently fielded C-130 and C-17 aircraft, as well as the number of C-17s scheduled to be delivered by 2005, this program represents a solid long-term revenue stream for Signal Technology," said John Cotumaccio, president and chief operating officer. "In addition, considering the potential vulnerability of other large aircraft, we believe that requirements for LAIRCM systems will increase." |
