First graph, first sentence of release should read: Exelis ( NYSE: XLS) has been awarded a foreign military sale contract valued at $115 million... (sted Exelis ( NYSE: XLS) has been awarded a direct commercial contract valued at $115 million...).
The corrected release reads:
EXELIS RECEIVES $115 MILLION INTERNATIONAL ORDER FOR RADIOS, INSTALLATION KITS, SPARE PARTS AND TRAINING
Exelis ( NYSE: XLS) has been awarded a foreign military sale contract valued at $115 million to provide an existing international customer with additional communications equipment, spare parts, ancillary devices and operator training.Communications equipment acquired under the contract includes the SpearNet radio system with accessories, the RT-1702 SINCGARS (Single Channel Ground and Airborne Radio System) in the VRC-90 System, and the VRC-92 Dual Long Range Radio System configurations with installation kits and spares to support both systems. Also included in the purchase are PRC-119 Manpack Radio Systems with GPS and Spearhead handheld radios systems with accessories. Spare parts for all radio systems are included along with SpearNet training for both the vehicular and soldier radio systems. “This is a key award for Exelis from an existing international customer,” said Nick Bobay, the president and general manager of Exelis Night Vision and Tactical Communications Systems. “Our widely fielded and combat-proven SINCGARS continues to be the communications backbone for this force, and they are now integrating our SpearNet into their network as well. This is a tremendous vote of confidence in the breadth of communications equipment that Exelis currently offers.” Production of the radios for this international contract will take place at the Exelis Fort Wayne, Ind., facility. About Exelis Exelis is a diversified, top-tier global aerospace, defense, information and services company that leverages a 50-year legacy of deep customer knowledge and technical expertise to deliver affordable, mission-critical solutions for global customers. We are a leader in critical networks, ISR and analytics, electronic warfare, navigation, sensors, air traffic solutions, communications and information systems and have strong positions in composite aerostructures, logistics and technical services. Headquartered in McLean, Va., the company employs about 19,000 people and generated 2012 sales of $5.5 billion. For more information, visit our website at www.exelisinc.com or connect with us on Facebook, Twitter and YouTube.