SYS Technologies Announces $8.0 Million in Follow-On Contracts
13 Août 2007 - 2:00PM
Business Wire
SYS Technologies Inc. (�SYS�) (AMEX:SYS), a leading provider of
information connectivity solutions that enable real-time, complex
decision-making, announced it has been awarded follow-on contracts
from two customers: the U.S. Navy for $7.2 million in tasking and
Volkswagen of America, Inc. for an $800,000, three-year contract.
Cliff Cooke, President and CEO of SYS, said, �Our customers
continue to recognize our excellent performance and customer
service by extending existing contracts and exercising option
years. This customer satisfaction is the strongest possible
reflection on the expertise and dedication of our staff. We believe
these are critical programs, and we are confident our teams will
continue to provide unparalleled support to our customers.� The
U.S. Navy tasking includes two separate awards. The first is a $4.0
million option year on a Navy Space and Naval Warfare System
Command (SPAWAR) contract. SYS will continue to perform assessments
and requirements analyses in support of FORCEnet, the Navy�s
operational construct and architectural framework, and Space and
Electronic Warfare engineering projects. The second is a $3.2
million order from the Naval Sea Systems Command�s (NAVSEA) Naval
Surface Warfare Center Division at Port Hueneme, California, for
technical and management services. This award represents the third
of four option years on the SEAPORT Enhanced Multiple Award
Contract. SYS will continue to provide a broad range of
comprehensive engineering, technical and programmatic support
services. Volkswagen of America, Inc. has awarded SYS an $800,000
three-year follow-on contract to develop and maintain an intranet
site for dealership sales, service and parts personnel.
Volkswagen�s intranet site, www.vwwebsource.com, is a central
reference site that provides extensive, up-to-date information on
current vehicle models and archives of information on previous
models for access by dealership personnel throughout the United
States and Canada. SYS works closely with corporate Volkswagen
personnel to create assets and post data to the site on an
as-needed basis. Updates are implemented, often daily, based on
changes to product information. About SYS Technologies SYS
(AMEX:SYS) is a leading provider of information connectivity
solutions that capture, analyze and present real-time information
to our customers in the Department of Defense, Department of
Homeland Security, other government agencies and to commercial
companies. Using interoperable communications software, sensors,
digital video broadcast and surveillance technologies, wireless
networks, network management, decision-support tools and
Net-centric technologies, our technical experts enhance complex
decision-making. We also provide solution lifecycle support with
program, financial, test and logistical services and training.
Founded in 1966, SYS is headquartered in San Diego and has
principal offices in California and Virginia. For additional
information, visit www.systechnologies.com. Notice Regarding
Forward-Looking Statements This press release includes
�forward-looking statements� within the meaning of section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements other
than statements of historical fact included in this press release
regarding the Company�s strategies, plans, objectives,
expectations, and future operating results are forward-looking
statements. Although SYS believes that the expectations reflected
in such forward-looking statements are reasonable at this time, it
can give no assurance that such expectations will prove to have
been correct. Actual results could differ materially based upon a
number of factors including, but not limited to, the state of
economy, competition, unanticipated business opportunities,
availability of financing, market acceptance, government
regulation, dependence on key personnel, limited public markets and
liquidity, shares eligible for future sale, continuation and
renewal of contracts and other risks that may apply to the Company,
including risks that are disclosed in the Company�s Securities and
Exchange Commission filings.
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