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Wednesday Jan 27, 2010
Department of Homeland Security (DHS) Secretary Janet Napolitano today announced that U.S. Customs and Border Protection (CBP) is significantly increasing the comprehensiveness and preciseness of information gathered on shipments of cargo entering United States sea ports by enforcing the Importer Security Filing and Additional Carrier Requirements interim final rule.
Secretary Napolitano commented, “Effective homeland security requires strengthening our capabilities to detect and deter potential acts of terrorism at our land, air and sea ports.”
Napolitano continued, “Collecting detailed information about cargo shipped to the United States before it arrives will enhance the effectiveness of our screening operations at sea ports around the nation.”
Secretary Napolitano Announces Enhanced Screening Measures For Cargo Arriving at U.S. Sea Ports
Department of Homeland Security (DHS) Secretary Janet Napolitano today announced that U.S. Customs and Border Protection (CBP) has begun enforcement of the Importer Security Filing and Additional Carrier Requirements interim final rule—significantly increasing the scope and accuracy of information gathered on shipments of cargo arriving by sea into the United States and bolstering DHS’ layered enforcement strategy to protect against terrorism and other crimes at U.S. ports of entry.
“Effective homeland security requires strengthening our capabilities to detect and deter potential acts of terrorism at our land, air and sea ports,” said Secretary Napolitano. “Collecting detailed information about cargo shipped to the United States before it arrives will enhance the effectiveness of our screening operations at sea ports around the nation.”
CBP will begin graduated enforcement of the rule—which requires importers to provide specific information on their cargo prior to arrival in the United States—today, following a one-year informed compliance period.
The Importer Security Filing and Additional Carrier Requirements—commonly known as “10+2″ in reference to the data required under the rule—are a result of the SAFE Port Act of 2006, which mandated the development of a regulation to require additional data prior to a vessel’s arrival at a U.S. port of entry.
For more information regarding the Importer Security Filing and Additional Carrier Requirements interim final rule go to www.cbp.gov/isf.
Optex Systems Holdings, Inc. today announced financial results for the fiscal year ended September 27, 2009, and the Company is pleased to report revenues increased significantly in fiscal 2009 over fiscal 2008.
Optex Systems, a manufacturer of optical sighting systems and assemblies for the Department of Defense and large defense contractors, attributes increased revenues to growing demand for the Company’s Periscope line, as a result of additional orders from General Dynamic Land Systems, as well as the commencement of direct international sales.
Danny Schoening, COO of the Company, commented, “Optex Systems delivered substantial improvement in its operating results in fiscal 2009. As compared to our prior year performance, we have increased our EBITDA by approximately $2.7 million. This increase is the direct result of increased revenue, higher gross margins and lower general and administrative costs.”
Defense Stocks News – Optex Systems Reports Record Year-End Results
RICHARDSON, Texas – January 12, 2010 – Optex Systems Holdings, Inc. (OTCBB: OPXS.OB), a manufacturer of optical sighting systems and assemblies for the Department of Defense and large defense contractors, is pleased to report the Company’s financial results for the fiscal year ended September 27, 2009.
Revenues increased significantly in fiscal 2009 over fiscal 2008. For the fiscal year ended September 27, 2009 revenues increased by $7.6 million, or 37.8%, over the prior period to $27.6 million from $20 million, respectively. The increase in revenues can be attributed to increased demand for the Company’s Periscope line attributable to additional orders from General Dynamic Land Systems, as well as the commencement of direct international sales. In fiscal 2009, the net loss was reduced by $4.8 million to a net loss of $24,155 in the current fiscal year from a net loss of $4,831,952 in the same period in the prior year.
During the fiscal year ended September 27, 2009, the Company recorded cost of goods sold of $24.8 million as opposed to$18.2 million during the previous year, an increase of $6.6 million. This increase in cost of goods sold was primarily the result of increased revenue in addition to increased non-cash, intangible amortization charges resulting from the acquisition of Optex Systems Inc. (Texas) assets from Irvine Sensors Corporation on October 14, 2008. In fiscal 2009, intangible amortization expense was $2 million and is scheduled to decline significantly to $1 million in fiscal 2010.
Danny Schoening, COO of the Company, commented, “Optex Systems delivered substantial improvement in its operating results in fiscal 2009. As compared to our prior year performance, we have increased our EBITDA by approximately $2.7 million. This increase is the direct result of increased revenue, higher gross margins and lower general and administrative costs. Given the continued success of our turnaround efforts, we expect to improve operating results over the next 12 months as our product mix shifts towards more profitable programs, and we continue to streamline our production and general and administrative areas. In addition, we intend to leverage our strengths to identify new growth areas for the business, both for existing and new customers. Finally, we identified and strategically partnered with other industry players to jointly pursue exciting new bid opportunities that we hope to win in 2010.”
OSI Systems, Inc. a Hawthorne, California-based company focused on specialized electronics and services, today announced that it has been awarded, through its Rapiscan division, a 10-year contract from the Puerto Rico Ports Authority (“PRPA”) to provide a complete turn-key solution resulting in the scanning of all containerized inbound cargo at the Port of San Juan.
OSI Systems CEO Deepak Chopra stated, “The cargo scanning initiative at the Port of San Juan represents not only a new business model for the Company but a new model in port security as a first-of-its-kind program which would result in the scanning of all inbound containers at high throughput and low cost.”
Ajay Mehra, President of Rapiscan, added, “We specifically targeted the Port of San Juan for this project as one in which we are able to showcase the type of comprehensive, turn-key, custom-tailored solution that is uniquely available from the Company’s Screening Solution business, S2 Global.”
OSI Systems (NASDAQ: OSIS) Awarded 10-Year Contract for Cargo Turn-Key Scanning Solution by Puerto Rico Ports Authority
New Business Model for OSI Systems – Fee Per Scan Turn-Key Solution includes Equipment, Operation and Maintenance Services
HAWTHORNE, Calif – January 7, 2010 – OSI Systems, Inc. (NASDAQ: OSIS), a vertically-integrated provider of specialized electronics and services, today announced that it has been awarded, through its Rapiscan division, a 10-year contract from the Puerto Rico Ports Authority (“PRPA”) to provide a complete turn-key solution resulting in the scanning of all containerized inbound cargo at the Port of San Juan. Under the terms of the contract, which includes two renewal options for an additional five years each, Rapiscan will provide cargo scanning services using multiple Rapiscan Eagle® high-energy X-ray systems at various locations at the Port of San Juan. The Port of San Juan is a major cargo hub in the Caribbean, handling nearly 1.7 million TEU’s (Twenty-foot Equivalent Units), including both inbound and outbound, in 2008.
OSI Systems CEO Deepak Chopra stated, “The cargo scanning initiative at the Port of San Juan represents not only a new business model for the Company but a new model in port security as a first-of-its-kind program which would result in the scanning of all inbound containers at high throughput and low cost. To fulfill the PRPA’s stringent technical and logistical requirements for this ground-breaking project, we have designed a fast, efficient and comprehensive solution based on our operations expertise and our state-of-the-art Rapiscan Eagle® high energy X-ray systems through the Company’s newly initiated Screening Solution Business, S2 Global.”
“Moreover,” Mr. Chopra continued, “the S2 business substantially expands the size of the market we address, by opening new opportunities with customers who are not in the market for outright ownership of scanning equipment, or are otherwise seeking the efficiencies and operational expertise offered by our turn-key solutions team. As more ports around the world implement U.S.-mandated cargo inspection processes, we expect opportunities for our Screening Solution business to grow. We believe this newly-added business model will, in the long run, significantly enhance our opportunities and financial results in our Security Division.”
Ajay Mehra, President of Rapiscan, added, “We specifically targeted the Port of San Juan for this project as one in which we are able to showcase the type of comprehensive, turn-key, custom-tailored solution that is uniquely available from the Company’s Screening Solution business, S2 Global. The S2 business, led by Jonathan Fleming, former COO of the U.S. Transportation Security Administration, is an important addition to our historically technology-centric, manufacturing-driven business model in that it is a pure service model leveraging our in-house portfolio of leading-edge scanning technologies. This services business is expected to generate comparatively higher margins than equipment sales, and provides a longer stream of revenues for a given sale.”
Director of the Puerto Rico Ports Authority, Mr. Alvaro Pilar-Vilagrán, stated that “the Puerto Rico Ports Authority is implementing this unprecedented scanning program as part of Governor Luis Fortuño’s efforts to reduce crime. The program aims to eliminate the import of drugs, illegal weapons and other contraband into Puerto Rico, while affording the Ports Authority a mechanism to fight tax evasion. The turn-key scanning solution proposed by the S2 division of Rapiscan prevailed in a competitive process as the most effective and efficient means of achieving the PRPA’s requirements. We believe this program will set the standard in port security, and creates a new model for public-private cooperation that achieves rapid implementation with minimum investment by the taxpayers.”
About OSI Systems, Inc.
OSI Systems, Inc. is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense and aerospace industries. We combine more than 30 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end product markets. For more information on OSI Systems Inc. or any of its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G
This press release contains 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. Such statements include information regarding the company’s expectations, goals or intentions about the future, including, the Company’s contract to provide an integrated turn-key solution through its wholly owned operational subsidiary, S2 Global Inc. The actual results may differ materially from those described in or implied by any forward-looking statement. In particular, the timing, and delivery of the inspection systems may not ultimately remain in line with the company’s current expectations. Other important factors are set forth in the Securities and Exchange Commission filings OSI Systems, Inc. All forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
ICOP Digital, Inc. today announced that Laura Owen, President and COO of ICOP, has been selected to serve on the Joint U.S.-Saudi Business Dialogue Council, which will meet quarterly in 2010, with the inaugural meeting scheduled to take place on January 24.
The council, which is comprised of U.S. and Saudi business executives, was created to develop a “think-tank” that will provide intellectual input into trade policy decisions, improved access to decision-makers through informal initiatives, and insightful commentary on policy proposals that are likely to affect industry and corporate performance. Furthermore, the council will examine opportunities for joint collaboration, as well as debate areas of concern for both sides, and develop mechanisms to effectively address these concerns.
Commenting on her recent appointment, Ms. Owen stated, “It is a tremendous honor to have been selected to serve as a part of the Joint U.S.-Saudi Business Council. It is important that we build strong relationships with the Kingdom of Saudi Arabia in support of our commercial interests for our long-term success in this important market.”
ICOP Executive Appointed to US Saudi Business Council Inaugural Meeting Scheduled for Jan 24 in Saudi Arabia
LENEXA, KS–(Marketwire – 01/19/10) – ICOP Digital, Inc. (NASDAQ: ICOP), an industry-leading company engaged in advancing digital surveillance technology solutions, today announced that Laura Owen, President and COO of ICOP, has been selected to serve on the Joint U.S.-Saudi Business Dialogue Council, which will meet quarterly in 2010.
The inaugural meeting is scheduled for January 24, and will take place at the Council of Saudi Chambers of Commerce, in Riyadh, Saudi Arabia. The main objective of the Council is to create a “think-tank” of American and Saudi business executives that will provide intellectual input into trade policy decisions, improving access to decision-makers through informal initiatives, and speaking out for or against policy proposals that are likely to affect industry and corporate performance. The Council will discuss opportunities for joint collaboration, exchange views on areas of concern to both sides, and come up with a mechanism to develop recommendations to effectively address these concerns.
The program will be opened by leadership from Saudi Arabia, and the Honorable Jim Smith, U.S. Ambassador to Saudi Arabia. Ms. Holly Vineyard, Deputy Assistant Secretary for Market Access & Compliance, U.S. Department of Commerce, will also participate in the event.
Ms. Owen stated, “It is a tremendous honor to have been selected to serve as a part of the Joint U.S.-Saudi Business Council. It is important that we build strong relationships with the Kingdom of Saudi Arabia in support of our commercial interests for our long-term success in this important market.”
Company executives are returning to Saudi Arabia this month to meet with Ministry of the Interior officials regarding the current installation of ICOP units across the country, in addition to discussions for expansion of the project. The ICOP Model 20/20�-W digital in-car video system serves as the core of the solution of the Saudi installation, and is integrated with additional technologies, including license plate recognition (LPR). When the EyeNet LPR has a “hit,” it triggers the ICOP Model 20/20-W to begin recording audio and video. In addition to the existing in-car video solutions installed, Saudi security forces have also installed and been trained on the ICOP iVAULT MMS(TM) (Media Management System) server solution throughout the country.
About ICOP Digital, Inc.
ICOP Digital, Inc. (NASDAQ:ICOP – News) is a leading provider of in-car video and mobile video solutions for Law Enforcement, Fire, EMS, Military, and Transportation markets, worldwide. ICOP solutions help the public and private sectors mitigate risks, reduce losses, and improve security through the live streaming, capture and secure management of high quality video and audio. www.ICOP.com
Forward-Looking Statements
This document contains forward-looking statements. You should not rely too heavily on forward-looking statements because they are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. The Company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. This, plus other uncertainties and factors described in our most-recent annual report and our most-recent prospectus filed with the Securities and Exchange Commission, could materially affect the Company and our operations. These documents are available electronically without charge at www.sec.gov.
The following article highlights Alternative Fuel Technology, LLC (AFT), a wholly-owned subsidiary of Alternative Fuel Technologies, Inc. (Pink Sheets: AFTC) announcement today that the Company has been selected for a new U.S. Army Phase 1 SBIR award entitled: “Ultra High Pressure Jet Propellant-8 (JP-8) Fuel Injection System.”
The Department of Defense’ (DoD) Small Business Innovation Research (SBIR) program funds early stage research and development projects and small technology companies. Key objectives of this contract are the design, development and demonstration of an intensified, lube oil actuated common rail injection system capable of producing peak injection pressures of more than 40,000 psi (2800 bar).
“This latest contract was awarded to the Company because of our extensive experience with this type of fuel injection system,” saidJames McCandless, Chief Executive Officer of Alternative Fuel Technologies, Inc. “It was awarded to us under the DoD’s SBIR program, which funds early stage research and development projects and small technology companies. The SBIR program was funded at approximately $1.2 billion in FY2009, and is part of a larger, federal SBIR program, which is administered by 12 federal agencies and receives more than $2 billion in funding.”
Currently, AFT is also engaged in several other advanced fuel system projects for the U.S. Army including a Phase 2 contract, valued at an estimated $700,000, for the redesign of a commercial diesel common rail pump to lower wear to acceptable levels.
Alternative Fuel Technologies, Inc. Awarded New Phase 1 U.S. Army Contract
REDFORD, Mich., Jan. 18 /PRNewswire-FirstCall/ — Alternative Fuel Technology, LLC (AFT), a wholly owned subsidiary of Alternative Fuel Technologies, Inc. (Pink Sheets: AFTC) announced today that the Company has been selected for a new U.S. Army Phase 1 SBIR award entitled: “Ultra High Pressure Jet Propellant-8 (JP-8) Fuel Injection System.”
“This latest contract was awarded to the Company because of our extensive experience with this type of fuel injection system,” saidJames McCandless, Chief Executive Officer of Alternative Fuel Technologies, Inc. “It was awarded to us under the DoD’s SBIR program, which funds early stage research and development projects and small technology companies. The SBIR program was funded at approximately $1.2 billion in FY2009, and is part of a larger, federal SBIR program, which is administered by 12 federal agencies and receives more than $2 billion in funding.”
Key objectives of this contract are the design, development and demonstration of an intensified, lube oil actuated common rail injection system capable of producing peak injection pressures of more than 40,000 psi (2800 bar). The system must also be readily adaptable to Army engines. A key design feature of this concept will be the use of AFT’s advanced high pressure Dimethyl Ether (DME) injection pump modified to pump engine lube oil to drive the new injector.
AFT is also engaged in several other advanced fuel system projects for the U.S. Army including a Phase 2 contract valued at more than $700,000 (final award being negotiated) for the redesign of a commercial diesel common rail pump to lower wear to acceptable levels.
The Army uses JP-8 jet fuel for all of its equipment from helicopters to diesel powered trucks and generators. JP-8 presents durability and reliability problems for many types of commercial fuel injection systems.
As part of its SBIR program, the DoD issues an SBIR solicitation three times a year, describing its R&D needs and inviting R&D proposals from small companies — firms organized for profit with 500 or fewer employees, including all affiliated firms. Companies apply first for a six-month to nine-month Phase 1 award of $70,000 to $100,000 to test the scientific, technical, and commercial merit and feasibility of a particular concept. If Phase 1 proves successful, the company may be invited to apply for a two-year Phase 2 award of $500,000 to $750,000 to further develop the concept, usually to the prototype stage.
The Company is uniquely qualified for this project, as Mr. McCandless was a pioneer in this type of diesel fuel injection system.
About Alternative Fuel Technologies, Inc.
Alternative Fuel Technology Inc. is a research & development organization engaged in the design, development and prototype manufacturing of advanced fuel systems for use with a new alternative fuel — dimethyl ether (DME). The Company has developed practical, low-cost fuel injection equipment for DME fueled vehicles and currently provides complete DME fuel systems for testing and research purposes in addition to retrofit systems that can be used with most diesel engines. The Company’s ultimate goal is series production of DME fuel systems for the global automotive market by 2011. For more information, visit http://www.altfueltechnology.com
About DME:
DME is a new ultra-clean diesel fuel replacement that can be produced from abundant resources. These include natural gas, landfill methane, coal and biomass. At current oil prices, DME can be produced and distributed at less than 1/2 the cost of conventional fuel. When burned in a diesel engine, all soot emissions are eliminated and NOx emissions are lowered dramatically without the use of expensive exhaust aftertreatment devices.
Safe Harbor Statement: Statements contained in this release, which are not historical facts, including statements about plans and expectations regarding business areas and opportunities, acceptance of new or existing businesses, capital resources and future business or financial results are “forward-looking” statements. You should not place undue reliance on these forward-looking statements. Such forward-looking statements are subject to risks and uncertainties, including, but not limited to, customer acceptance of our products, our ability to raise capital to fund our operations, our ability to develop and protect proprietary technology, government regulation, competition in our industry, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in our expectations, except as required by law.
The following video introduces the ICOP Model 20/20®-W is the leading digital in-car video recorder system for law enforcement, recording high quality video in the vehicle, capable of live streaming video to other first responder vehicles and headquarters. The ICOP Model 20/20-W is loaded with features that can be found in no other in-car video system.
Commenting on the popularity of the ICOP Model 20/20®-W, Dave Owen, Chairman and CEO of ICOP Digital, stated “We are particularly proud that ICOP has won these coveted metro agencies as new customers following what was their in-depth assessment of the ICOP Model 20/20-W in head-to-head field tests with other leading competitive offerings; it is this type of welcomed scrutiny that helps to validate the fact that the superior performance, functionality and user benefits of the ICOP Model 20/20-W simply cannot be matched.
Owen continued, “Moreover, with the emergence of ICOP LIVE™ as an enabling technology of choice for empowering law enforcement with real time situational awareness through live streaming of audio and video to and from patrol cars, the competitive differentiation and enhanced value proposition of the ICOP Model 20/20-W became even more pronounced when comparing ICOP’s solution to other competitive alternatives.”
A leading global investing and industry portal for the defense and security sector, www.HomelandDefenseStocks.com (HDS), a subdivision of Investorideas.com, recently examined the top trading stocks within the sector. The homeland security stocks mentioned include: American Science and Engineering (NasdaqGS: ASEI), Analogic Corporation (NasdaqNM: ALOG), ICx Technologies, Inc. (NGM: ICXT), OSI Systems, Inc. (NasdaqGM: OSIS), L-3 Comm Holdings Inc. (NYSE: LLL).
Leading the group is American Science and Engineering (NasdaqGS: ASEI), which recently announced that it has received a $39.7 million order for cargo X-ray inspection systems from an unnamed government agency to screen cargo and vehicles for explosive threats and contraband at strategic border crossings.
Anthony Fabiano, President and CEO of American Science and Engineering said ”We are pleased to provide this valued client with additional cargo systems to efficiently inspect cargo at border crossings for comprehensive detection of threats and contraband,” Fabiano continued, “AS&E’s cargo X-ray inspection systems utilize advanced technologies to detect a broad range of threats and contraband, including drugs, weapons, and plastic explosives.”
Homeland Security Stocks Sector Close-Up; American Science and Engineering, Inc. (NASDAQ: ASEI) Announces $39.7 Million Order for Cargo X-ray Inspection Systems
POINT ROBERTS, Wash., DELTA, B.C. – January 4, 2010 - http://www.HomelandDefenseStocks.com, a leading global investor and industry portal for the defense and security sector, within www.Investorideas.com, reports on Homeland Security stocks trading for January 4 th. American Science and Engineering, Inc. (NASDAQ: ASEI) traded up on news of a $39.7 Million order for its Cargo X-ray Inspection Systems.
Homeland Security stocks trading as of January 4th, 2009:
American Science and Engineering (NasdaqGS: ASEI) trading at $79.19, up $ 3.35 (4.42%) 1:54pm ET, with a high of $80.80.
Analogic Corporation (NasdaqNM: ALOG) trading at $38.06, down $ 0.45 (1.17%) 1:42pm ET, with a high of $39.05
ICx Technologies, Inc. (NGM: ICXT) trading at $8.08, down $1.44 (15.13%) 1:58pm ET, with a high of $9.25
OSI Systems, Inc. (NasdaqGM: OSIS) trading up at $27.71, up $ 0.43 (1.58%) 1:58pm ET
L-3 COMM HLDGS INC (NYSE: LLL) trading at $87.53, up $ 0.58 (0.67%) 2:00pm ET
bAmerican Science and Engineering, Inc. Receives $39.7 Million Order for its Cargo X-ray Inspection Systems
Cargo X-ray Inspection Systems to Scan for Explosive Threats and Contraband at Strategic Border Crossings
BILLERICA, Mass. – American Science and Engineering, Inc. (AS&E®) (NASDAQ: ASEI), a leading worldwide supplier of innovative X-ray detection solutions, announced today that it has received a $39.7 million order for cargo X-ray inspection systems from an unnamed government agency to screen cargo and vehicles for explosive threats and contraband at strategic border crossings.
“We are pleased to provide this valued client with additional cargo systems to efficiently inspect cargo at border crossings for comprehensive detection of threats and contraband”
“We are pleased to provide this valued client with additional cargo systems to efficiently inspect cargo at border crossings for comprehensive detection of threats and contraband,” said Anthony Fabiano, President and CEO. “AS&E’s cargo X-ray inspection systems utilize advanced technologies to detect a broad range of threats and contraband, including drugs, weapons, and plastic explosives.”
Available in a variety of configurations, AS&E’s cargo inspection systems employ highly advanced detection technologies for the inspection of cars, vans, and trucks, as well as palletized cargo, and air and sea cargo containers.
About AS&E®
American Science and Engineering, Inc. (AS&E) is the leading worldwide supplier of innovative X-ray inspection systems. With over 50 years of experience in developing advanced X-ray security systems, the Company’s product line utilizes a combination of technologies, including patented Z Backscatter™ technology, Radioactive Threat Detection (RTD), high energy transmission and dual energy transmission X-ray. These technologies offer superior X-ray threat detection for plastic explosives, plastic weapons, liquid explosives, dirty bombs and nuclear devices. AS&E’s complete range of products include cargo inspection systems for port and border security, baggage screening systems for facility and aviation security, and personnel and passenger screening systems. AS&E systems protect high-threat facilities and help combat terrorism and trade fraud, drug smuggling, weapon smuggling, and illegal immigration and people smuggling. AS&E customers include leading government agencies, border authorities, military bases, airports and corporations worldwide, including the U.S. Department of Homeland Security (DHS), U.S. Department of Defense (DoD), U.S. Customs and Border Protection (CBP), North Atlantic Treaty Organization (NATO), HM Revenue & Customs (U.K.), Hong Kong Customs, and Abu Dhabi Customs. For more information on AS&E products and technologies, please visitwww.as-e.com.
Safe Harbor Statement. The foregoing press release contains statements concerning AS&E’s financial performance, markets and business operations that may be considered “forward-looking” under applicable securities laws. AS&E wishes to caution readers of this press release that actual results might differ materially from those projected in any forward-looking statements. Factors which might cause actual results to differ materially from those projected in the forward-looking statements contained herein include the following: significant reductions, delays or cancellations (in full or in part) in procurements of the Company’s systems by the United States and other governments; disruption in the supply of any source component incorporated into AS&E’s products; litigation seeking to restrict the use of intellectual property used by the Company; limitations under certain laws on the Company’s ability to protect its own intellectual property; potential product liability claims against the Company; global political trends and events which affect public perception of the threat presented by drugs, explosives and other contraband; global economic developments and the ability of governments and private organizations to fund purchases of the Company’s products to address such threats; the potential insufficiency of Company resources, including human resources, capital, plant and equipment and management systems, to accommodate any future growth; technical problems and other delays that could impact new product development and the Company’s ability to adapt to changes in technology and customer requirements; competitive pressures; lengthy sales cycles both in United States government procurement and procurement abroad; and future delays in federal funding. These and certain other factors which might cause actual results to differ materially from those projected are detailed from time to time in AS&E’s periodic reports and registration statements filed with the Securities and Exchange Commission, which important factors are incorporated herein by reference. AS&E undertakes no obligation to update forward looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes in future operating results, financial condition or business over time. Readers are further advised to review the “Risk Factors” set forth in the Company’s Annual Report on Form 10-K, which further detail and supplement the factors described in this Safe Harbor Statement. Among other disclosures, the Risk Factors disclose risks pertaining to that portion of the Company’s business that is dependent on United States government contracting as well as international customers. As a contractor with the United States government, a significant number of the Company’s government contracts may be terminated at the government’s discretion.
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Friday Jan 15, 2010
Scott Sacknoff, manager of the SPADE® Defense Index for www.HomelandDefenseStocks.com (HDS), a leading global investor and industry portal for the defense and security sector, a subdivision of Investorideas.com, provides security industry commentary for interested defense stocks investors.
Sacknoff states that although it has been a tough year for aerospace and defense investments and for the first time in a decade it’s likely the sector won’t outperform the broader market, a 20% sector gain in 2009 is still possible.
The full context of the article can be found here.
Homeland Defense Stocks Commentary from Scott Sacknoff, Manager of the SPADE® Defense Index
POINT ROBERTS, Wash., DELTA, B.C. – December 7, 2009 – www.HomelandDefenseStocks.com (HDS), a leading global investor and industry portal for the defense and security sector, within Investorideas.com, provides interested defense stocks investors with sector commentary from Scott Sacknoff, manager of the SPADE® Defense Index.
The perception is that it’s been a tough year to be an investor in aerospace and defense. Yet even though for the first time in a decade it’s likely the sector won’t outperform the broader market, a 20% gain for the sector in 2009 is still possible.
With just a month to go in the year, the A&D sector has failed (so far) to break out of the trend of moving as the broader market moves. Even President Obama’s primetime speech calling for 30,000 more troops to head to the Afghan region has failed to spark a rush of investors into the sector. Overall though, the past month has seen some gains in performance and an increasing number of analysts being more positive about the sector.
There was little in the speech that provided insight into the strategic changes in defense philosophy and future spending plans that will emerge from the 2010 Quadrenniel Defense Review however it did call for the addition of $30 billion and 30,000 troops for the Afghan-region effort while highlighting some of the budgetary pressures that he faces. Combined with some recent news and “trial balloons from Congress” the past month has given us some things to ponder about when identifying the direction of, and the factors that will influence the business and investment proformance of the sector — for the next month, the next year, and the next several years.
1. The Concept of a War Tax: Congress in late November floated the concept of a special tax on high-income Americans to help pay for the wars in Iraq and Afghanistan. When discussed on CNBC it was pointed out that this is not a new concept, has been done in the past, and that it presents an interesting challenge to those who want to support our troops yet are against new taxes.
2. The bad press concerning the launch of Boeing’s 787 Dreamliner aircraft has finally been supplanted by positive news focused on the anticipated first test flight, scheduled to take place most likely the week of December 14th but before the end of the month. Next year should see a shift from R&D to production and enable companies with commercial exposure to this program to begin recording billions in backlogged revenues.
3. The growing threats in Asia and the Middle East continue — Unlike prior “post-war” periods when defense budgets declined significantly, comparing today’s climate with that after the Cold War or Vietnam is folly. Military and defense needs will still exist after 2011/2012 when the Afghan and Iraq pullouts are proposed to be completed. In fact, if one looks at the news items on page 2 related to Iran’s nuclear expansion plans and China’s expanding cyberterrorism activities, calls for offensive weapons in space, and increasing naval capacities, a number of possible conflict scenarios can easily be seen….and this assumes that the violence associated with Islamic fundamentalism has been resolved.
4. As highlighted in the president’s speech, the vice that keeps defense spending in check is the economy and the national debt. Between now and 2013, it is likely that improvements in the U.S. economy and an expansion that creates jobs, leads to economic growth, and improves the tax revenue stream will relieve some pressure in the budget. Similary, the government relief programs have yet to be played out and the total cost may still be less than forecast once private companies repay the government. By the pullout in FY-12/FY-13, we’ll know more about our economic situation and the impact it’ll have on discretionary spending for the military. Until then though, future budget pressures are a risk although it appears that the FY- 11 and FY-12 budget levels appear stable.
ICOP Digital, Inc, a worldwide leader in providing mobile solutions and in-car surveillance equipment for Law Enforcement, Fire, EMS, Military, and Transportation announced today promising fourth quarter results and increasing sales for the third consecutive quarter. The company credits strong customer loyalty with an average 81% re-order rate from existing customers engaged in fleet deployments of the ICOP Model 20/20�-W and the ICOP 20/20 VISION.
Dave Owen, Chief Executive Officer at ICOP stated “The list of accomplishments for 2009, and our upward trend in sales, are very encouraging, especially in this challenged economy,” Owen continued, “we have seen many successes in 2009 in what has been one of the toughest economic environments many of us have ever seen. We are very optimistic about the new year and our opportunities for continued growth and success in 2010.”
Below are some of the highlights from the corporate update, following preliminary review of its 2009 yearend financial and operational results, the full text of the article can be found here.
ICOP Fourth Quarter Sales up for Third Consecutive Quarter
2010 Looking Strong
LENEXA, KS–(Marketwire – 01/07/10) – ICOP Digital, Inc. (NASDAQ:ICOP – News), an industry-leading company engaged in advancing digital surveillance technology solutions, today issued a corporate update, following preliminary review of its 2009 yearend financial and operational results, and commented on its outlook for the current year.
During the last 12 months, the Company reported several significant developments:
Key Operational Highlights
�
– Sales for Q4 2009 are expected to exceed Q4 sales for 2008.
– The percentage of purchase orders received from existing customers
engaged in fleet deployments of the ICOP Model 20/20�-W was approximately
81%. Based on the estimated number of current customer patrol cars yet to
be equipped with ICOP’s digital surveillance solution, potential future
sales to the Company’s existing customer base is an estimated $100 million.
– ICOP’s international sales in 2009 to Saudi Arabia and Mexico
continued to expand with additional orders expected in 2010, including the
opening of new markets abroad.
– The Company learned in the fourth quarter that its patent application
for video streaming was allowed by the United States Patent and Trademark
Office.
– On July 15, 2009, the Company entered into an agreement with JPS
Communications Inc., a wholly owned subsidiary of Raytheon Company, and
announced Raytheon’s first sale to the 88th MP Detachment in Camp Zama,
Japan on October 1, 2009.
QUARTER OVER QUARTER INCREASE IN SALES FOR 2009
The Company expects to report quarter over quarter gains in sales for the fourth quarter, for the third consecutive quarter. ICOP continues to enjoy strong customer loyalty with an average 81% re-order rate from existing customers engaged in fleet deployments of the ICOP Model 20/20�-W and the ICOP 20/20 VISION(TM). Stimulus funds are beginning to flow to agencies, as demonstrated by some of the announced sales in 2009, including Billings, Montana, among others. Stimulus funds are expected to continue into 2010. ICOP also realized significant rewards as a result of some of its state contracts in 2009, including nearly $429,290 from its state contract in Utah, with five of those sales closing in the fourth quarter.
PENETRATING INTERNATIONAL MARKETS
In March of 2009, the Company announced a contract with the Ministry of the Interior in Saudi Arabia, and shipped the first order for 100 units through its Middle East partner, DDIT. ICOP returned to the region in August of 2009 to integrate servers into five Ministry of Interior Headquarters Offices and 15 Precincts across Riyadh, establishing the platform to support the installation of additional ICOP units.
STRATEGIC PARTNERSHIP DEVELOPMENT
On July 15, 2009, the Company entered into an agreement with JPS Communications Inc., a wholly owned subsidiary of Raytheon Company. This five year agreement enables Raytheon to co-brand and market ICOP mobile video solutions to all of their existing markets, including; public safety, fire/EMS, transportation and military customers worldwide. The agreement grants Raytheon the right to resell ICOP products, including but not limited to, the ICOP Model 20/20�-W, ICOP 20/20 VISION(TM), ICOP LIVE(TM), ICOP iVAULT(TM), and ICOP DVMS(TM).
AAR Corporation, provider of products and services to the aviation and defense industries worldwide, announced today that it has signed a Memorandum of Agreement (MOA) with Sikorsky Aircraft Corporation to expand their business relationship. Sikorsky Aircraft is a world leader in the design, manufacture and service of military and commercial helicopters; fixed-wing aircraft; spare parts and maintenance, repair and overhaul services for helicopters and fixed-wing aircraft; and civil helicopter operations.
In addition to signing the MOA, AAR Corporation also announced it would be the exclusive supplier of interior and structural components for two of Sikorsky’s helicopter programs, the combined value of initial orders is estimated at $18.8 million, with potential contract value exceeding $60 million. Read the full context of the article below.
AAR Strengthens Relationship With Sikorsky and Provides Manufacturing and Machining for S-92(R) and H-60 Helicopters
WOOD DALE, Ill., Jan. 6 /PRNewswire-FirstCall/ — AAR (NYSE: AIR) announced today that it has signed a Memorandum of Agreement (MOA) with Sikorsky Aircraft Corporation under which the two companies will work together to identify opportunities to expand their business relationship. In addition, AAR was named the exclusive supplier of composite interiors for the Sikorsky S-92® helicopter program and will provide precision machining services for S-92 helicopter flooring and a structural component of the H-60 helicopter airframe. The combined value of initial orders is approximately $18.8 million, with a potential contract value exceeding $60 million.
The MOA represents a formal agreement between AAR and Sikorsky to explore opportunities to align AAR’s diverse engineering, manufacturing, maintenance and parts supply capabilities with Sikorsky’s production and aftermarket support requirements. The fabrication of S-92 Offshore/Airline helicopter composite interiors will be performed by AAR Composites. Precision machining services will be provided by AAR Summa Technologies. Together, these AAR businesses offer a complete range of design engineering and manufacturing services for both advanced composite and metallic aerostructures.
“This MOA represents an important step in building our relationship with Sikorsky and strengthening AAR’s reputation in the rotorcraft market,” said Timothy J. Romenesko, President and Chief Operating Officer, AAR CORP. “We appreciate the opportunity to provide Sikorsky with high-value products and services for their S-92 and H-60 helicopter programs and look forward to working with them to explore additional opportunities to support their operations and aircraft.”
AAR is currently under contract with Sikorsky to provide composite components for S-92 Search and Rescue helicopter interiors, S-92 VIP helicopter Interiors, S-92/H-92 helicopter ramp panels, CH148 helicopter Interiors and CH148 helicopter fairings and to produce machined components for H-60 aircraft.
AAR is a leading provider of value-added products and services to the worldwide aerospace and defense industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and government/defense customers through three operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; and Structures and Systems. More information can be found atwww.aarcorp.com.
Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in helicopter design, manufacture and service. Sikorsky is a subsidiary of United Technologies Corp. (NYSE: UTX), which is based in Hartford, Conn., and provides a broad range of high technology products and support services to the aerospace and building systems industries.
This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 1A, entitled “Risk Factors”, included in the Company’s May 31, 2009 Form 10-K. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. For additional information, see the comments included in AAR’s filings with the Securities and Exchange Commission.