Analysis & Technology, Inc. Awarded $49.6 Million Contract With Naval Undersea Warfare Center.NORTH STONINGTON, Conn.--(BUSINESS WIRE)--
April 26, 1999-Analysis & Technology, Inc. (Nasdaq: AATI AATI Austin Area Translators and Interpreters Association
AATI Asociación Argentina de Traductores e Intérpretes ), 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 The Naval Undersea Warfare Center (NUWC) is the United States Navy's full-spectrum research, development, test and evaluation, engineering and fleet support center for submarines, autonomous underwater systems, and offensive and defensive weapons systems associated with Division Newport (NUWC Noun 1. NUWC - the agency that provides scientific and engineering and technical support for submarine and undersea warfare systems
Naval Underwater Warfare Center ) for engineering and technical support for its Undersea Weapon System (UWS UWS University of Western Sydney
UWS Upper West Side
UWS University of Wales Swansea (Wales, UK)
UWS University of Wisconsin-Superior
UWS United We Stand
UWS Utah Watercolor Society
UWS Undersea Warfare Systems ) 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 AUSWC Advanced Undersea Warfare Concept ). 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 Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. 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 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. 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 Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 10-K. Annual Report. Copies of these documents may be obtained at no charge by calling Elaine Grimsell Beckwith, Investor Relations Investor relations
The process by which the corporation communicates with its investors. Manager, at 860-599-3910, extension 2630.