Lockheed Martin Upgrade to Extend Life of Kuwait Radar
SYRACUSE, N.Y., April 6, 2009 -- Lockheed Martin (NYSE: LMT) has been awarded a contract by the Kuwait Ministry of Defense to significantly upgrade the Kuwait Air Force AN/FPS-117 long-range radar originally delivered in 1993. The radar is used for air traffic control and strategic air surveillance. The upgrades will extend the service life of the radar for 15 to 20 years.
The contract also provides for maintenance services and training for both the existing radar as well as the Preliminary Early Warning System (PEWS), which combines multiple sensors to assist with air surveillance in the region.
When the upgrade is complete, the electronics that provide the radar's signal processing and data processing capability will be replaced with modernized electronics that fit in one cabinet. As a result, the radar will have the same capabilities and reliability as a new AN/FPS-117. The work, which will take place at Lockheed Martin's facility in Syracuse, NY, also includes an upgrade of the secondary surveillance radar that enhances the system's tracking capability.
"There will be a fourfold reduction in components in this upgraded radar," said Frank Mekker, Jr., Lockheed Martin program manager, "and that will result in improved reliability and maintainability, as well as reduced life-cycle support costs."
Kuwait is one of several customers for whom Lockheed Martin has extended the service life of existing radars. The United Kingdom contracted with the company for similar upgrades for two of its long-range radars, and in 2006, Lockheed Martin completed upgrades for eight AN/FPS-117 radars for the German Air Force. Similar upgrades have been completed on five Romanian radars.
The AN/FPS-117 is the world's most successful three-dimensional radar. This L-band radar provides continuous high-quality surveillance of air targets. There are 127 AN/FPS-117 systems operational in 14 countries. Many have operated for years in remote areas, completely unmanned and in a wide range of operational environments.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.
For additional information, visit our website: http://www.lockheedmartin.com/
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Monday, April 6, 2009
Defense Stocks Sector Close-Up, LOCKHEED MARTIN CP (NYSE: LMT) up $4.23 (6.28%)
Defense Stocks Sector Close-Up, LOCKHEED MARTIN CP (NYSE: LMT) up $4.23 (6.28%)
U.S. Defense Department Announces Changes in Military Spending
POINT ROBERTS, Wash., DELTA, B.C. –April 6, 2009 – www.HomelandDefenseStocks.com, a leading global investor and industry portal for the defense and security sector, within Investorideas.com, presents a sector close-up on leading defense stocks following Defense Secretary Robert Gates announcing changes in military spending to "profoundly reform how this department does business."
Defense stocks trading as of April 6, 2009:
L-3 Communications (NYSE: LLL ) was trading at $70.02, with gains of $1.29 (1.88%) 2:35pm ET
Lockheed Martin Corporation (NYSE:LMT) was up $4.23 (6.28%) 2:27pm ET
Northrop Grumman Corporation (NYSE:NOC) was trading at 46.40, up $2.42 (5.50%) 2:34pm ET
Raytheon Company (NYSE: RTN ) was trading at $40.43, up $1.96 (5.09%) 2:32pm ET
To research more defense (defence) stocks:
Homeland Security and Defense Stocks Directory:
http://www.investorideas.com/Companies/HomelandDefense/Stock_List.asp
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Spade Defense Index- Interviews and Transcripts:
The SPADE Defense Index® (AMEX: DXS) is a modified capitalization-weighted index comprised of publicly traded companies that benchmarks the performance of companies involved with the defense, homeland security, and space marketplace. http://www.investorideas.com/Content_Partners/SI/Default.asp
About Homelanddefensestocks.com- HomelandDefenseStocks.com Portal is a global meeting place for investors and industry following defense and security, within Investorideas.com. Global visitors use the site daily to research the latest news, articles, audio, research reports and stock directories.
Affiliated Homeland Security/Defense Website –
The National Homeland Security Knowledgebase (NHSK) - Securing a Better World
(NHSK) is a leading Non-Government Website for search phrase "Homeland Security" featuring a comprehensive collection of links and resources and news in Homeland Security, Defense and global security issues.
About InvestorIdeas.com:
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Investorideas.com Membership – Defense stocks directory access and investor research tool
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Our sites do not make recommendations, but offer information portals to investors to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of any information presented. All information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is compensated by featured companies, news submissions and online advertising.
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@HomelandDefenseStocks.com
Source: HomelandDefenseStocks.com, Investor Ideas
U.S. Defense Department Announces Changes in Military Spending
POINT ROBERTS, Wash., DELTA, B.C. –April 6, 2009 – www.HomelandDefenseStocks.com, a leading global investor and industry portal for the defense and security sector, within Investorideas.com, presents a sector close-up on leading defense stocks following Defense Secretary Robert Gates announcing changes in military spending to "profoundly reform how this department does business."
Defense stocks trading as of April 6, 2009:
L-3 Communications (NYSE: LLL ) was trading at $70.02, with gains of $1.29 (1.88%) 2:35pm ET
Lockheed Martin Corporation (NYSE:LMT) was up $4.23 (6.28%) 2:27pm ET
Northrop Grumman Corporation (NYSE:NOC) was trading at 46.40, up $2.42 (5.50%) 2:34pm ET
Raytheon Company (NYSE: RTN ) was trading at $40.43, up $1.96 (5.09%) 2:32pm ET
To research more defense (defence) stocks:
Homeland Security and Defense Stocks Directory:
http://www.investorideas.com/Companies/HomelandDefense/Stock_List.asp
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Spade Defense Index- Interviews and Transcripts:
The SPADE Defense Index® (AMEX: DXS) is a modified capitalization-weighted index comprised of publicly traded companies that benchmarks the performance of companies involved with the defense, homeland security, and space marketplace. http://www.investorideas.com/Content_Partners/SI/Default.asp
About Homelanddefensestocks.com- HomelandDefenseStocks.com Portal is a global meeting place for investors and industry following defense and security, within Investorideas.com. Global visitors use the site daily to research the latest news, articles, audio, research reports and stock directories.
Affiliated Homeland Security/Defense Website –
The National Homeland Security Knowledgebase (NHSK) - Securing a Better World
(NHSK) is a leading Non-Government Website for search phrase "Homeland Security" featuring a comprehensive collection of links and resources and news in Homeland Security, Defense and global security issues.
About InvestorIdeas.com:
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, the Middle East and Australia.
Investorideas.com Membership – Defense stocks directory access and investor research tool
With markets and investor sentiment changing daily- it is more important than ever to stay on top of key trends! Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and Investor Ideas Members only Restricted Content including the complete renewable energy stocks directory, water stocks, biotech and defense stocks directory, as well as the Insiders Corner by Michael Brush.
Become an InvestorIdeas.com -Learn more: http://www.investorideas.com/membership/
InvestorIdeas.com Disclaimer: www.InvestorIdeas.com/About/Disclaimer.asp
Our sites do not make recommendations, but offer information portals to investors to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of any information presented. All information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is compensated by featured companies, news submissions and online advertising.
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@HomelandDefenseStocks.com
Source: HomelandDefenseStocks.com, Investor Ideas
Air Force Selects Raytheon to Improve Mission Coordination Under Electronic Warfare Battle Management Contract
Air Force Selects Raytheon to Improve Mission Coordination Under Electronic Warfare Battle Management Contract
MARLBOROUGH, Mass., April 6, 2009 -- The U.S. Air Force awarded Raytheon Company (NYSE: RTN ) a $3.5 million Electronic Warfare Battle Management (EWBM) system design contract.
Under the award from the Air Force Research Laboratory, Raytheon will spend three years conducting a series of EWBM system experiments and demonstrations in the Air Force Research Laboratory's virtual combat laboratory at Wright Patterson Air Force Base, Ohio. Through these experiments, the Air Force will be able to apply EWBM to a variety of scenarios to determine the best use of electronic warfare assets on the battlefield.
Electronic warfare is the use of electronic attack, support and protection during military operations. Battle management focuses on the command and control of forces in the battle area. In joining these two solutions, commanders and warfighters will dramatically improve mission coordination and significantly enhance the common operating picture of the battlefield.
"This EWBM award provides a roadmap on how to best control and synchronize all available electronic warfare resources," said Jerry Powlen, vice president, Integrated Communications Systems. "Raytheon's solutions in electronic warfare and command and control will dramatically change the way we arm our warfighters to engage in combat."
Raytheon will work with Sierra Nevada Corporation, AEA Technology, Inc. and Bonn Corporation to provide this solution.
Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.
Contact: MB Hodgkiss 508.490.2607 mb@raytheon.com
MARLBOROUGH, Mass., April 6, 2009 -- The U.S. Air Force awarded Raytheon Company (NYSE: RTN ) a $3.5 million Electronic Warfare Battle Management (EWBM) system design contract.
Under the award from the Air Force Research Laboratory, Raytheon will spend three years conducting a series of EWBM system experiments and demonstrations in the Air Force Research Laboratory's virtual combat laboratory at Wright Patterson Air Force Base, Ohio. Through these experiments, the Air Force will be able to apply EWBM to a variety of scenarios to determine the best use of electronic warfare assets on the battlefield.
Electronic warfare is the use of electronic attack, support and protection during military operations. Battle management focuses on the command and control of forces in the battle area. In joining these two solutions, commanders and warfighters will dramatically improve mission coordination and significantly enhance the common operating picture of the battlefield.
"This EWBM award provides a roadmap on how to best control and synchronize all available electronic warfare resources," said Jerry Powlen, vice president, Integrated Communications Systems. "Raytheon's solutions in electronic warfare and command and control will dramatically change the way we arm our warfighters to engage in combat."
Raytheon will work with Sierra Nevada Corporation, AEA Technology, Inc. and Bonn Corporation to provide this solution.
Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.
Contact: MB Hodgkiss 508.490.2607 mb@raytheon.com
Wednesday, April 1, 2009
AeroVironment's Raven Small Unmanned Aircraft System Achieves 30-Hour Persistent Surveillance in Demonstration with U.S. Army
AeroVironment's Raven Small Unmanned Aircraft System Achieves 30-Hour Persistent Surveillance in Demonstration with U.S. Army
Lower-Cost Alternative to Limited, High Demand, Higher Echelon Reconnaissance UAS
MONROVIA, Calif.--April 1 2009 --The U.S. Army Product Manager for Small Unmanned Aircraft Systems (SUAS) and AeroVironment, Inc. (AV) (NASDAQ: AVAV) recently conducted a continuous 30-hour demonstration of persistent surveillance of a point target using AV’s RQ-11B Raven® small unmanned aircraft system. The demonstration at Camp Roberts, Calif. followed an inquiry from Pentagon officials regarding the potential for AV’s Raven small UAS to perform low-cost, tactically relevant persistent surveillance.
The continuous 30-hour duration represents a prolonged tactical level surveillance mission similar to what would typically be performed at the battalion or lower level. Using one standard production Raven baseline system, which consists of three aircraft and two ground control stations, the demonstration provided continuous surveillance using only two-person crews operating in eight-hour shifts. Employing the autonomous guidance capability incorporated into the Raven small UAS, operators rotated the aircraft over a surveyed point target, a residential building on the base, maintaining unbroken surveillance throughout the demonstration, and reported activity at the target site. In addition to recording the imagery, the demonstration team streamed a live video feed from the operation via webcast throughout the event.
According to Dean Barten, product director for Army SUAS, “This demonstration indicates that the Raven small UAS is capable of performing tasks normally assigned to limited, high demand, and higher echelon reconnaissance assets in a highly cost-effective manner. The Raven small UAS was employed and performed as it does everyday in combat operations - reliably, without fanfare, in support of the soldiers in the fight.”
Barten said that in a testament to the Raven system’s reliability, over the course of the 30-hour demonstration, 27 sorties were flown with no system failures or mission aborts. The system operated flawlessly, despite the presence of high winds, air turbulence and rain, all while operating out of an unimproved area.
“Soldiers have in their rucksacks an immediately accessible, long-term surveillance unmanned aircraft system to give them extended bird’s eye views of a target so they don’t have to wait for larger unmanned aircraft systems that are in high demand,” said John Grabowsky, executive vice president and general manager of AV’s UAS segment. “The battle-proven Raven system could also support many important non-military applications for extended intelligence, surveillance and reconnaissance, such as border control, law enforcement, and communications and reconnaissance following a major storm.”
In order to maintain continuous surveillance, the Raven system operators rotated the aircraft over the target: one aircraft operating on an alternate control channel would relieve the orbiting aircraft prior to the latter’s rotation back to the launch/ recovery site. The Raven system’s daytime color electro-optical camera and nighttime infrared camera payloads were employed to ensure continuous situational awareness. The Raven system’s operations were conducted in varying weather conditions, including rain and temperatures ranging from low 70’s to mid 40’s (Fahrenheit).
The Raven systems used by the Army include three air vehicles, day and night sensors, two ground control stations, a laptop computer with mission planning and recording software and accompanying spares and a battery charger. The 4.2-pound Raven aircraft is powered by lithium-ion batteries.
In addition to its Raven system, AV’s small UAS product family includes Puma AE™ and Wasp™, which are also hand-launched and controlled by AV’s hand-held ground control station.
Each aircraft in AV’s family of small UAS is interoperable and tailored to address a variety of operational user needs. AV’s UAS logistics operation supports systems deployed worldwide to ensure a consistently high level of operational readiness. AV has delivered thousands of small unmanned aircraft to date. International purchasers of Raven systems include Italy, Denmark, the Netherlands and Spain.
About AeroVironment, Inc. (AV)
Building on a history of technological innovation, AV designs, develops, produces, and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) and efficient electric energy systems. Agencies of the U.S. Department of Defense and allied military services use the company’s hand-launched UAS to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance, and target acquisition. Commercial and government entities use AV’s clean transportation solutions such as electric vehicle test systems and electric vehicle fast charge systems, as well as its clean energy solutions. More information about AV is available at www.avinc.com.
Safe Harbor Statement
Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Additional AV News: http://www.avinc.com/News.asp AV Media Gallery: http://www.avinc.com/media_gallery.asp
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5930876&lang=en
Contacts AeroVironment, Inc.Steven Gitlin+1 626-357-9983pr@avinc.comorFor AeroVironment, Inc.Mark Boyer+1 310-229-5956mark@boyersyn.com
Lower-Cost Alternative to Limited, High Demand, Higher Echelon Reconnaissance UAS
MONROVIA, Calif.--April 1 2009 --The U.S. Army Product Manager for Small Unmanned Aircraft Systems (SUAS) and AeroVironment, Inc. (AV) (NASDAQ: AVAV) recently conducted a continuous 30-hour demonstration of persistent surveillance of a point target using AV’s RQ-11B Raven® small unmanned aircraft system. The demonstration at Camp Roberts, Calif. followed an inquiry from Pentagon officials regarding the potential for AV’s Raven small UAS to perform low-cost, tactically relevant persistent surveillance.
The continuous 30-hour duration represents a prolonged tactical level surveillance mission similar to what would typically be performed at the battalion or lower level. Using one standard production Raven baseline system, which consists of three aircraft and two ground control stations, the demonstration provided continuous surveillance using only two-person crews operating in eight-hour shifts. Employing the autonomous guidance capability incorporated into the Raven small UAS, operators rotated the aircraft over a surveyed point target, a residential building on the base, maintaining unbroken surveillance throughout the demonstration, and reported activity at the target site. In addition to recording the imagery, the demonstration team streamed a live video feed from the operation via webcast throughout the event.
According to Dean Barten, product director for Army SUAS, “This demonstration indicates that the Raven small UAS is capable of performing tasks normally assigned to limited, high demand, and higher echelon reconnaissance assets in a highly cost-effective manner. The Raven small UAS was employed and performed as it does everyday in combat operations - reliably, without fanfare, in support of the soldiers in the fight.”
Barten said that in a testament to the Raven system’s reliability, over the course of the 30-hour demonstration, 27 sorties were flown with no system failures or mission aborts. The system operated flawlessly, despite the presence of high winds, air turbulence and rain, all while operating out of an unimproved area.
“Soldiers have in their rucksacks an immediately accessible, long-term surveillance unmanned aircraft system to give them extended bird’s eye views of a target so they don’t have to wait for larger unmanned aircraft systems that are in high demand,” said John Grabowsky, executive vice president and general manager of AV’s UAS segment. “The battle-proven Raven system could also support many important non-military applications for extended intelligence, surveillance and reconnaissance, such as border control, law enforcement, and communications and reconnaissance following a major storm.”
In order to maintain continuous surveillance, the Raven system operators rotated the aircraft over the target: one aircraft operating on an alternate control channel would relieve the orbiting aircraft prior to the latter’s rotation back to the launch/ recovery site. The Raven system’s daytime color electro-optical camera and nighttime infrared camera payloads were employed to ensure continuous situational awareness. The Raven system’s operations were conducted in varying weather conditions, including rain and temperatures ranging from low 70’s to mid 40’s (Fahrenheit).
The Raven systems used by the Army include three air vehicles, day and night sensors, two ground control stations, a laptop computer with mission planning and recording software and accompanying spares and a battery charger. The 4.2-pound Raven aircraft is powered by lithium-ion batteries.
In addition to its Raven system, AV’s small UAS product family includes Puma AE™ and Wasp™, which are also hand-launched and controlled by AV’s hand-held ground control station.
Each aircraft in AV’s family of small UAS is interoperable and tailored to address a variety of operational user needs. AV’s UAS logistics operation supports systems deployed worldwide to ensure a consistently high level of operational readiness. AV has delivered thousands of small unmanned aircraft to date. International purchasers of Raven systems include Italy, Denmark, the Netherlands and Spain.
About AeroVironment, Inc. (AV)
Building on a history of technological innovation, AV designs, develops, produces, and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) and efficient electric energy systems. Agencies of the U.S. Department of Defense and allied military services use the company’s hand-launched UAS to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance, and target acquisition. Commercial and government entities use AV’s clean transportation solutions such as electric vehicle test systems and electric vehicle fast charge systems, as well as its clean energy solutions. More information about AV is available at www.avinc.com.
Safe Harbor Statement
Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Additional AV News: http://www.avinc.com/News.asp AV Media Gallery: http://www.avinc.com/media_gallery.asp
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5930876&lang=en
Contacts AeroVironment, Inc.Steven Gitlin+1 626-357-9983pr@avinc.comorFor AeroVironment, Inc.Mark Boyer+1 310-229-5956mark@boyersyn.com
Tuesday, March 31, 2009
Ceradyne, Inc. Receives $77 Million XSAPI Body Armor Order
Ceradyne, Inc. Receives $77 Million XSAPI Body Armor Order
COSTA MESA, Calif.---Ceradyne, Inc. (NASDAQ:CRDN) announced that it has received a delivery order for approximately $77 million for XSAPI ceramic body armor plates. Ceradyne will begin shipping this XSAPI production release in the second quarter of 2009 and expects to complete the order in the fourth quarter of 2009. The release was issued under the $2.37 billion five- year ID/IQ (Indefinite Delivery/Indefinite Quantity) contract announced earlier in October 2008. The Company also announced it has successfully completed all First Article Testing and associated lot testing on its related ESAPI and XSAPI designs.
This approximately $77 million initial XSAPI production order replaces the $73 million XSAPI production order announced by Ceradyne on October 9, 2008; that order was subsequently withdrawn when a competitor protested the award.
As is Ceradyne’s policy, we book as orders only actual releases with firm delivery dates. Therefore, this release of approximately $77 million will become part of our backlog and not the $2.37 billion five-year ID/IQ contract.
David P. Reed, Ceradyne President North American Operations, commented: “We are extremely pleased to have been awarded this XSAPI contract. Although it was delayed, we intend to ship this release in its entirety in calendar 2009. Our large installed industrial base should allow us to provide the Army its XSAPI requirements with on-time deliveries and high quality. We believe that our track record on ESAPI and our vertically integrated strategy; i.e., from powder to final product, has been instrumental in our winning over 70% of the government’s needs.
“This new armor system was designed by Ceradyne’s extensive ceramic, polymer and ballistic research team here in Costa Mesa and Irvine, California. The XSAPI design is the most robust ballistic protection available to our American fighting men and women. It not only stops the most lethal ‘X’ ballistic threats, but also defeats other threats that the former ESAPI and SAPI systems were designed to address as well.”
Reed further commented: “During the balance of 2009, our engineers and senior staff will be working with the military to more clearly define battlefield threats and deployment plans through the year 2013.”
Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information about the Company can be found at www.ceradyne.com.
Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and its Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission.
Contacts Ceradyne, Inc.David Reed, President North American Operations714-549-0421, x8245orSilverman Heller AssociatesPhil Bourdillon/Gene Heller, 310-208-2550
COSTA MESA, Calif.---Ceradyne, Inc. (NASDAQ:CRDN) announced that it has received a delivery order for approximately $77 million for XSAPI ceramic body armor plates. Ceradyne will begin shipping this XSAPI production release in the second quarter of 2009 and expects to complete the order in the fourth quarter of 2009. The release was issued under the $2.37 billion five- year ID/IQ (Indefinite Delivery/Indefinite Quantity) contract announced earlier in October 2008. The Company also announced it has successfully completed all First Article Testing and associated lot testing on its related ESAPI and XSAPI designs.
This approximately $77 million initial XSAPI production order replaces the $73 million XSAPI production order announced by Ceradyne on October 9, 2008; that order was subsequently withdrawn when a competitor protested the award.
As is Ceradyne’s policy, we book as orders only actual releases with firm delivery dates. Therefore, this release of approximately $77 million will become part of our backlog and not the $2.37 billion five-year ID/IQ contract.
David P. Reed, Ceradyne President North American Operations, commented: “We are extremely pleased to have been awarded this XSAPI contract. Although it was delayed, we intend to ship this release in its entirety in calendar 2009. Our large installed industrial base should allow us to provide the Army its XSAPI requirements with on-time deliveries and high quality. We believe that our track record on ESAPI and our vertically integrated strategy; i.e., from powder to final product, has been instrumental in our winning over 70% of the government’s needs.
“This new armor system was designed by Ceradyne’s extensive ceramic, polymer and ballistic research team here in Costa Mesa and Irvine, California. The XSAPI design is the most robust ballistic protection available to our American fighting men and women. It not only stops the most lethal ‘X’ ballistic threats, but also defeats other threats that the former ESAPI and SAPI systems were designed to address as well.”
Reed further commented: “During the balance of 2009, our engineers and senior staff will be working with the military to more clearly define battlefield threats and deployment plans through the year 2013.”
Ceradyne develops, manufactures and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel and commercial applications. Additional information about the Company can be found at www.ceradyne.com.
Except for the historical information contained herein, this press release contains forward-looking statements regarding future events and the future performance of Ceradyne that involve risks and uncertainties that could cause actual results to differ materially from those projected. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions are intended to identify forward-looking statements. These risks and uncertainties are described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and its Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission.
Contacts Ceradyne, Inc.David Reed, President North American Operations714-549-0421, x8245orSilverman Heller AssociatesPhil Bourdillon/Gene Heller, 310-208-2550
Thursday, March 26, 2009
Defense Stocks Sector Close-Up, Defense Stocks Up with Markets -Raytheon Company (NYSE: RTN ) up 7.71%
Defense Stocks Sector Close-Up, Defense Stocks Up with Markets
Raytheon Company (NYSE: RTN ) up 7.71%
POINT ROBERTS, Wash., DELTA, B.C. –March 26, 2009 – www.HomelandDefenseStocks.com, a leading global investor and industry portal for the defense and security sector, within Investorideas.com, presents a sector close-up on leading defense stocks following another positive day in the markets.
Defense stocks trading as of close- March 26, 2009:
American Science and Engineering Inc (NasdaqGS: ASEI) closed up $ 2.81 (5.46% ).
Honeywell International Inc. (NYSE:HON) had gains of $ 1.46 (5.04%).
L-3 Communications (NYSE: LLL ) closed at $ 70.73, up $ 2.30 (3.36%).
Lockheed Martin Corporation (NYSE:LMT) end the day at $ 72.67, up $4.19 (6.12%).
Northrop Grumman Corporation (NYSE:NOC) closed up (5.25%).
Raytheon Company (NYSE: RTN ) closed up at 40.10, moving up $2.87 (7.71%) on the day.
To research more defense (defence) stocks:
Homeland Security and Defense Stocks Directory:
http://www.investorideas.com/Companies/HomelandDefense/Stock_List.asp
Free Defense Stocks Newsletter Sign-up:
http://www.twotigersonline.com/newsletter.html
Spade Defense Index- Interviews and Transcripts:
The SPADE Defense Index® (AMEX: DXS) is a modified capitalization-weighted index comprised of publicly traded companies that benchmarks the performance of companies involved with the defense, homeland security, and space marketplace. http://www.investorideas.com/Content_Partners/SI/Default.asp
About Homelanddefensestocks.com- HomelandDefenseStocks.com Portal is a global meeting place for investors and industry following defense and security, within Investorideas.com. Global visitors use the site daily to research the latest news, articles, audio, research reports and stock directories.
Affiliated Homeland Security/Defense Website –
The National Homeland Security Knowledgebase (NHSK) - Securing a Better World
(NHSK) is a leading Non-Government Website for search phrase "Homeland Security" featuring a comprehensive collection of links and resources and news in Homeland Security, Defense and global security issues.
About InvestorIdeas.com:
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, the Middle East and Australia.
Investorideas.com Membership – Defense stocks directory access and investor research tool
With markets and investor sentiment changing daily- it is more important than ever to stay on top of key trends! Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and Investor Ideas Members only Restricted Content including the complete renewable energy stocks directory, water stocks, biotech and defense stocks directory, as well as the Insiders Corner by Michael Brush.
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Our sites do not make recommendations, but offer information portals to investors to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of any information presented. All information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is compensated by featured companies, news submissions and online advertising.
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@HomelandDefenseStocks.com
Source: HomelandDefenseStocks.com, Investor Ideas
Raytheon Company (NYSE: RTN ) up 7.71%
POINT ROBERTS, Wash., DELTA, B.C. –March 26, 2009 – www.HomelandDefenseStocks.com, a leading global investor and industry portal for the defense and security sector, within Investorideas.com, presents a sector close-up on leading defense stocks following another positive day in the markets.
Defense stocks trading as of close- March 26, 2009:
American Science and Engineering Inc (NasdaqGS: ASEI) closed up $ 2.81 (5.46% ).
Honeywell International Inc. (NYSE:HON) had gains of $ 1.46 (5.04%).
L-3 Communications (NYSE: LLL ) closed at $ 70.73, up $ 2.30 (3.36%).
Lockheed Martin Corporation (NYSE:LMT) end the day at $ 72.67, up $4.19 (6.12%).
Northrop Grumman Corporation (NYSE:NOC) closed up (5.25%).
Raytheon Company (NYSE: RTN ) closed up at 40.10, moving up $2.87 (7.71%) on the day.
To research more defense (defence) stocks:
Homeland Security and Defense Stocks Directory:
http://www.investorideas.com/Companies/HomelandDefense/Stock_List.asp
Free Defense Stocks Newsletter Sign-up:
http://www.twotigersonline.com/newsletter.html
Spade Defense Index- Interviews and Transcripts:
The SPADE Defense Index® (AMEX: DXS) is a modified capitalization-weighted index comprised of publicly traded companies that benchmarks the performance of companies involved with the defense, homeland security, and space marketplace. http://www.investorideas.com/Content_Partners/SI/Default.asp
About Homelanddefensestocks.com- HomelandDefenseStocks.com Portal is a global meeting place for investors and industry following defense and security, within Investorideas.com. Global visitors use the site daily to research the latest news, articles, audio, research reports and stock directories.
Affiliated Homeland Security/Defense Website –
The National Homeland Security Knowledgebase (NHSK) - Securing a Better World
(NHSK) is a leading Non-Government Website for search phrase "Homeland Security" featuring a comprehensive collection of links and resources and news in Homeland Security, Defense and global security issues.
About InvestorIdeas.com:
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, the Middle East and Australia.
Investorideas.com Membership – Defense stocks directory access and investor research tool
With markets and investor sentiment changing daily- it is more important than ever to stay on top of key trends! Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and Investor Ideas Members only Restricted Content including the complete renewable energy stocks directory, water stocks, biotech and defense stocks directory, as well as the Insiders Corner by Michael Brush.
Become an InvestorIdeas.com -Learn more: http://www.investorideas.com/membership/
InvestorIdeas.com Disclaimer: www.InvestorIdeas.com/About/Disclaimer.asp
Our sites do not make recommendations, but offer information portals to investors to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of any information presented. All information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is compensated by featured companies, news submissions and online advertising.
For more information contact:
Dawn Van Zant 800.665.0411
Email: dvanzant@HomelandDefenseStocks.com
Source: HomelandDefenseStocks.com, Investor Ideas
Wednesday, March 25, 2009
BAE Systems Receives $55.7 Million Soldier Equipment Orders from U.S. Department of Defense
BAE Systems Receives $55.7 Million Soldier Equipment Orders from U.S. Department of Defense
PHOENIX March 25 2009 --BAE Systems has received two orders valued at $55.7 million from the U.S. Army and Defense Logistics Agency (DLA) for production of Modular Lightweight Load Carrying Equipment (MOLLE) Core Rifleman sets, Ruck sets and components.
MOLLE is the primary field equipment system for the U.S. Army and each set incorporates a load-bearing vest, pockets, backpacks and a hydration system. The MOLLE system is a highly adaptable platform that enables soldiers to carry equipment and supplies critical to their mission.
“The MOLLE system's adjustable design allows it to be scaled for specific operational environments which contribute to the overall performance and effectiveness of the individual,” said Joe Coltman, vice president of Personnel Protection Systems for BAE Systems.
The $35.7 million DLA order is part of a $374 million multi-year contract awarded to BAE Systems in June 2008. To date, approximately $128.4 million of that contract has been obligated.
The $20 million U.S. Army order is part of a $258.9 million contract awarded to BAE Systems in February 2008. To date, approximately $207.9 million of that contract has been obligated.
Production for both orders will be completed at facilities located in Arizona, Kentucky, Pennsylvania and Tennessee with deliveries scheduled for completion by July 2009 and March 2010 respectively.
BAE Systems has produced over 1.5 million MOLLE sets over the last four years. Employing nearly 2,000 employees at its Personnel Protection Systems' facilities in Arizona, Kentucky, Pennsylvania and Tennessee, BAE Systems' Security & Survivability Systems is a technology leader in light weight materials and products including composite, ceramic and transparent armor technologies, integrated vehicle armor systems, vehicle and aircraft survivability components and accessories and soldier protection equipment.
About BAE Systems
BAE Systems is the premier global defense, security and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services. With approximately 105,000 employees worldwide, BAE Systems' sales exceeded £18.5 billion (U.S. $34.4 billion) in 2008.
Contacts BAE SystemsHeather Russell, +1 602-643-7260Mobile: +1 602-373-8625heather.russell@baesystems.comorShannon Smith, +1 703-907-8257Mobile: +1 703-967-3854Shannon.n.smith@baesystems.com
www.baesystems.com
PHOENIX March 25 2009 --BAE Systems has received two orders valued at $55.7 million from the U.S. Army and Defense Logistics Agency (DLA) for production of Modular Lightweight Load Carrying Equipment (MOLLE) Core Rifleman sets, Ruck sets and components.
MOLLE is the primary field equipment system for the U.S. Army and each set incorporates a load-bearing vest, pockets, backpacks and a hydration system. The MOLLE system is a highly adaptable platform that enables soldiers to carry equipment and supplies critical to their mission.
“The MOLLE system's adjustable design allows it to be scaled for specific operational environments which contribute to the overall performance and effectiveness of the individual,” said Joe Coltman, vice president of Personnel Protection Systems for BAE Systems.
The $35.7 million DLA order is part of a $374 million multi-year contract awarded to BAE Systems in June 2008. To date, approximately $128.4 million of that contract has been obligated.
The $20 million U.S. Army order is part of a $258.9 million contract awarded to BAE Systems in February 2008. To date, approximately $207.9 million of that contract has been obligated.
Production for both orders will be completed at facilities located in Arizona, Kentucky, Pennsylvania and Tennessee with deliveries scheduled for completion by July 2009 and March 2010 respectively.
BAE Systems has produced over 1.5 million MOLLE sets over the last four years. Employing nearly 2,000 employees at its Personnel Protection Systems' facilities in Arizona, Kentucky, Pennsylvania and Tennessee, BAE Systems' Security & Survivability Systems is a technology leader in light weight materials and products including composite, ceramic and transparent armor technologies, integrated vehicle armor systems, vehicle and aircraft survivability components and accessories and soldier protection equipment.
About BAE Systems
BAE Systems is the premier global defense, security and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services. With approximately 105,000 employees worldwide, BAE Systems' sales exceeded £18.5 billion (U.S. $34.4 billion) in 2008.
Contacts BAE SystemsHeather Russell, +1 602-643-7260Mobile: +1 602-373-8625heather.russell@baesystems.comorShannon Smith, +1 703-907-8257Mobile: +1 703-967-3854Shannon.n.smith@baesystems.com
www.baesystems.com
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