September 24, 2008
Army Funds Additional $5.4 Million for TCS MiTT Deliverables
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a leading provider of mission-critical wireless communications, today announced that it has received an additional $5.4 million of funding from the U.S. Army for satellite communications equipment and services to support Military Transition Teams (MiTTs). MiTTs embed and train with Allied forces in the War on Terror and advise the Allied security forces in the areas of intelligence, communications, fire support, logistics and infantry tactics. TCS will provide Army MiTTs with Very Small Aperture Terminals (VSATs) with multimedia communication capabilities to convey encrypted voice, video and imagery data, to train local Afghanistan and Iraq police forces.
Awarded through the Army's World-Wide Satellite Systems (WWSS) contract vehicle, this addition brings the total TCS funded value on the MiTT order to $24 million. MiTT is a three-year delivery order contract through 2010, with a potential total value of over $29 million if all contract options are exercised.
TCS VSAT terminals offer high-speed satellite services for secure transmission of mission-critical data. Available in sizes ranging from 18 inches to 2.0 meters in diameter, the TCS VSAT solutions provide ease of integration, set-up and operation which drastically reduce the amount of time required to secure network connectivity.
The $5 billion WWSS contract vehicle is available to support all federal communications missions, including disaster relief and homeland security efforts. The five-year program is jointly managed by Program Manager Warfighter Information Network-Tactical (PM WIN-T) and Program Management Defense Communications and Army Transmission System (PM DCATS) and is a vehicle for the Commercial SATCOM Terminal Program (CSTP).
The TCS Government Solutions Group began as a systems integrator in 1987. Today, TCS provides engineering, management, and professional services to the public sector and is a leading provider of fixed and deployable communication solutions for government customers and mobile operators requiring high reliability and security, including the U.S. Army, U.S. Air Force, U.S. Navy, Unified Combatant Commands, U.S. Department of State, U.S. Department of Homeland Security, U.S. Secret Service, and various U.S. intelligence agencies.
For more information on TCS VSAT services, visit: http://www.telecomsys.com/government/swiftlink/vsats.cfm
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 possibility that equipment will not be delivered on time, 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.
Media Contacts: TeleCommunication Systems, Inc. Meredith Allen 410-295-1865 [email protected] Welz & Weisel Communications Evan Weisel 703-218-3555 [email protected] Liolios Group, Inc. Geoffrey C. Plank 949-574-3860 [email protected]
SOURCE: TeleCommunication Systems, Inc.