|TeleCommunication Systems Receives $91 Million Delivery Order from U.S. Army for SNAP Deployable Satellite Systems Sustainment|
ANNAPOLIS, Md., Oct. 19, 2015 /PRNewswire/ — TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world leader in secure and highly reliable wireless communications, today announced that it has received a delivery order from the U.S. Army for sustainment of the AN/TSC-198A SNAP (Secret Internet Protocol Router (SIPR) and Non-classified Internet Protocol Router (NIPR) Access Point), Very Small Aperture Terminals (VSATs). The initial funded contract value is $18.6 million for the period from September 2015 through September 2018, and the ceiling contract value, including funded and unfunded amounts, is nearly $91 million over the next three years, if all options are exercised.
TCS Government Solutions Group President Michael Bristol said: “DoD needed an experienced and capable systems integrator for sustainment of SNAP VSAT terminals, and TCS has fielded and supported hundreds of SNAP terminals. TCS is committed to deliver mission critical communications support to the military.”
TCS’ Government Solutions Group has a 28-year track record as a proven, trusted provider of communication technology solutions to the government’s technical challenges, under conditions that demand the highest level of reliability, availability and security. TCS satellite communications experience includes standards-compliant design as well as technically advanced production, deployment, installation, operation, service and maintenance. TCS’ dedicated Operations and Maintenance division currently supports thousands of systems around the globe, ensuring that products and turnkey solutions are supported and available in their intended environments. Learn more at TCS Professional Services.
About TeleCommunication Systems, Inc.
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, that the contract will not be fully funded 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, 2014 and on Form 10-Q for the quarter ended June 30, 2015.
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