Benthos Announces $500K Contract to Support Advancement of Underwater Acoustic Communications.Business/Technology Editors NORTH FALMOUTH, Mass.--(BUSINESS WIRE)--May 11, 2000 (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 : BTHS BTHS Brooklyn Technical High School BTHS Barth Syndrome BTHS Bartram Trail High School (Jacksonville, Florida) BTHS Brick Township High School (New Jersey) ) Benthos benthos: see marine biology. , Inc., a leading provider of underwater technology, announced today the award of a $500,000 Phase III Noun 1. phase III - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the FDA SBIR SBIR Small Business Innovation Research (program/grant) SBIR Space Based Infra-Red SBIR Speaker-Boundary Interference SBIR Site Backsurface-referenced Ideal Plane/Range (silicon wafers) (small business innovative research) contract to provide engineering services, hardware and software for the U.S. Navy's Space and Naval Warfare naval warfare Military operations conducted on, under, or over the sea and waged against other seagoing vessels or targets on land or in the air. The earliest naval attacks were raids by the armed men of a tribe or town using fishing boats or merchant ships. Systems Command (SPAWAR SPAWAR Space & Naval Warfare Systems Command (US Navy) SPAWAR Space Warfare ) Center in San Diego, CA. The contract was awarded to Datasonics, Inc. whose assets were acquired by Benthos in August of 1999. The contract will be assigned to Benthos upon completion of the government contract novation The substitution of a new contract for an old one. The new agreement extinguishes the rights and obligations that were in effect under the old agreement. A novation ordinarily arises when a new individual assumes an obligation to pay that was incurred by the original party process which is expected to be completed shortly. SPAWAR is funding the development of undersea acoustic telemetry telemetry Highly automated communications process by which data are collected from instruments located at remote or inaccessible points and transmitted to receiving equipment for measurement, monitoring, display, and recording. which will enable wireless communications, including intelligent networking, between various devices including sensor platforms, submarines and unmanned submersibles. Seaweb 2000 and Sublink are live demonstrations of this advanced technology planned for the summer of 2000 and this latest SPAWAR contract supports these efforts. This award is the latest in a series of government-funded contracts for the development of undersea wireless data telemetry. Benthos will be providing its latest generation Telesonar Acoustic Modem, the development of which was supported by earlier SPAWAR funding. Designated the ATM 885, this modem is capable of adaptive data coding to accommodate different undersea environments as well as networking configurations, The ATM 885 allows undersea devices to exchange data acoustically and incorporates advanced communication algorithms and error correction enabling high reliability data transfer. "We expect rapid expansion of the undersea data telemetry market in the next several years and this latest SPAWAR contract supports our long-term strategic goal to be a leader in this segment," stated John L. Coughlin, Benthos President and Chief Executive Officer. Benthos, Inc., through its Undersea Systems Division, designs, manufactures, sells and services a variety of oceanographic products for underwater tasks; and through its TapTone Package Inspection Division makes systems for testing consumer packages made of glass, metal or plastic. The common stock of the Company is traded on the Nasdaq SmallCap market under the symbol BTHS. For more information, Benthos can be found on the Internet at www.benthos.com. Forward Looking Statements The statements in this news release and in oral statements which may be made by representatives of the Company relating to plans, strategies, economic performance and trends and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Federal Securities Laws. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors which include: the timing of large project orders, competitive factors, shifts in customer demand, government spending, economic cycles, availability of financing as well as the factors described in this news release. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described herein as anticipated, believed, estimated, expected or intended. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion