TeleCommunication Systems Receives $3.3 Million in Additional Funding From U.S. Army for Deployable Satellite Systems Equipment
October 20 2010 - 6:30AM
Marketwired
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world
leader in highly reliable and secure mobile communication
technology, today announced that it has received additional
incremental funding of $3.3 million from the U.S. Army for up/down
converters, satellite modems, multiband manpack radios, quad band
satellite emulators, and other support equipment. 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. These awards are
exercised options on existing Delivery Orders issued by the U.S.
Army Communications-Electronics Life Cycle Management Command
(CECOM LCMC). Under the WWSS procurement vehicle, customers may
place orders through August 2011 for delivery up to a year
thereafter.
"TCS is dedicated to delivering deployable communications
solutions that exceed today's most stringent government satellite
requirements. Our men and women in uniform deserve to have the most
reliable communications systems at their fingertips," said Michael
Bristol, senior vice president and general manager of government
solutions for TCS. "Our team has over a decade of experience
providing deployable communications solutions used to support
strategic military operations undertaken by the Army all around the
world."
TCS has established a proven track record for more than two
decades as a trusted provider of communication technology solutions
to solve the government's toughest technical challenges, under
conditions that demand the highest level of reliability,
availability and security. To ensure mission continuity, TCS offers
a family of deployable communications solutions, SwiftLink®, and
complete end-to-end managed services for converged (IP-based)
voice, video and data solutions to organizations requiring
seamless, highly secure connectivity between fixed sites and remote
operations.
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) is a world
leader in highly reliable and secure mobile communication
technology. TCS infrastructure forms the foundation for market
leading solutions in E9-1-1, text messaging, commercial location
and deployable wireless communications. TCS is at the forefront of
new mobile cloud computing services providing wireless applications
for navigation, hyper-local search, asset tracking, social
applications and telematics. Millions of consumers around the world
use TCS wireless apps as a fundamental part of their daily lives.
Government agencies utilize TCS' cyber security expertise and
professional services. Headquartered in Annapolis, MD, TCS
maintains technical, service and sales offices around the
world.
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 contract options will not be exercised, or that the total value
of the order will not be fully funded, and those detailed from time
to time in the Company's SEC reports, including the reports on Form
10-K for the year ended December 31, 2009, and on Form 10-Q for the
quarter ended June 30, 2010.
Existing and prospective investors are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. The Company undertakes no obligation to
update or revise the information in this press release, whether as
a result of new information, future events or circumstances, or
otherwise.
Company Contact: TeleCommunication Systems, Inc. Meredith
Allen 410-295-1865 Email Contact Media Contact: Welz &
Weisel Communications Evan Weisel 703-218-3555 Email Contact
Investor Relations: Liolios Group, Inc. Scott Liolios
949-574-3860 Email Contact
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