ECC International Corp. Announces Lot 2 Award for the EST 2000 Program.Business Editors ORLANDO, Fla.--(BUSINESS WIRE)--Aug. 21, 2001 ECC (1) (Error-Correcting Code) A type of memory that corrects errors on the fly. See ECC memory. (2) (Elliptic Curve Cryptography) A public key cryptography method that provides fast decryption and digital signature processing. International Corp. (AMEX AMEX See: American Stock Exchange :ECC) announced today that it has received a $4.4M award for 42 Engagement Skills Trainer 2000 (EST EST electroshock therapy. EST abbr. electroshock therapy 2000) production systems. This represents the exercise of the second option under the EST 2000 contract. These systems are part of the 1,104 planned systems under the total program which is valued at more that $93M. "ECC is very pleased by the overwhelmingly positive response from the users of the systems which were fielded this past year. We look forward to continuing this successful relationship with the U.S. Army," said Dr. James C. Garrett, president and chief executive officer of ECC. "In addition, as these systems are being fielded, many opportunities to sell EST 2000 internationally are being generated." The U.S. Army Simulation, Training and Instrumentation Command (STRICOM STRICOM Simulation Training and Instrumentation Command STRICOM Simulation, Training & Instrumentation Command (US Army) ) awarded the initial EST 2000 contract in November 1998. STRICOM has structured the contract to serve the weapons training needs of other U.S. armed forces, federal, state and local law enforcement agencies A law enforcement agency (LEA) is a term used to describe any agency which enforces the law. This may be a local or state police, federal agencies such as the Federal Bureau of Investigation (FBI) or the Drug Enforcement Administration (DEA). as well as foreign armed forces through the Foreign Military Sales That portion of United States security assistance authorized by the Foreign Assistance Act of 1961, as amended, and the Arms Export Control Act of 1976, as amended. This assistance differs from the Military Assistance Program and the International Military Education and Training Program (FMS FMS - Flexible Manufacturing System (factory automation). ) program. The EST 2000 is the most accurate weapons training system available and the only one validated by the U.S. Army Infantry School (USAIS USAIS United States Army Infantry School USAIS Universal Shipborne Automatic Identification System ) to be fielded. The EST 2000 system enables training on 11 different weapons including rifles, pistols, machineguns, shotguns, anti-tank weapons, and grenade launchers. Currently, 73 systems have been fielded. When fully fielded, the EST 2000 system will train more soldiers - enlisted and officer - each year than any other Army training system. ECC International Corp., is a leader in the design, development, manufacture and support of training devices and simulators for the U.S. Armed Forces in support of individual, crew, team and higher level collective training in both operator and maintainer skills and tasks. The company also has provided military training devices for more than 25 countries. Statements in this press release regarding future plans, events and performance, including without limitation future profitability levels, are forward looking statements and are subject to risks and uncertainties that could cause actual results to differ materially. The following statements are important factors, among others, that should be considered in evaluating any forward looking statements: the company's actual revenues, sales order levels, overhead rates, expense levels, and audit adjustments during future quarters, general economic conditions, cancellation of weapons programs, delays in contract awards, the introduction of new products by, and pricing practices of, the company's competitors and other risks identified in the company's SEC filings. Actual results may differ materially. |
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