Headquartered in New York City, L-3 employs approximately 51,000 people worldwide and is a prime contractor in C 3 ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, platform and logistics solutions, and national security solutions. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms. The company reported 2012 sales of $13.1 billion.To learn more about L-3, please visit the company’s website at www.L-3com.com. L-3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L-3 is routinely posted on the company’s website and is readily accessible. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
L-3 Communications (NYSE: LLL) announced today that its Warrior Systems-ALST business has been awarded a contract to deliver state-of-the-art Ground Laser Target Designators (GLTD) to the Republic of Korea (ROK). L-3’s new Scarab system is a modular laser designator equipped with rangefinding and an IR thermal imager, providing accurate target designation during the day, night and in nearly all battlefield conditions. The initial contract value is approximately $30 million with product delivery beginning in mid-2014.
L-3's Scarab system offers 24/7 day/night capabilities. It is the smallest, lightest and most affordable designator in its class. (Photo: Business Wire)“This important win provides our customer with a new and advanced capability and demonstrates the ROK’s confidence in L-3 Warrior Systems’ ability to fulfill global requirements for technologically advanced sensor fire-control systems, while consistently meeting cost and schedule constraints,” said Steve Kantor, president of L-3’s Electronic Systems Group. “It is also a strategic new business area for L-3, which expands our market share and creates near-term international opportunities for our advanced imaging product line.” Under the terms of the contract with the ROK’s Defense Acquisition Program Administration (DAPA), L-3 will provide Scarab GLTD systems, conduct in-country operator and maintenance training, supply spares, and establish and maintain a full-range, multi-year logistics support capability in the ROK. As a lightweight, single man-portable system with tripod mounting, Scarab provides a unique operational capability to identify and designate targets on the ground. This battery-powered system is capable of over 60 minutes of continuous designation from a single battery and incorporates the latest advances in diode-pumped laser generation. L-3 Warrior Systems is a world leader in the development and production of advanced night vision and electro-optical systems and components. It supports all branches of the United States military, law enforcement, first responder agencies, allied nations and consumers by developing and delivering laser aiming and illumination devices, laser rangefinder and designator systems, holographic weapon sights, and night vision imaging systems using the latest in thermal, image intensifier and fusion technologies.