news out today:
Thursday May 6, 9:20 am Eastern Time
Company Press Release
TSI TelSys Announces DARPA Contract
Extension by US$1.2 Million
COLUMBIA, Md.--(BUSINESS WIRE)--May 6, 1999--Montreal
Exchange ''TSI'' - TSI TelSys Corporation today announced that the LavaLogic(tm) business unit of its
operating subsidiary, TSI TelSys, Inc. has had its development contract with the Defense Advanced
Research Projects Agency (DARPA) extended by US$1.2 million.
TSI TelSys, Inc.'s initial contract from DARPA, which was announced in a press release on May 13,
1997, was worth US$0.9 million and was for developing high-level design methodologies for
reconfigurable computing systems.
The recent modifications to this contract include an additional US$1.2 million worth of confirmed work,
bringing the new contract value to a total of US$2.1 million, with options that could potentially worth
another US$0.5 million. These options may be exercised at DARPA's discretion after September 30,
1999. As at March 31, 1999, the order backlog from DARPA stood at $1.2 million.
The modifications to the DARPA contract involve the development of Java(tm)-based electronic design
automation (EDA) software that can be used to create efficient hardware description language output and
also the development of optimizations that can utilize the dynamics of reconfigurable computing devices.
TSI TelSys, Inc. retains all commercial rights to the technology developed. The U.S. Government, or its
authorized contractor, retains the right to use the technology for any U.S. Government purpose.
Jay Pisula, TSI TelSys Corporation's President and CEO, said ''We are extremely pleased that we will
continue receiving DARPA support for our leading-edge development of high level design methods. This
single contract should provide sufficient revenue to fund LavaLogic's engineering development for the
next year.''
Except for historical information contained herein, the matters discussed in this press release contain
forward looking statements that, due to uncertainties, may differ materially from actual results.
Headquartered in Columbia, Maryland, TSI TelSys is a leading developer and manufacturer of high
performance, multi-mission satellite data processing systems for ground station operations and satellite
test and integration.
The Company's LavaLogic business unit is aimed at developing and marketing the next generation of high
level electronic design automation (EDA) software for designers of integrated circuits and electronic
systems.
Further information about TSI TelSys, including copies of press releases, may be found through the TSI
TelSys Internet Web site at tsi-telsys.com. TSI TelSys Corporation is listed on the Montreal
Exchange, under the trading symbol ''TSI''.
LavaLogic is a trademark of TSI TelSys, Inc. Java is a trademark of Sun Microsystems Ltd.
Contact:
TSI Telsys
Paul Sevigny, C.F.A./CFO, 410/872-3900
Fax: 410/872-3902
Email: info@tsi-telsys.com
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