Astronics' Awarded FAA Contract for Electrical Power Distribution System Development.EAST AURORA, N.Y. -- Astronics Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ATRO ATRO Actual Time of Return to Operation ), a leader in advanced, high performance lighting, electrical power generation, control and distribution systems for the global aerospace industry, announced today its Redmond, Washington Redmond is a city in King County, Washington, USA. It is situated on the eastern edge of the Seattle urban area, in what is known as the Eastside. In 2003 the Census Bureau estimated the city population was 46,391. based subsidiary, Astronics Advanced Electronic Systems (AES) was awarded a research contract by the Federal Aviation Administration Federal Aviation Administration (FAA), component of the U.S. Department of Transportation that sets standards for the air-worthiness of all civilian aircraft, inspects and licenses them, and regulates civilian and military air traffic through its air traffic control (FAA). In conjunction with the William J. Hughes William John "Bill" Hughes (born October 17, 1932) is an American Democratic Party politician from New Jersey. He represented New Jersey's At-large congressional district in the United States House of Representatives for 20 years. Technology Center, which serves as a national scientific test base for the FAA, Astronics will be developing a next generation solid state electrical power distribution system (EPDS EPDS Edinburgh Postnatal Depression Scale EPDS Electrical Power & Distribution System EPDS Electronic Processing and Dissemination System EPDS Emergency Personnel Decontamination Station EPDS Emergency Priority Dispatch System ). Providing power for an entire aircraft operating platform, the next generation EPDS will provide a substantial increase in safety and reliability over existing systems as well as reduce aircraft weight, pilot workload and system wiring. Mark Peabody, Executive Vice President of Astronics Advanced Electronic Systems, commented, "Astronics AES was chosen by the FAA for this contract because of our extensive knowledge and expertise in designing and manufacturing power distribution systems for a variety of aircraft platforms. The new design will simplify re-configuration requirements allowing the system to be integrated on multiple aircraft platforms with minimal effort. By working with the FAA to develop new technologies, we are in an excellent position to design EPDS systems for aircraft manufacturers for inclusion on new aircrafts platforms." As part of the contract, Astronics AES will develop a standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. interface between the aircraft power system and avionics and maintenance systems. Several important, advanced technologies will also be incorporated in the system, including: * Electronic circuit breakers Circuit breakers Measures instituted by exchanges to stop trading temporarily when the market has fallen by a certain percentage in a specified period. They are intended to prevent a market free fall by permitting buy and sell orders to rebalance. with advanced arc fault detection * Ground fault interrupt protection * System health monitoring and alerting (prognostics) * Advanced power management and intelligent load shedding Development work on the project began in October 2006 and will continue through October 2009, providing follow on contract options are awarded to Astronics AES by the FAA. ABOUT ASTRONICS CORPORATION Astronics Corporation is a leader in advanced, high-performance lighting, electrical power generation, control and distribution systems for the global aerospace industry. Its strategy is to expand the value and content it provides to various aircraft platforms through product development and acquisition. Astronics Corporation, and its wholly-owned subsidiaries Astronics Advanced Electronic Systems Corp. and Luminescent lu·mi·nes·cent adj. Capable of, suitable for, or exhibiting luminescence. [Latin l men, l Systems Inc., have a reputation for high quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. For more information on Astronics and its products, visit its website at www.Astronics.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words "expect," "anticipate," "plan," "may," "will," "estimate" or other similar expression. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially include the Company's ability to successfully execute the contract, that the production contracts will be awarded to Astronics, that the night vision conversion technology is transferable to other aircraft platforms and the state of the aerospace industry, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this press release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise. |
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