ANNAPOLIS, MD, Oct 19, 2010 — TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world leader in high availability and secure mobile communication technology, today announced that it has been awarded a new order with a ceiling value of $9.6 million to provide 3-D terrain mapping software and database models as well as training and exercises to the U.S. Army. This order is initially funded at $5.4 million and will be funded up to a total of $9.6 million if the options are fully exercised through 2011. This order is funded by the Program Executive Office Aviation (PEO AVN) and relates to the continued supply of equipment to the UAS Project Office and the SUAV Product Office.
This award was made under the Army’s $5 billion World-Wide Satellite Systems (WWSS) Indefinite Delivery Indefinite Quantity (IDIQ) contract vehicle in support of the Project Manager for the Warfighter Information Network-Tactical (PM WIN-T). Under the WWSS procurement vehicle, customers may place orders through August 2011 for delivery up to a year thereafter.
“Intelligence, surveillance and reconnaissance have long been the linchpins of strong command and control capabilities for the military,” said Michael Bristol, senior vice president of government solutions for TCS. “TCS provides a wealth of solutions that support these critical strategies in theatres 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, professional services, and highly secure deployable satellite solutions for mission-critical communications. 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 that the order might 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 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.
Company Contact:
TeleCommunication Systems, Inc.
Meredith Allen
410-295-1865
Media Contact:
Welz & Weisel Communications
Evan Weisel
703-218-3555
Investor Relations:
Liolios Group, Inc.
Scott Liolios
949-574-3860
