BAE Systems, General Dynamics Submit Final Proposal on U.S. Navy Electronic Warfare System to Defeat Sophisticated Maritime Threats
HUDSON, N.H May 6 2009 BAE Systems and General Dynamics Advanced Information Systems have submitted their final proposal to provide the surface-ship electronic warfare (EW) system for the U.S. Navy’s Surface Electronic Warfare Improvement Program (SEWIP) Block 2 upgrade competition.
The next-generation SEWIP Block 2 system is designed to defeat increasingly sophisticated maritime threats by intercepting and classifying threat radars, particularly those on anti-ship cruise missiles. The BAE Systems and General Dynamics Sea Lightning team will seamlessly integrate EW open architecture capabilities with the Navy’s latest generation combat direction and management systems.
“Sea Lightning provides the foundation for electronic warfare in the maritime environment,” said Greg Smith, vice president of information dominance systems for BAE Systems. “It was born from the need to better protect Navy surface ships against the evolving cruise missile threat and will provide the Navy the capability they’ve asked for.”
“Our solution leverages the best electronic warfare capabilities of both BAE Systems and General Dynamics,” said Mike Tweed-Kent, vice president and general manager of integrated combat systems for General Dynamics Advanced Information Systems. “Our team is prepared to provide the Navy with the best technology upgrades at a lower cost and a shortened execution schedule.”
The SEWIP Block 2 will upgrade the Navy’s AN/SLQ-32(V) electronic support measures system. The AN/SLQ-32(V) provides early warning of enemy threats and initiates decoy engagements to defeat attacks by guided weapons. SEWIP Block 2 will upgrade the system’s receiver, antenna and combat system interface. The Navy is expected to award a contract in 2009. For more information about SEWIP Block 2, please visit www.baesystems.com/sealightning.
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 (US $34.4 billion) in 2008.
Contacts Matthew C. Bates, BAE SystemsTel: +1 603-885-4558 Mobile: +1 603-318-6521matthew.bates@baesystems.comorShannon Smith, BAE SystemsTel: +1 703-907-8257 Mobile: +1 703-967-3854shannon.n.smith@baesystems.comhttp://www.baesystems.com/
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Wednesday, May 6, 2009
Defense Budget Winners and Losers-How Defense Companies Boeing (NYSE:BA), Northrop Grumman (NYSE:NOC),OTCBB: OPXS) and others are Impacted
Defense Budget Winners and Losers
How Defense Companies Boeing (NYSE:BA), Northrop Grumman (NYSE:NOC), General Dynamics (NYSE:GD), Optex Systems Holdings, Inc. (OTCBB: OPXS) and others are Impacted
POINT ROBERTS, Wash., DELTA, B.C. - May 6, 2009 – http://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 defense stocks following recently announced changes in the Defense Budget.
Defense Budget Winners and Losers
Lisa Springer CFA, Equity research analyst and financial writer
The 2010 defense budget presented by Defense Secretary Robert Gates offers growth prospects for defense contractors involved in cyber security, intelligence, surveillance and reconnaissance, but disappointments for big ticket programs such as F-22 fighter jets, combat search and rescue helicopters and missile intercepting lasers. Secretary Gate’s budget suggests major changes to more than 50 weapons programs, some cancellations and increased funding to a select few. At $534 billion, the 2010 budget is 4% higher than last year and nearly double America’s annual defense budget in the year leading up to the September 11, 2001 terrorist attacks. Secretary Gates is also seeking supplemental funding of $130 billion for the wars in Iraq and Afghanistan next year, down from $141.4 billion in supplemental funding for these operations in the current fiscal year.
Significant programs that lost funding included ground-based missile defense, Army ground vehicle modernization and military transport C-17 aircraft programs managed by Boeing (NYSE:BA) and the DDG-1000 Navy destroyer program jointly managed by Northrop Grumman (NYSE:NOC) and General Dynamics (NYSE:GD). In general, Secretary Gate’s budget shifts spending away from big ticket defense programs conceived during the Cold War to smaller programs that have already proven their usefulness in combat such as unmanned drones used to hunt insurgents in Afghanistan, Iraq and Pakistan. Secretary Gate’s request for a $2.0 billion increase in cyber security and reconnaissance spending for 2010 is a positive development for prime contractors Lockheed Martin ( NYSE:LMT), Northrop Grumman and Raytheon (NYSE:RTN), who have already established substantial capabilities in this segment.
Share prices for several of the major defense contractors rose after the new budget was announced because spending cuts were not as deep as many investors had feared. Lockheed Martin will see funding reductions in some areas but overall fared reasonably well under the new budget. For example, although Secretary Gate’s budget caps purchases of Lockheed’s F-22 fighters at the 187 jets already ordered, it increases 2010 funding 65% to $11.2 billion for Lockheed’s next generation F-35 Joint Strike Fighter. The Pentagon plans to acquire 513 F-35 fighter jets, priced at $80 million apiece, over the next five years and at least 2,300 F-35 fighter jets over the 30 year life of the contract. The Department of Defense also announced plans to purchase two expensive new imaging satellites as part of a contract likely to be awarded to Lockheed Martin, and the Navy shared its plans to purchase three Littoral Combat Ships (LCS) manufactured by General Dynamics and Lockheed Martin. These ships, designed to operate in shallow seas and within 100 miles of shore, are priced at approximately $500 million apiece.
A major change in the new defense budget is the gutting of the Army’s $200 billion Future Combat Systems (FCS) program and its eight program ground vehicles. These vehicles include next generation tanks, cannons and infantry carriers. When first announced six years ago, FCS was lauded as the program that would equip a 21st century military force with high-tech combat vehicles able to outgun and out-maneuver any enemy. The hard lesson learned in Iraq and Afghanistan, however, was that these lightweight vehicles were too thinly armored to survive insurgent attacks with road-side bombs. A few pieces of the FCS program will continue to be funded such as ground robots and unmanned aerial drones. This is welcome news for AeroVironment (NASDAQ:AVAV), a small cap defense contractor and leading supplier of military unmanned aerial vehicles.
Budget plans that defer spending on next-generation FCS platforms are also positive news for defense contractors supplying assemblies and spare parts for existing military vehicle platforms. Because of FCS program cuts, Abrams tanks and Bradley and Stryker ground vehicles are likely to remain the workhorses of the U.S. military for at least the next 20 years. Optex Systems Holdings, Inc. (OTCBB: OPXS ) is a small cap company benefitting from this trend. Founded in 1987, Optex supplies sighting systems and replacement optics installed on most types of U.S. military vehicles, including Abrams, Bradley and Stryker fighting vehicles. In addition, the company’s optical sighting systems target the big Howitzer guns used by the U.S. military to shell insurgent positions in the mountains of Afghanistan with lethal effectiveness. Demand for Optex sighting systems is likely to rise as the war in Afghanistan ramps up and the company is working with its military customers to increase its production and capabilities. Besides military sales, Optex also sees opportunities to integrate some of its night vision and optical sight product lines into retail applications.
In fiscal 2009, Optex (OTCBB: OPXS) expects to recognize $27.4 million in revenues from its sizable contract backlog and the company is actively pursuing on other large government contracts. Backlog was $44 million at fiscal year-end and $39 million at the end of the first quarter of fiscal 2009. Optex revenues rose 64.5% year-over-year during first quarter of fiscal 2009 to $7.2 million and net losses fell to $0.03 million from $0.69 million one year earlier.
Lisa Springer Bio/ Disclaimer: http://www.investorideas.com/About/Lisa-Springer-CFA/
Optex Systems Holdings, Inc. (OTCBB: OPXS) is a featured defense stock and showcase company on Investor Ideas defense investor portals, Homelandefensestocks.com, BorderandPortsecurity.com and http://www.nationalhomelandsecurityknowledgebase.com/
Visit Optex Systems Holdings, Inc. (OTCBB: OPXS) Company Profile: http://www.investorideas.com/CO/OPTEX/
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.
Defense Stocks Directory: http://www.investorideas.com/Companies/HomelandDefense/Stock_List.asp
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 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. OPXS Disclosure: Optex is a featured showcase company and compensates Investorideas.com $3000 month and sixty two thousand 144 shares issued quarterly.
Optex Systems Holdings, Inc. has not been consulted as to the content of this article. Optex specifically disclaims any involvement with the creation or review thereof, and specifically disclaims the making of any warranties as to the factual nature of the article or its conclusions or of its failure to make a statement where one may be warranted.
For more information contact: Dawn Van Zant 800.665.0411 Email: dvanzant@HomelandDefenseStocks.com
Source: HomelandDefenseStocks.com, Investor Ideas.com
How Defense Companies Boeing (NYSE:BA), Northrop Grumman (NYSE:NOC), General Dynamics (NYSE:GD), Optex Systems Holdings, Inc. (OTCBB: OPXS) and others are Impacted
POINT ROBERTS, Wash., DELTA, B.C. - May 6, 2009 – http://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 defense stocks following recently announced changes in the Defense Budget.
Defense Budget Winners and Losers
Lisa Springer CFA, Equity research analyst and financial writer
The 2010 defense budget presented by Defense Secretary Robert Gates offers growth prospects for defense contractors involved in cyber security, intelligence, surveillance and reconnaissance, but disappointments for big ticket programs such as F-22 fighter jets, combat search and rescue helicopters and missile intercepting lasers. Secretary Gate’s budget suggests major changes to more than 50 weapons programs, some cancellations and increased funding to a select few. At $534 billion, the 2010 budget is 4% higher than last year and nearly double America’s annual defense budget in the year leading up to the September 11, 2001 terrorist attacks. Secretary Gates is also seeking supplemental funding of $130 billion for the wars in Iraq and Afghanistan next year, down from $141.4 billion in supplemental funding for these operations in the current fiscal year.
Significant programs that lost funding included ground-based missile defense, Army ground vehicle modernization and military transport C-17 aircraft programs managed by Boeing (NYSE:BA) and the DDG-1000 Navy destroyer program jointly managed by Northrop Grumman (NYSE:NOC) and General Dynamics (NYSE:GD). In general, Secretary Gate’s budget shifts spending away from big ticket defense programs conceived during the Cold War to smaller programs that have already proven their usefulness in combat such as unmanned drones used to hunt insurgents in Afghanistan, Iraq and Pakistan. Secretary Gate’s request for a $2.0 billion increase in cyber security and reconnaissance spending for 2010 is a positive development for prime contractors Lockheed Martin ( NYSE:LMT), Northrop Grumman and Raytheon (NYSE:RTN), who have already established substantial capabilities in this segment.
Share prices for several of the major defense contractors rose after the new budget was announced because spending cuts were not as deep as many investors had feared. Lockheed Martin will see funding reductions in some areas but overall fared reasonably well under the new budget. For example, although Secretary Gate’s budget caps purchases of Lockheed’s F-22 fighters at the 187 jets already ordered, it increases 2010 funding 65% to $11.2 billion for Lockheed’s next generation F-35 Joint Strike Fighter. The Pentagon plans to acquire 513 F-35 fighter jets, priced at $80 million apiece, over the next five years and at least 2,300 F-35 fighter jets over the 30 year life of the contract. The Department of Defense also announced plans to purchase two expensive new imaging satellites as part of a contract likely to be awarded to Lockheed Martin, and the Navy shared its plans to purchase three Littoral Combat Ships (LCS) manufactured by General Dynamics and Lockheed Martin. These ships, designed to operate in shallow seas and within 100 miles of shore, are priced at approximately $500 million apiece.
A major change in the new defense budget is the gutting of the Army’s $200 billion Future Combat Systems (FCS) program and its eight program ground vehicles. These vehicles include next generation tanks, cannons and infantry carriers. When first announced six years ago, FCS was lauded as the program that would equip a 21st century military force with high-tech combat vehicles able to outgun and out-maneuver any enemy. The hard lesson learned in Iraq and Afghanistan, however, was that these lightweight vehicles were too thinly armored to survive insurgent attacks with road-side bombs. A few pieces of the FCS program will continue to be funded such as ground robots and unmanned aerial drones. This is welcome news for AeroVironment (NASDAQ:AVAV), a small cap defense contractor and leading supplier of military unmanned aerial vehicles.
Budget plans that defer spending on next-generation FCS platforms are also positive news for defense contractors supplying assemblies and spare parts for existing military vehicle platforms. Because of FCS program cuts, Abrams tanks and Bradley and Stryker ground vehicles are likely to remain the workhorses of the U.S. military for at least the next 20 years. Optex Systems Holdings, Inc. (OTCBB: OPXS ) is a small cap company benefitting from this trend. Founded in 1987, Optex supplies sighting systems and replacement optics installed on most types of U.S. military vehicles, including Abrams, Bradley and Stryker fighting vehicles. In addition, the company’s optical sighting systems target the big Howitzer guns used by the U.S. military to shell insurgent positions in the mountains of Afghanistan with lethal effectiveness. Demand for Optex sighting systems is likely to rise as the war in Afghanistan ramps up and the company is working with its military customers to increase its production and capabilities. Besides military sales, Optex also sees opportunities to integrate some of its night vision and optical sight product lines into retail applications.
In fiscal 2009, Optex (OTCBB: OPXS) expects to recognize $27.4 million in revenues from its sizable contract backlog and the company is actively pursuing on other large government contracts. Backlog was $44 million at fiscal year-end and $39 million at the end of the first quarter of fiscal 2009. Optex revenues rose 64.5% year-over-year during first quarter of fiscal 2009 to $7.2 million and net losses fell to $0.03 million from $0.69 million one year earlier.
Lisa Springer Bio/ Disclaimer: http://www.investorideas.com/About/Lisa-Springer-CFA/
Optex Systems Holdings, Inc. (OTCBB: OPXS) is a featured defense stock and showcase company on Investor Ideas defense investor portals, Homelandefensestocks.com, BorderandPortsecurity.com and http://www.nationalhomelandsecurityknowledgebase.com/
Visit Optex Systems Holdings, Inc. (OTCBB: OPXS) Company Profile: http://www.investorideas.com/CO/OPTEX/
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.
Defense Stocks Directory: http://www.investorideas.com/Companies/HomelandDefense/Stock_List.asp
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 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. OPXS Disclosure: Optex is a featured showcase company and compensates Investorideas.com $3000 month and sixty two thousand 144 shares issued quarterly.
Optex Systems Holdings, Inc. has not been consulted as to the content of this article. Optex specifically disclaims any involvement with the creation or review thereof, and specifically disclaims the making of any warranties as to the factual nature of the article or its conclusions or of its failure to make a statement where one may be warranted.
For more information contact: Dawn Van Zant 800.665.0411 Email: dvanzant@HomelandDefenseStocks.com
Source: HomelandDefenseStocks.com, Investor Ideas.com
Tuesday, May 5, 2009
Raytheon (NYSE: RTN) Awarded up to $138 Million for Information Assurance and Network Operations
Raytheon (NYSE: RTN) Awarded up to $138 Million for Information Assurance and Network Operations
FALLS CHURCH, Va., May 5, 2009 - The Defense Information Systems Agency of the Department of Defense awarded Raytheon Company (NYSE: RTN) an information assurance and network operations contract worth up to $138 million.
The contract guarantees Raytheon $23.2 million for one year. Four options could extend the contract to five years for a potential $138 million.Under the Multinational Information Sharing contract, Raytheon will design, transition and operate a secure voice, video and data-information sharing and collaboration environment for U.S. and coalition forces.
Raytheon's multinational information sharing solution provides U.S. and coalition forces the ability to share information across a flexible and secure environment. The system connects disparate networks into a single, integrated network that enables compartmented, multilevel information sharing.
"Using commercial off-the-shelf products, Raytheon created a system that reduces waste and redundancy and speeds access to information. Actions that once took hours or days to be completed can happen in a matter of seconds," said Andy Zogg, vice president, Raytheon Network Centric Systems' Command and Control Systems. "That kind of efficient, open architecture system results from Raytheon's years as an industry leader in systems integration and international information sharing solutions."
The Raytheon team will also enhance, consolidate and sustain existing multinational information sharing networks while developing the new system.
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 SOURCE Raytheon Company
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FALLS CHURCH, Va., May 5, 2009 - The Defense Information Systems Agency of the Department of Defense awarded Raytheon Company (NYSE: RTN) an information assurance and network operations contract worth up to $138 million.
The contract guarantees Raytheon $23.2 million for one year. Four options could extend the contract to five years for a potential $138 million.Under the Multinational Information Sharing contract, Raytheon will design, transition and operate a secure voice, video and data-information sharing and collaboration environment for U.S. and coalition forces.
Raytheon's multinational information sharing solution provides U.S. and coalition forces the ability to share information across a flexible and secure environment. The system connects disparate networks into a single, integrated network that enables compartmented, multilevel information sharing.
"Using commercial off-the-shelf products, Raytheon created a system that reduces waste and redundancy and speeds access to information. Actions that once took hours or days to be completed can happen in a matter of seconds," said Andy Zogg, vice president, Raytheon Network Centric Systems' Command and Control Systems. "That kind of efficient, open architecture system results from Raytheon's years as an industry leader in systems integration and international information sharing solutions."
The Raytheon team will also enhance, consolidate and sustain existing multinational information sharing networks while developing the new system.
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 SOURCE Raytheon Company
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Defense Stock Company Profile for Optex Systems Holdings, Inc. (OTCBB: OPXS)
Defense Stock Company Profile for Optex Systems Holdings, Inc. (OTCBB: OPXS)
Point Roberts May 5, 2009 - http://www.investorideas.com/ and its leading defense stocks investor portal, Homelanddefensestocks.com, add Optex Systems Holdings, Inc. (OTCBB: OPXS) to its directory of company profiles by industry sectors.
Optex Systems Holdings, Inc., (OTCBB:OPXS ) through its wholly-owned subsidiary, Optex Systems, Inc. manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on a majority of types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles and have been selected for installation on the Future Combat Systems(FCS) Stryker vehicle. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors.
Current customers include General Dynamics (NYSE: GD), Northrop Grumman Corporation (NYSE:NOC) and Raytheon Company (NYSE: RTN).
Read the full company profile:
Visit Optex Systems Holdings, Inc. (OTCBB: OPXS) Company Profile: http://www.investorideas.com/CO/OPTEX/
The company profiles consist of the company name, logo, contact info , sector, executive summary, products and services summary, key executives, keywords, and if publicly traded- stock symbol and exchange.
Optex Systems Holdings, Inc. (OTCBB: OPXS) is a featured defense stock and showcase company on Investor Ideas defense investor portals, Homelandefensestocks.com, BorderandPortsecurity.com and http://www.nationalhomelandsecurityknowledgebase.com/
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Source – Investorideas.com
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Point Roberts May 5, 2009 - http://www.investorideas.com/ and its leading defense stocks investor portal, Homelanddefensestocks.com, add Optex Systems Holdings, Inc. (OTCBB: OPXS) to its directory of company profiles by industry sectors.
Optex Systems Holdings, Inc., (OTCBB:OPXS ) through its wholly-owned subsidiary, Optex Systems, Inc. manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on a majority of types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles and have been selected for installation on the Future Combat Systems(FCS) Stryker vehicle. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors.
Current customers include General Dynamics (NYSE: GD), Northrop Grumman Corporation (NYSE:NOC) and Raytheon Company (NYSE: RTN).
Read the full company profile:
Visit Optex Systems Holdings, Inc. (OTCBB: OPXS) Company Profile: http://www.investorideas.com/CO/OPTEX/
The company profiles consist of the company name, logo, contact info , sector, executive summary, products and services summary, key executives, keywords, and if publicly traded- stock symbol and exchange.
Optex Systems Holdings, Inc. (OTCBB: OPXS) is a featured defense stock and showcase company on Investor Ideas defense investor portals, Homelandefensestocks.com, BorderandPortsecurity.com and http://www.nationalhomelandsecurityknowledgebase.com/
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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 Stock Directories in renewable energy, biotech, water and defense stocks.
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Disclaimer: The following company profile is a paid for submission. Our sites do not make recommendations. 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 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 currently compensated by featured companies, news submissions, company profile submissions and online advertising. www.InvestorIdeas.com/About/Disclaimer.asp
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Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com
Source – Investorideas.com
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Monday, May 4, 2009
Defense Supplier, Optex Systems, Manufacturer of Optical Sighting Systems, Now Trading On OTC (OTCBB: OPXS)
Defense Supplier, Optex Systems, Manufacturer of Optical Sighting Systems, Now Trading On OTC (OTCBB: OPXS)
RICHARDSON, TX -- May 4, 2009 -- Optex Systems (Optex) (OTC BB:OPXS.OB), a subsidiary of Optex Systems Holdings Inc., a manufacturer of optical sighting systems and assemblies primarily for Department of Defense applications, announced today the March 30th completion of its share exchange with publicly held Sustut Exploration (OTC BB:SSTX.OB). As a result of the transaction, Optex has become a publicly traded company and has applied for, and received, a ticker symbol change. Effective with the start of trading on May 5, 2009, Optex will trade under the ticker symbol (OTC BB:OPXS.OB). The business of Optex Systems is now carried on as the sole line of business.
The ISO 9001:2008 certified company manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Advanced Security Vehicles and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors.
Optex was privately held from inception until being acquired by publicly traded Irvine Sensors Corp. (NasdaqCM:IRSN - News) on December 30, 2005 and was operated as a wholly owned subsidiary. On October 14, 2008, Optex Systems Inc. (Delaware), of which the Longview Fund LP was a majority shareholder, acquired Optex Systems. On February 20, 2009, Longview Fund conveyed its ownership interests in the Company to Sileas Corp., an entity owned by three of the Company's officers.
Ronald F. Richards, Chairman of Optex, commented, "We have reached a significant milestone in our company's history. I want to personally thank everyone who has made this possible including each and every one of our valuable and talented employees." Mr. Richards continued, "For those investors new to our story, I hope to continue to update you on the latest developments as we expand our operations. We have a rich history delivering high volume products, under multi-year contracts, to large defense contractors. Optex has the reputation and credibility with those customers as a strategic supplier. These long-term, stable government contracts have typically translated into steady growth for our Company. For fiscal year 2008 we recorded revenues of $20.0 million, as compared to $15.4 million in fiscal year 2007, which translated into a year over year increase of $4.6 million or 29.9%."
ABOUT OPTEX SYSTEMS
Optex, which was founded in 1987, is a Richardson, Texas-based ISO 9001:2008 certified concern, which manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on a majority of types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Advanced Security Vehicles and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors. For additional information, please visit the Company's website at www.optexsys.com.
Safe Harbor Statement
This Press Release and other written reports and oral statements made from time to time by the Company may contain so-called "forward-looking statements," all of which are subject to risks and uncertainties. You can identify these forward-looking statements by their use of words such as "expects," "plans," "will," "estimates," "forecasts," "projects" and other words of similar meaning. You can identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address the Company's growth strategy, financial results and product and development programs. You must carefully consider any such statement and should understand that many factors could cause actual results to differ from the Company's forward-looking statements. These factors include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially.
The Company does not assume the obligation to update any forward-looking statement. You should carefully evaluate such statements in light of factors described in the Company's filings with the SEC, especially on Forms 10-K, 10-Q and 8-K. In various filings the Company has identified important factors that could cause actual results to differ from expected or historic results. You should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider any such list to be a complete list of all potential risks or uncertainties.
Contact:
Howard Gostfrand
American Capital Ventures
(p) 305.918.7000
(e) Email Contact
Source: Optex Systems
Optex Systems Holdings Inc (OTCBB:OPXS) is a featured defense stock and showcase company on Investor Ideas defense investor portals, Homelandefensestocks.com, BorderandPortsecurity.com and http://www.nationalhomelandsecurityknowledgebase.com/ Disclaimer/Discloscure: click here
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RICHARDSON, TX -- May 4, 2009 -- Optex Systems (Optex) (OTC BB:OPXS.OB), a subsidiary of Optex Systems Holdings Inc., a manufacturer of optical sighting systems and assemblies primarily for Department of Defense applications, announced today the March 30th completion of its share exchange with publicly held Sustut Exploration (OTC BB:SSTX.OB). As a result of the transaction, Optex has become a publicly traded company and has applied for, and received, a ticker symbol change. Effective with the start of trading on May 5, 2009, Optex will trade under the ticker symbol (OTC BB:OPXS.OB). The business of Optex Systems is now carried on as the sole line of business.
The ISO 9001:2008 certified company manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Advanced Security Vehicles and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors.
Optex was privately held from inception until being acquired by publicly traded Irvine Sensors Corp. (NasdaqCM:IRSN - News) on December 30, 2005 and was operated as a wholly owned subsidiary. On October 14, 2008, Optex Systems Inc. (Delaware), of which the Longview Fund LP was a majority shareholder, acquired Optex Systems. On February 20, 2009, Longview Fund conveyed its ownership interests in the Company to Sileas Corp., an entity owned by three of the Company's officers.
Ronald F. Richards, Chairman of Optex, commented, "We have reached a significant milestone in our company's history. I want to personally thank everyone who has made this possible including each and every one of our valuable and talented employees." Mr. Richards continued, "For those investors new to our story, I hope to continue to update you on the latest developments as we expand our operations. We have a rich history delivering high volume products, under multi-year contracts, to large defense contractors. Optex has the reputation and credibility with those customers as a strategic supplier. These long-term, stable government contracts have typically translated into steady growth for our Company. For fiscal year 2008 we recorded revenues of $20.0 million, as compared to $15.4 million in fiscal year 2007, which translated into a year over year increase of $4.6 million or 29.9%."
ABOUT OPTEX SYSTEMS
Optex, which was founded in 1987, is a Richardson, Texas-based ISO 9001:2008 certified concern, which manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on a majority of types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Advanced Security Vehicles and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors. For additional information, please visit the Company's website at www.optexsys.com.
Safe Harbor Statement
This Press Release and other written reports and oral statements made from time to time by the Company may contain so-called "forward-looking statements," all of which are subject to risks and uncertainties. You can identify these forward-looking statements by their use of words such as "expects," "plans," "will," "estimates," "forecasts," "projects" and other words of similar meaning. You can identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address the Company's growth strategy, financial results and product and development programs. You must carefully consider any such statement and should understand that many factors could cause actual results to differ from the Company's forward-looking statements. These factors include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially.
The Company does not assume the obligation to update any forward-looking statement. You should carefully evaluate such statements in light of factors described in the Company's filings with the SEC, especially on Forms 10-K, 10-Q and 8-K. In various filings the Company has identified important factors that could cause actual results to differ from expected or historic results. You should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider any such list to be a complete list of all potential risks or uncertainties.
Contact:
Howard Gostfrand
American Capital Ventures
(p) 305.918.7000
(e) Email Contact
Source: Optex Systems
Optex Systems Holdings Inc (OTCBB:OPXS) is a featured defense stock and showcase company on Investor Ideas defense investor portals, Homelandefensestocks.com, BorderandPortsecurity.com and http://www.nationalhomelandsecurityknowledgebase.com/ Disclaimer/Discloscure: click here
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Friday, May 1, 2009
New Defense stock listed on Investorideas.com -Optex Systems Holdings, Inc, (OTCBB:OPXS)
Optex Systems Holdings, Inc, (OTCBB:OPXS) through its wholly-owned subsidiary, Optex Systems, Inc. manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on a majority of types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles and have been selected for installation on the Future Combat Systems(FCS) Stryker vehicle. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors.
Current customers include General Dynamics (NYSE: GD), Northrop Grumman Corporation (NYSE:NOC) and Raytheon Company (NYSE: RTN)
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Current customers include General Dynamics (NYSE: GD), Northrop Grumman Corporation (NYSE:NOC) and Raytheon Company (NYSE: RTN)
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Force Dynamics, LLC Selected To Continue in M-ATV Competition
Force Dynamics, LLC Selected To Continue in M-ATV Competition
LADSON, S.C May 1 2009 Force Dynamics, LLC, a joint venture between Force Protection, Inc. (NASDAQ: FRPT) and General Dynamics Land Systems, has been awarded an indefinite-delivery, indefinite-quantity (IDIQ) contract for the M-ATV Cheetah, a lightweight, high-mobility vehicle, by the U.S. Army Tank-Automotive and Armaments Command’s (TACOM) Mine Resistant Ambush Protected All Terrain Vehicle (M-ATV) program. The IDIQ contract includes an initial order for three vehicles for testing and evaluation and it enables Force Dynamics to compete for future M-ATV vehicle orders.
Previously, Force Dynamics delivered two Production Representative Vehicles (PRVs) to undergo initial survivability and mobility screening as part of the M-ATV solicitation. During this new phase of the evaluation, Force Dynamics will deliver additional PRVs for continued testing.
TACOM has indicated that if an M-ATV vehicle submission can meet all of the inspection requirements, survivability threshold and mobility tests that the vehicle will be given a “fair opportunity” for selection for a production delivery order.
Damon Walsh, executive vice president and managing director of Force Dynamics, commented ”We are very pleased that the Cheetah has been selected to continue to compete for this important and urgently needed program. This is a strong validation of the M-ATV Cheetah’s high level of mobility, combined with MRAP-I level protection. We believe that the M-ATV Cheetah provides the war fighter with the highest level of performance. In order to be as prepared as possible, Force Dynamics has already initiated production of the M-ATV Cheetah. We are fully ready to respond to the customer’s demand for these critical vehicles.”
Mike Cannon, chairman of the board of Force Dynamics and vice president, Ground Combat Systems, at General Dynamics Land Systems, commented “This is an important milestone for Force Dynamics in the M-ATV competition. Our submission offers superior mobility and survivability, and the complementary strengths of this partnership offer the best in production capability, service and support, and research and development.”
“Our M-ATV effort is backed by world-class manufacturing abilities and logistical support that will allow us to successfully deliver on the aggressive procurement schedule outlined by TACOM and to provide total lifecycle support for the vehicle,” Cannon said.
The Force Dynamics joint venture is supplemented by a cohesive partnership of world-class OEMs and an award under this program would create and sustain thousands of skilled employment opportunities in several states, including South Carolina, North Carolina, Alabama and Michigan.
Force Protection and General Dynamics Land Systems, a business unit of General Dynamics (NYSE: GD), have successfully delivered more than 3,000 Cougar MRAP vehicles to the customer.
About Force Protection, Inc.
Force Protection, Inc. is a leading American designer, developer and manufacturer of survivability solutions, predominantly ballistic- and blast-protected wheeled vehicles currently deployed by the U.S. military and its allies to support armed forces and security personnel in conflict zones. Force Protection’s specialty vehicles, the Cougar, the Buffalo and the Cheetah, are designed specifically for reconnaissance and urban operations and to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). Force Protection also is the developer and manufacturer of ForceArmor™, an armor package providing superior protection against explosively formed projectiles (EFPs), now available for a wide range of tactical-wheeled vehicles. Force Protection is one of the original developers and primary providers of vehicles for the U.S. military’s Mine Resistant Ambush Protected, or MRAP, vehicle program. For more information about Force Protection and its vehicles, visit www.forceprotection.net.
About General Dynamics Corp.
General Dynamics, headquartered in Falls Church, Va., employs approximately 92,900 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.
Force Protection, Inc. Safe Harbor Language
This press release contains forward looking statements that are not historical facts, including statements about our beliefs and expectations. These statements are based on beliefs and assumptions of Force Protection’s management, and on information currently available to management. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. Examples of these factors include, but are not limited to, the ultimate selection of Force Dynamics under the M-ATV Program, our ability to fulfill any order for the M-ATV Cheetah on a timely basis, our ability to effectively manage the risks in our business, the reaction of the marketplace to the foregoing and other risk factors and cautionary statements listed in the Company’s periodic reports filed with the Securities and Exchange Commission, including the risks set forth in the Company’s 2008 Annual Report on Form 10-K for the year ended December 31, 2008.
Contacts FPI:Force Protection, Inc.Tommy Pruitt, 843-574-3866Senior Communications DirectororGDLS:GDLSPeter Keating, 586-825-7930VP, Communications
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LADSON, S.C May 1 2009 Force Dynamics, LLC, a joint venture between Force Protection, Inc. (NASDAQ: FRPT) and General Dynamics Land Systems, has been awarded an indefinite-delivery, indefinite-quantity (IDIQ) contract for the M-ATV Cheetah, a lightweight, high-mobility vehicle, by the U.S. Army Tank-Automotive and Armaments Command’s (TACOM) Mine Resistant Ambush Protected All Terrain Vehicle (M-ATV) program. The IDIQ contract includes an initial order for three vehicles for testing and evaluation and it enables Force Dynamics to compete for future M-ATV vehicle orders.
Previously, Force Dynamics delivered two Production Representative Vehicles (PRVs) to undergo initial survivability and mobility screening as part of the M-ATV solicitation. During this new phase of the evaluation, Force Dynamics will deliver additional PRVs for continued testing.
TACOM has indicated that if an M-ATV vehicle submission can meet all of the inspection requirements, survivability threshold and mobility tests that the vehicle will be given a “fair opportunity” for selection for a production delivery order.
Damon Walsh, executive vice president and managing director of Force Dynamics, commented ”We are very pleased that the Cheetah has been selected to continue to compete for this important and urgently needed program. This is a strong validation of the M-ATV Cheetah’s high level of mobility, combined with MRAP-I level protection. We believe that the M-ATV Cheetah provides the war fighter with the highest level of performance. In order to be as prepared as possible, Force Dynamics has already initiated production of the M-ATV Cheetah. We are fully ready to respond to the customer’s demand for these critical vehicles.”
Mike Cannon, chairman of the board of Force Dynamics and vice president, Ground Combat Systems, at General Dynamics Land Systems, commented “This is an important milestone for Force Dynamics in the M-ATV competition. Our submission offers superior mobility and survivability, and the complementary strengths of this partnership offer the best in production capability, service and support, and research and development.”
“Our M-ATV effort is backed by world-class manufacturing abilities and logistical support that will allow us to successfully deliver on the aggressive procurement schedule outlined by TACOM and to provide total lifecycle support for the vehicle,” Cannon said.
The Force Dynamics joint venture is supplemented by a cohesive partnership of world-class OEMs and an award under this program would create and sustain thousands of skilled employment opportunities in several states, including South Carolina, North Carolina, Alabama and Michigan.
Force Protection and General Dynamics Land Systems, a business unit of General Dynamics (NYSE: GD), have successfully delivered more than 3,000 Cougar MRAP vehicles to the customer.
About Force Protection, Inc.
Force Protection, Inc. is a leading American designer, developer and manufacturer of survivability solutions, predominantly ballistic- and blast-protected wheeled vehicles currently deployed by the U.S. military and its allies to support armed forces and security personnel in conflict zones. Force Protection’s specialty vehicles, the Cougar, the Buffalo and the Cheetah, are designed specifically for reconnaissance and urban operations and to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). Force Protection also is the developer and manufacturer of ForceArmor™, an armor package providing superior protection against explosively formed projectiles (EFPs), now available for a wide range of tactical-wheeled vehicles. Force Protection is one of the original developers and primary providers of vehicles for the U.S. military’s Mine Resistant Ambush Protected, or MRAP, vehicle program. For more information about Force Protection and its vehicles, visit www.forceprotection.net.
About General Dynamics Corp.
General Dynamics, headquartered in Falls Church, Va., employs approximately 92,900 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.
Force Protection, Inc. Safe Harbor Language
This press release contains forward looking statements that are not historical facts, including statements about our beliefs and expectations. These statements are based on beliefs and assumptions of Force Protection’s management, and on information currently available to management. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. Examples of these factors include, but are not limited to, the ultimate selection of Force Dynamics under the M-ATV Program, our ability to fulfill any order for the M-ATV Cheetah on a timely basis, our ability to effectively manage the risks in our business, the reaction of the marketplace to the foregoing and other risk factors and cautionary statements listed in the Company’s periodic reports filed with the Securities and Exchange Commission, including the risks set forth in the Company’s 2008 Annual Report on Form 10-K for the year ended December 31, 2008.
Contacts FPI:Force Protection, Inc.Tommy Pruitt, 843-574-3866Senior Communications DirectororGDLS:GDLSPeter Keating, 586-825-7930VP, Communications
Research defense stocks with the global defense stocks directory at Investorideas.com
click here:
http://www.investorideas.com/Companies/HomelandDefense/Stock_List.asp
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