/CORRECTION -- Applied Energetics, Inc./
TUCSON, Ariz., July 29, 2009 /PRNewswire-FirstCall via COMTEX/ -- In the news release, Applied Energetics Receives Contract for Delivery of Laser to U.S. Navy, issued 29-Jul-2009 by Applied Energetics, Inc. over PR Newswire, we are advised by the company that the first paragraph, first sentence, should read "Applied Energetics, Inc., (Nasdaq: AERG), today announced it has received a $992,000, contract for the design, development and delivery of an Ultra-Short Pulse (USP) laser system to the U.S. Navy as a result of an award issued through the Office of Secretary of Defense Quick Reaction Fund Program." The complete, corrected release follows:
Applied Energetics Receives Contract for Delivery of Laser to U.S. Navy
Applied Energetics, Inc., (Nasdaq: AERG), today announced it has received a $992,000, contract for the design, development and delivery of an Ultra-Short Pulse (USP) laser system to the U.S. Navy as a result of an award issued through the Office of Secretary of Defense Quick Reaction Fund Program. The Company will produce a demonstration system specifically designed to explore USP laser effects and determine requirements for deployment of USP lasers on U.S. Navy and U.S. Marine Corps aircraft. The system is expected to be delivered to Naval Surface Warfare Center, Crane, Indiana in twelve months.
Joe Hayden, Chief Operating Officer of Applied Energetics, commenting on the contract award said, "Applied Energetics is pleased to continue our work with NSWC Crane on advancing military applications for USP lasers. We continuously search for opportunities to leverage the technologies developed for LGE as part of our core strategy and we believe this new program is evidence of the potential these lasers will have in military applications. We have been successful in doing this with our High Voltage technologies for counter-IED applications, and now we are beginning to see similar opportunities for laser technologies."
The USP laser system will be developed and tested at Applied Energetics' facility in Tucson, AZ under a subcontract for SAIC's engineering services contract with NSWC Crane, and then delivered to the Navy.
About Applied Energetics, Inc.
Applied Energetics, Inc., based in Tucson, Arizona, specializes in development and manufacture of advanced high performance lasers, high voltage electronics, advanced optical systems, and integrated guided energy systems for defense, aerospace, industrial, and scientific customers worldwide. Applied Energetics pioneered the development of Laser Guided Energy(TM) (LGE(TM)) technology, and related solutions for defense and security applications. For more information about Applied Energetics, please visit appliedenergetics.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
Certain statements contained in this News Release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Such factors include, but are not limited to: the dependence on sales of a limited number of products and the uncertainty of the timing and magnitude of government funding and orders, dependence on sales to government customers; the uncertainty of patent protection; the uncertainty of strategic alliances; the uncertainty of management tenure; the impact of third-party suppliers' manufacturing constraints or difficulties; management's ability to achieve business performance objectives, market acceptance of, and demand for, the Company's products, and resulting revenues; development and testing of technology and products; manufacturing capabilities; impact of competitive products and pricing; litigation and other risks detailed in the Company's filings with the Securities and Exchange Commission. The words "looking forward," "believe," "demonstrate," "intend," "expect," "contemplate," "estimate," "anticipate," "likely" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Advanced Energetics undertakes no obligation to update any forward-looking statements contained in this news release.
SOURCE Applied Energetics, Inc.
URL: appliedenergetics.com
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