TeleCommunication Systems Receives $60.8 Million World-Wide Satellite Systems Order From U.S. Army
July 14 2011 - 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 $60.8 million to provide Tactical SHF
Satellite Terminals (TSST) to the U.S. Army. The order is initially
funded at $53.1 million and will be funded up to a total of $60.8
million if the options are fully exercised. 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 Program Manager for the Warfighter Information
Network-Tactical (PM WIN-T). Delivery of the terminals is expected
in the second and third quarters of 2012.
"Today's warfighter often depends upon secure, rugged and
rapidly deployable systems to achieve their missions," said Michael
Bristol, senior vice president and general manager of government
solutions for TCS. "TCS is fully committed to providing the highly
reliable, world-wide communications technology needed to support
our troops."
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
the SwiftLink® family of deployable communications solutions 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. For more information, visit:
http://www.telecomsys.com/markets/government/default.aspx
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,
professional services, and highly secure deployable satellite
solutions for mission-critical communications. 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 that the order might
not be fully funded and options could go unexercised, 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, 2010 and
10-Q for the quarter ended March 31, 2011.
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
Telecommunication Systems (NASDAQ:TSYS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Telecommunication Systems (NASDAQ:TSYS)
Historical Stock Chart
From Jul 2023 to Jul 2024