TeleCommunication Systems Receives $9.3 Million World-Wide Satellite Systems Order From U.S. Army
October 08 2010 - 7:30AM
Marketwired
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world
leader in highly reliable and secure mobile communication
technology, today announced that it has been awarded a new order
with a ceiling value of $9.3 million to provide satellite terminal
spare parts to the U.S. Army. The order is initially funded at $5.3
million and will be funded up to a total of $9.3 million if the
options are fully exercised through August 2011. This award was
made under the Army's $5 billion World-Wide Satellite Systems
(WWSS) Indefinite Delivery Indefinite Quantity (IDIQ) contract
vehicle in support of the Project Manager for the Warfighter
Information Network-Tactical (PM WIN-T). Under the WWSS procurement
vehicle, customers may place orders through August 2011 for
delivery up to a year thereafter.
"Continuing to deliver reliable and secure communications
equipment to the U.S. Army is a top priority for TCS. We know that
every system that we deliver is an integral part of the programs
that support the success of each mission," said Michael Bristol,
senior vice president and general manager of government solutions
for TCS.
TCS has established a proven track record for more than two
decades as a trusted provider of communication technology solutions
to solve the government's toughest technical challenges, under
conditions that demand the highest level of reliability,
availability and security. To ensure mission continuity, TCS offers
a family of deployable communications solutions, SwiftLink®, and
complete end-to-end managed services for converged (IP-based)
voice, video and data solutions to organizations requiring
seamless, highly secure connectivity between fixed sites and remote
operations.
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) is a world
leader in highly reliable and secure mobile communication
technology. TCS infrastructure forms the foundation for market
leading solutions in E9-1-1, text messaging, commercial location
and deployable wireless communications. TCS is at the forefront of
new mobile cloud computing services providing wireless applications
for navigation, hyper-local search, asset tracking, social
applications and telematics. Millions of consumers around the world
use TCS wireless apps as a fundamental part of their daily lives.
Government agencies utilize TCS' cyber security expertise and
professional services. Headquartered in Annapolis, MD, TCS
maintains technical, service and sales offices around the world. To
learn more about emerging and innovative wireless technologies,
visit www.telecomsys.com.
Except for the historical information contained herein, this
news release contains forward-looking statements as defined within
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities and Exchange Act of 1934, as amended. These
statements are subject to risks and uncertainties and are based
upon TCS' current expectations and assumptions that if incorrect
would cause actual results to differ materially from those
anticipated. Risks include without limitation the possibility that
the contract options will not be exercised, or that the total value
of the order will not be fully funded, and those detailed from time
to time in the Company's SEC reports, including the reports on Form
10-K for the year ended December 31, 2009, and on Form 10-Q for the
quarter ended June 30, 2010.
Existing and prospective investors are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. The Company undertakes no obligation to
update or revise the information in this press release, whether as
a result of new information, future events or circumstances, or
otherwise.
Company Contact: TeleCommunication Systems, Inc. Meredith
Allen 410-295-1865 Email Contact Media Contact: Welz &
Weisel Communications Evan Weisel 703-218-3555 Email Contact
Investor Relations: Liolios Group, Inc. Scott Liolios
949-574-3860 Email Contact
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