Smith & Wesson Receives Fourth Military Contract
February 16 2006 - 8:10AM
PR Newswire (US)
Smith & Wesson Receives $15 Million Order for SW9VE Pistols
from US Army for Afghanistan National Police SPRINGFIELD, Mass.,
Feb. 16 /PRNewswire-FirstCall/ -- Smith & Wesson Holding Corp.
(AMEX:SWB), the legendary 154-year old company in the global
business of safety, security, protection and sport, today announced
it has secured a $15 million order to supply its SW9VE 9mm pistols
to the United States Army Security Assistance Command (USASC)
Special Projects Office for shipment to the Afghanistan National
Police (ANP). In 2005, Smith & Wesson shipped a total of 22,500
pistols for use by the Afghanistan National Army and the
Afghanistan Border Patrol. The new order represents the fourth
contract awarded to Smith & Wesson by the U.S. Army for
security forces in Afghanistan and is more than twice as large as
the combined total of the previous orders, all of which were
shipped in fiscal 2006. Michael Golden, President and Chief
Executive Officer, said, "This order represents our largest single
military contract to date from the U.S. Army for shipment to
Afghanistan. The Smith & Wesson semi-automatic pistols we
shipped last year have been well received by the Afghanistan
National Army and Border Patrol, leading to this new contract to
fill requirements for the Afghanistan National Police. One of our
stated strategies is to become a significant supplier of
high-quality small arms to the military and to the federal
government. We continue to secure orders from the U.S. Army for
Afghanistan, a reflection that we are executing on that strategy."
Smith & Wesson indicated it won the current order based on the
features of the SW9VE 9mm pistol and overall performance of the
products the Company shipped to Afghanistan throughout 2005. Smith
& Wesson expects the bulk of the order to ship within its 2007
fiscal year, which begins in May 2006. The pistols will be
manufactured entirely in the United States. The SW9VE is a
double-action-only pistol constructed with a durable polymer frame
and a through-hardened stainless steel slide and barrel. The 9 mm
pistol features an ergonomic design that accommodates various hand
sizes, as well as simple operation procedures. About Smith &
Wesson Smith & Wesson Holding Corp., through its subsidiary
Smith & Wesson Corp., is one of the world's largest
manufacturers of quality handguns, law enforcement products and
firearm safety/security products. The Company also provides shooter
protection, knives, apparel, footwear and other accessory lines.
The Company is based in Springfield, Mass., with manufacturing
facilities in Springfield and Houlton, Maine. The Smith &
Wesson Academy is America's longest-running firearms training
facility for America's public servants. For more information, call
(800) 331-0852 or log on to http://www.smith-wesson.com/. Safe
Harbor Statement Certain statements contained in this press release
may be deemed to be forward-looking statements under federal
securities laws, and the Company intends that such forward-looking
statements be subject to the safe-harbor created thereby. Such
forward-looking statements include statements regarding the success
of the Company's strategy to supply its products to the military
and the federal government; the performance and features of the
SW9VE; and customer satisfaction with the product. The Company
cautions that these statements are qualified by important factors
that could cause actual results to differ materially from those
reflected by such forward-looking statements. Such factors include
the Company's ability to fulfill the order in a timely manner; the
ability of the Company to manufacture the pistols in accordance
with the order; and other risks detailed from time to time in the
Company's reports filed with the SEC. Contact: John Kelly, Chief
Financial Officer (413)747-3305 First Call Analyst: FCMN Contact:
DATASOURCE: Smith & Wesson Holding Corp. Contact: John Kelly,
Chief Financial Officer of Smith & Wesson Holding Corp.,
+1-413-747-3305, or Web site: http://www.smith-wesson.com/
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