ANNAPOLIS, MD, Oct 20, 2010 (MARKETWIRE via COMTEX) —
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(R), 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.
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