The deal, for systems belonging to BVR's Ehud family of products, is estimated at $2.4 million. It is part of an agreement signed in 1999, under which BVR Systems provides the terrestrial component of the system and algorithms to the airborne unit, while IAI supplies the airborne hardware.
BVR will act as the principal contractor for the air force, and IAI will act as sub-contractor to BVR in the project.
In addition to the debriefing systems to be installed on jets and on the ground, the air force will also be provided with a support and maintenance package.
BVR president and CEO, Yoel Katzir, said that the IAF first leased the systems. Pleased with their performance, it proceeded to purchase them.
Q3 revenues of $10 millionBVR Systems, part of the Elisra Electronic Systems group of companies, will be posting its quarterly results within a few weeks.
Elisra is controlled by the Koor Industries (Nasdaq:KOR) conglomerate, but may soon be sold due to Koor's need for liquidity. Possible contenders include the Israel Military Industries and Elbit Systems (Nasdaq:ESLTF).
At the end of September it pre-announced $10 million sales for the third quarter, bringing estimated 2001 sales to $40 million.
If the company indeed reports $10 million in revenues, they will be 15.2% lower than its Q2 revenues, but 50% higher than the same quarter last year.