Allied Research Corporation Receives a $1.0 Million Contract for Spare Parts and Maintenance.VIENNA, Va.--(BUSINESS WIRE)--Nov. 2, 1999-- Allied Research Corporation (AMEX AMEX See: American Stock Exchange : ALR ALR Administrative License Revocation ALR Agricultural Land Reserve (Canada) ALR Automatic Locking Retractor (seat belts) ALR Australian Law Reports (University of Tasmania Library) ), a diversified defense and commercial electronic security firm, announced today that its Belgian subsidiary, MECAR S.A., had received a new contract for spare parts Spare parts, also referred to as Service Parts is a term used to indicate extra parts available and in proximity to the mechanical item, such as a automobile, boat, engine, for which they might be used. Spare parts are also called “spares. and maintenance amounting to $1.0 million. Glenn Yarborough yar·bor·ough n. Games A bridge or whist hand containing no honor cards. [After Charles Anderson Worsley, Second Earl of Yarborough , President & Chief Executive Officer of Allied Research, said "this contract together with the contracts we have received during the last few months, show our ability to gain repeat business from an important and reliable customer. These orders add real substance to our backlog, now at about $86 million, and further adds for production into the year 2000." "As we have mentioned previously, 1999 has not been a good year for ARC and we expect to report a loss for the year ending December 31, 1999, but, watch out for 2000, ARC will do well." Certain statements contained herein are "Forward Looking" statements as such term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission. Allied Research Corporation is a defense and commercial electronic security firm. Its operating units operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon develop and produce ammunition and weapon systems; supply equipment performance upgrades for defense departments worldwide; and design, produce and market sophisticated commercial electronic security and access control systems. |
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