HANOVER, Md., Jan. 5, 2011 (GLOBE NEWSWIRE) -- KEYW Corporation (Nasdaq:KEYW): Len Moodispaw, KEYW's CEO and President, today provided the following with respect to the Company's business and communications:
We intend to inform you of our strategy and any changes to it. We will provide objective metrics which are meaningful to us as we operate KEYW, and we will provide periodic updates on our performance to these metrics. And of course, we will do all of this in compliance with the securities laws and our obligations as a NASDAQ-listed company. We believe that a tactical view of our business that focuses on particular opportunities available to us provides little understanding of what makes us successful. However, because much attention has been paid to some opportunities, we provide the following update: 1) Our recently announced, $16 million, 1 year contract for Surface Mount Technology (SMT) products is a new opportunity that emerged and was awarded quickly, and one that launches a new KEYW product line. 2) While we were just informed that the Air Force contract known as A5XP was not awarded to KEYW, we do not believe this will have a significant impact on our future due to the award of the SMT contract, among other factors. 3) The Aura contract opportunity, with one of our major customers, has grown to be a 7 year, $700 million program to deliver next generation Intelligence Community capabilities using agile systems integration methods. We delivered our proposal during December 2010 and expect a decision in mid-2011; and 4) the Ocelot contract, also with one of our major customers, has been delayed to later in 2011, but it has been elevated to a high customer priority for award in 2011. From our strategic perspective, KEYW remains on course for a strong 2011. We expect to continue high organic growth regardless of specific contracts. Our history reflects that path; our primary limitation has been the availability of staff resources to perform the work vital to the mission of our customers. We will make acquisitions and pursue opportunities because they fit our strategy, not because we strive to meet some self or otherwise imposed short-term goals of revenue and profits. We will win some and lose some but will remain the Company known for producing results for our ever growing list of customers. Partners understand that as the reality of business; they choose to be partners based on the long-term value they foresee in the partnership.
"As we start 2011 and begin the season when many companies file earnings reports and annual reports and projections for the future, I want to make sure everyone knows my thinking about communications with the public and shareholders. To do so, I will quote from Jimmy Buffett and his cousin, Warren."
"Jimmy first (no surprise!): 'If the phone doesn't ring, it's me'. I don't intend to be prolific with announcements touting some tactical or incremental event or news not meaningful to KEYW. I do intend to communicate as clearly and openly as possible about matters that really impact our strategy and risks associated with achieving it.""Now for Warren: ' We make no attempt to woo Wall Street. Investors who buy and sell based upon media or analyst commentary are not for us. Instead we want partners who join us… because they wish to make a long term investment in a business they themselves understand and because it's one that follows policies with which they concur'. We at KEYW adhere to this philosophy. To this I add that we want partners who understand what we do for our Country and want to be part of a meaningful company, our company KEYW."