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 1995Except 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 it has been awarded a contract to deliver switchgear equipment in support of the power distribution and protection system for the U.S. Navy's newest submarine, which will replace the existing Ohio-class platform. This competitively awarded contract includes the detail design and qualification of the switchgear, along with the delivery of select units to the first submarine. Follow-on deliveries will extend to 2035 if the U.S. Navy builds all boats in the current plan of record. "This is an important contract for L-3 because it demonstrates our ability to meet evolving naval requirements with optimal reliability and performance," said Michael T. Strianese, L-3's Chairman and Chief Executive Officer. "Our expertise is in electrical protection and distribution equipment that is designed for harsh and rugged environments," added Christine Montalvo, President of L-3 SPD Electrical Systems (L-3 SPDES), which will complete the work. "We've spent two years investing in conceptual designs and improving upon key elements, including electrical performance, weight and reduced cost, and are excited to have won this rigorous competition." L-3 SPDES is part of the Power & Propulsion Systems sector within the Electronic Systems business segment. The division currently manufactures switchgear and Air Circuit Breakers (ACBs) for the Virginia-class fast attack submarine. Located in Philadelphia, Pennsylvania, L-3 SPDES employs approximately 215 people. It is a worldwide leader in providing maritime power distribution and conditioning products and services to the U.S. Navy and allied foreign navies. To learn more about the company, please visit www.L-3com.com/SPDES. Headquartered in New York City, L-3 employs approximately 38,000 people worldwide and is a leading provider of a broad range of communication and electronic systems and products used on military and commercial platforms. L-3 is also a prime contractor in aerospace systems. The company reported 2015 sales of $10.5 billion.