Army Funds Additional $9.7 Million for TCS SNAP Deliverables
October 28 2008 - 8:45AM
Marketwired
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a leading
provider of mission-critical wireless communications, today
announced that it has received an additional $9.7 million of
funding from the U.S. Army to provide additional Secure Internet
Protocol Router (SIPR) and Non-secure Internet Protocol Router
(NIPR) Access Point (SNAP) Very Small Aperture Terminal (VSAT)
Satellite Systems. This is part of the U.S. Army
Communications-Electronics Life Cycle Management Command (CECOM
LCMC) order that was announced in August, with a potential value of
$246 million, and brings SNAP funding to date to $36 million.
It is the third increment of SNAP funding for TCS' highly
reliable SwiftLink� deployable communications products. The U.S.
Army Project Manager for the Warfighter Information
Network-Tactical (PM WIN-T) Commercial Satellite Terminal Program
(CSTP) is funding these procurements through the Army's $5 billion
World-Wide Satellite Systems (WWSS) contract vehicle.
The SNAP program includes options for approximately 1,500
terminals and supporting equipment to be deployed in various sizes
and configurations over the next few years, along with up to 30
field support personnel. The company's 2007 investments in capacity
for integration, testing, and deployment of its SwiftLink and
wireless point-to-point deliverables assure timely delivery on
large volume orders that meet customer expectations.
"Our SwiftLink SNAP solution is the newest and most capable VSAT
deployable system available to the Department of Defense," said
Michael Bristol, senior vice president of government solutions for
TCS. "The rapid pace of these funding increments demonstrates TCS'
proven record of providing our customers with robust, scalable
systems, and we expect this demand to continue."
The TCS SwiftLink VSAT systems used to fulfill SNAP program
requirements provide multimedia communications capabilities which
convey encrypted voice, video and imagery data. TCS SwiftLink
products are highly transportable and ruggedized, with a graphical
user interface that facilitates easy set-up and operation. The
modularity and "plug and play" interfaces between all RF and
Baseband configurations inherent in the SwiftLink product line
result in communication solutions tailored to the end-user's
specific needs.
TCS has established a proven track record over the past decade
of providing highly specialized solutions to the Department of
Defense, Special Operations and Intelligence Communities, the
Department of Homeland Security and the Department of State. The
TCS SwiftLink product line meets the critical communications
demands of this elite customer set, no matter where or how they
deploy.
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) engineers
and delivers highly reliable wireless communications technology.
TCS is a leader in wireless text messaging and location-based
technology, including E9-1-1 services and commercial applications
like navigation that use the precise location of a wireless device,
and secure satellite-based communications systems and services.
Customers include leading wireless and VoIP carriers around the
world, cable MSOs, automotive telematics vendors, and agencies of
the U.S. Departments of Defense, State, and Homeland Security. TCS
is one of six primary vendors on a $5 billion Army Worldwide
Satellite Systems Contract vehicle. For more information, visit
www.telecomsys.com.
Except for the historical information contained herein, this
news release contains forward-looking statements as defined within
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities and Exchange Act of 1934, as amended. These
statements are subject to risks and uncertainties and are based
upon TCS' current expectations and assumptions that if incorrect
would cause actual results to differ materially from those
anticipated. Risks include without limitation the possibility that
the delivery order will not be fully funded, the statement that we
expect demand to continue, the possibility that equipment will not
be delivered on time, the prospect that this order may be the
foundation for additional large project wins, the possibility that
large-scale production requirements could impair our ability to
deliver, and those detailed from time to time in the Company's SEC
reports, including the report on Form 10-K for the year ended
December 31, 2007 and Form 10-Q for the quarter ended June 30,
2008.
Existing and prospective investors are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. The Company undertakes no obligation to
update or revise the information in this press release, whether as
a result of new information, future events or circumstances, or
otherwise.
Company Contact: TeleCommunication Systems, Inc. Meredith Allen
410-295-1865 MAllen@telecomsys.com Media Contact: Welz & Weisel
Communications Evan Weisel 703-218-3555 evan@w2comm.com Investor
Relations: Liolios Group, Inc. Scott Liolios 949-574-3860
info@liolios.com
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