FOR IMMEDIATE RELEASE
MICRONETICS AWARDED $1.4M ORDER ON COMPONENTS FOR US ARMY ELECTRONIC PROTECTION SYSTEM
Tony Pospishil, Vice President and General Manager of Microwave Concepts ("MicroCon"), stated "This is an important order for us. It is a strategic, on-going program for which we anticipate significant additional releases. It underscores our capability to build, design and test complex microwave assemblies."
David Robbins, Senior Vice President of Micronetics' Defense Electronics Group, stated, "The fact that MicroCon participates in programs such as this Electronic Protection System was a major reason we recently added them to our Group. The synergies created between Micronetics and MicroCon, both in capability and customer relationships, are designed to enable us to significantly expand our Defense Electronics Group. With the capabilities developed internally and through external activities, Micronetics is moving up the food chain seeking to take on more complex microwave integrated assembly opportunities."
Micronetics, operating through its Defense Electronics, Test Solutions and VCO Products Groups, manufactures microwave and radio frequency (RF) components and integrated assemblies used in a variety of defense, aerospace and commercial applications. Micronetics also manufactures and designs test equipment and components that test the strength, durability and integrity of communication signals in communications equipment. Micronetics serves a diverse customer base, including Aerosat, BAE Systems, Boeing, EADS, Honeywell, ITT, L-3 Communications, Lockheed Martin, NEC, Northrop Grumman, Raytheon, Southwest Research, Teradyne, Tektronix and Thales. Micronetics, with facilities in CT, MA, NH and NJ, also operates through its wholly-owned subsidiaries, Enon Microwave, Inc., Microwave & Video Systems, Inc. and Microwave Concepts, Inc.
Some of the statements contained in this news release are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, including but not limited to the success of the products into which the Company's products are integrated, internal projections as to the demand for certain types of equipment, competitive products and pricing, the success of new product development efforts, the timely release for production and the delivery of products under existing contracts, access to financial resources, future economic conditions generally, as well as other factors. The information in this release should be reviewed in conjunction with Micronetics' Annual Report for its fiscal year ended March 31, 2003.
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