Analysis & Technology, Inc. Awarded $49.6 Million Contract With Naval Undersea Warfare Center.
April 26, 1999-Analysis & Technology, Inc. (Nasdaq: AATI), a leading developer of engineering technologies and Web-based training solutions, announced today that it has been awarded a contract with the Naval Undersea Warfare Center Division Newport (NUWC) for engineering and technical support for its Undersea Weapon System (UWS) Program, which includes surface ships and submarines.
If all options are exercised during a five-year period, this multiple award contract is valued at $49.6 million. One other firm was also awarded a prime contract.
Under this growth contract, Analysis & Technology and its subcontractors will support NUWC's charter to develop new technologies and maintain current data collection and display systems for undersea weapons systems test ranges. The Company will prepare test plans compliant with performance objectives, as well as environmental safety considerations, and evaluate test results. Analysis & Technology will also work to develop and validate data models for synthetic environment testing, where computer-based modeling and simulation recreates testing scenarios in lieu of physical test range operations. Systems evaluated under the contract will include combat, sonar, and weapons systems.
Gary P. Bennett, chairman and chief executive officer of Analysis & Technology, said, "We're extremely pleased to work with the Naval Undersea Warfare Center in its critical effort to improve Navy weapons systems through rigorous testing and to explore the cost effective alternative of synthetic environment testing. We will be working with NUWC both to improve the accuracy of and to standardize the data models used in such simulations. This is a key prerequisite for the eventual implementation of the Navy's advanced undersea warfare concept (AUSWC). With network-centric AUSWC, sensors of several vessels can be networked to complete a coherent tactical picture for force commanders."
Analysis & Technology, Inc. creates technology-based solutions through engineering and information technologies. Its subsidiary, Interactive Media Corp., creates technology- and Web- based training using leading-edge multimedia technologies. Analysis & Technology recently entered into a definitive merger agreement with Anteon Corporation of Fairfax, Virginia under which Anteon will acquire all the outstanding shares of Analysis & Technology and Analysis & Technology will become a wholly owned subsidiary of Anteon. The merger is expected to close by June 30, 1999.
Information in this news release includes statements that are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Additional information and discussion concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in Analysis & Technology, Inc.'s fiscal year 1998 Annual Report to Shareholders, and in the Company's Form 10-K Annual Report. Copies of these documents may be obtained at no charge by calling Elaine Grimsell Beckwith, Investor Relations Manager, at 860-599-3910, extension 2630.