Arotech Subsidiary FAAC Inc Receives $2.2 Million of Orders in May; New Contracts and Contract Extensions for Military and Commercial Applications.Business Editors/High-Tech Writers NEW YORK--(BUSINESS WIRE)--May 27, 2004 Arotech Corporation (NasdaqNM:ARTX) announced today that its FAAC FAAC Freeware Advanced Audio Coder FAAC Ford Amateur Astronomy Club FAAC Family Allergy and Asthma Care FAAC Functional Area Agreement Coordinator (USAF) FAAC Fatal Accident Assessment Committee subsidiary has received contracts and contract extensions totaling $2.24M during the month of May. The contracts include the sale of driving simulator Driving Simulators are used for entertainment as well as in training of driver's education courses taught in educational institutions and private businesses. They are also used for research purposes in the area of human factors and medical research, to monitor driver behavior, related products as well as several military operation programs. One of the contract extensions for a transportable driving simulator came from the Center For Transportation Studies (CTS (1) (Clear To Send) The RS-232 signal sent from the receiving station to the transmitting station that indicates it is ready to accept data. Contrast with RTS. (2) (Common Type System) The data typing used in . ) in Denver Colorado. The simulator is the seventh simulator that CTS has ordered. CTS provides turnkey driver training services featuring FAAC simulators combined with classroom training and live driving. "The on-going relationship between CTS and FAAC has been very positive for both sides," noted Al Jordan, FAAC President. "CTS provides excellent curriculum based training, and some of their customers may later purchase their own simulator from FAAC." "Contract awards in May are tracking pretty closely with our projections for the year," said Robert S. Ehrlich, Arotech Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We foresee continuing sales growth in all of our sectors - commercial driving simulators, military driving simulators and our niche military operations areas." About FAAC Inc. FAAC Incorporated has been providing high fidelity high fidelity n. The electronic reproduction of sound, especially from broadcast or recorded sources, with minimal distortion. high training and simulation products to it's military and commercial customer base for over 30 years. FAAC supplies driving simulators for training operators of automobiles, trucks, police/fire/EMS vehicles, bus drivers, light rail operators, and airport ground vehicles. Over 80,000 drivers have been trained on FAAC's installed base of 173 driving simulators. FAAC also provides pilot decision-making support software for the F-15, F-18, and JSF (JavaServerFaces) A standard framework of components for building rich user interfaces for Java applications. JavaServer Faces run on the server, but are displayed on the client. JSF - JavaServer Faces aircraft as well as simulation models for the ACMI/TACTS air combat training ranges. About Arotech Corporation Arotech Corporation provides quality defense and security products for the military, law enforcement and homeland security markets, including advanced zinc-air and lithium batteries and chargers, multimedia interactive simulators/trainers and lightweight vehicle armoring. The Battery and Power Systems Division includes Electric Fuel Battery Corporation and Epsilor Electronic Industries. The Simulation, Training and Consulting Division includes IES Interactive Training, FAAC Incorporated and Arocon Security Consulting. The Armored Vehicle Division includes MDT MDT abbr. Mountain Daylight Time MDT (in the US and Canada) Mountain Daylight Time MDT n abbr (US) (= mountain daylight time) → Armor Corp and MDT Protective Industries Ltd. Arotech is incorporated in Delaware, with corporate offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and research, development and production subsidiaries in Alabama, Colorado, Michigan and Israel. Except for the historical information herein, the matters discussed in this news release include forward-looking statements, 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. Readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks and uncertainties that may cause actual results to vary significantly. These risks and uncertainties include, but are not limited to, risks relating to: product and technology development; the uncertainty of the market for Arotech's products; changing economic conditions; delay, cancellation or non-renewal, in whole or in part, of contracts or of purchase orders; and other risk factors detailed in Arotech's most recent Annual Report on 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. Form 10-K See 10-K. for the fiscal year ended December 31, 2003 and other filings with the Securities and Exchange Commission. Arotech assumes no obligation to update the information in this release. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release. |
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