• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

National Technical Systems Wins Five-Year Contract to Test Weapons, Munitions Technology for U.S. Department of Defense

Posted on: Thursday, 8 October 2009, 06:30 CDT

CALABASAS, Calif., Oct. 8 /PRNewswire-FirstCall/ -- National Technical Systems, Inc. (Nasdaq: NTSC) (NTS), a leading provider of engineering and testing services to the defense, aerospace, telecommunications, automotive and high technology markets, announced today that it has been awarded a five-year, Other Transaction Agreement (OTA) contract with maximum potential revenues of $10 million from the U.S. Department of Defense to test and help develop new weapons and ammunition technology. NTS expects to provide approximately $1.67 million of services by early in calendar year 2010 for the first phase of the contract and, pending further Department of Defense approvals, up to $8.33 million of additional services throughout the contract's five-year term.

National Technical Systems Chief Executive Officer William C. McGinnis commented: "This significant new contract with the U.S. Department of Defense demonstrates the confidence the U.S. military has in our services. It also positions National Technical Systems as the leader and primary commercial provider of these types of testing and engineering services for the Armed Services, in partnership with the Department of Defense and consortium members."

The consortium members consist of 120 companies and academic institutions brought together to address the Department of Defense's long range science and technology objectives.

The contract supports the military's Ordnance Technology Initiative titled "Assessment Support of Direct and Indirect Fire Munitions Product Improvements for Insensitive Munitions Performance." The first award is specifically for the U.S. Army but the technology being developed will benefit all the U.S. Armed Forces.

The efforts are focused on five technical areas: high performance rocket propulsion, minimum signature rocket propulsion, blast-fragmenting warheads, anti-armor warheads and large caliber gun propulsion.

About National Technical Systems

National Technical Systems, Inc. is a leading provider of engineering and testing services to the defense, aerospace, telecommunications, automotive and high technology markets. Through a world-wide network of resources, NTS provides full life-cycle product integrity support, offering world class design engineering, compliance, testing, certification, quality registration and program management. For additional information about NTS, visit our website at www.ntscorp.com or call 800-270-2516.

Forward Looking Statements

The statements in this press release that relate to future plans, events or performance, are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining to customer orders, including the possibility of contract cancellations, demand for services and products, development of markets for the companies' services and products and other risks identified in the companies' SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The companies undertake no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding National Technical Systems' business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

Contact: Allen & Caron Jill Bertotti (investors) Jill@allencaron.com Len Hall (media) Len@allencaron.com (949) 474-4300 National Technical Systems, Inc. Aaron Cohen, Vice Chairman (corporate) aaron.cohen@ntscorp.com Raffy Lorentzian, Sr. Vice President, CFO (financial) raffy.lorentzian@ntscorp.com (818) 591-0776

SOURCE National Technical Systems, Inc.

Source: PR Newswire

More News in this Category