National Technical Systems Awarded Lockheed Martin "Skunk Works" Support Contract.CALABASAS, Calif.--(BUSINESS WIRE)--Nov. 18, 1997--National Technical Systems Inc. (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 :NTSC (National TV Standards Committee) The committee that developed the television standards for the U.S, which are also used in Canada, Japan, South Korea and several Central and South American countries. Both the committee and the standard are called "NTSC. ) Tuesday announced that it has received a three-year open-ended contract from the Palmdale, Calif.-based Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. Skunk skunk, name for several related New World mammals of the weasel family, characterized by their conspicuous black and white markings and use of a strong, highly offensive odor for defense. Works Division to provide testing, analysis and engineering support personnel. The contract, which has already begun, calls for NTS NTS National Technical Systems NTS National Trust for Scotland NTS Nevada Test Site NTS NT Server (Microsoft Windows) nts Not the Same NTS National Traffic System (amateur radio) to provide various services in support of Lockheed Martin projects on an on-call basis. While the contract does not specify a specific dollar value, it could be as high as $10 million, as it is tied to an hourly rate for each task or support effort assigned. The Skunk Works Division is famous for producing the SR-71 Blackbird “SR-71” redirects here. For other uses, see SR-71 (disambiguation). The Lockheed SR-71 was an advanced, long-range, Mach 3 strategic reconnaissance aircraft developed from the Lockheed YF-12A and A-12 aircraft by the Lockheed Skunk Works. , the U-2 high altitude Conventionally, an altitude above 10,000 meters (33,000 feet). See also altitude. reconnaissance aircraft, the F-117 stealth fighter, F-22 fighter and a host of other state-of-the-art advanced aircraft and missiles. Current projects include the X-33 aircraft, the Joint Strike Fighter A strike fighter is a fighter aircraft which is also capable of attacking surface targets, including ships. It differs from an attack aircraft in that the aircraft remains a capable fighter. and Joint Air to Surface Missile. According to NTS President and Chief Executive Officer Jack Lin, this contract simplifies and enhances NTS' ability to provide rapid, timely support to Lockheed Martin. Over the years, NTS has performed a variety of tests for many Lockheed Martin projects and Lockheed Martin operating units, ranging from wind tunnel testing to structural analysis. Lin commented: "This contract is a reflection of the excellent relationship we have developed with Lockheed Martin over the many years we have provided testing, personnel and other support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services . This contract is another example of the growing recognition by leading aerospace government and commercial organizations of our ability to provide high quality, timely and cost-effective specialized testing, analysis and engineering personnel support services. We look forward to the further expansion of our work with Lockheed Martin." National Technical Systems is a premier diversified technology services company with business in technical services (engineering and testing), technical staffing and registration services. -0- The statements in this news release that relate to future plans, events or performance, are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining to customer orders, demand for products and services, development of markets for the company's products and services and other risks identified in the company's SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. CONTACT: Allen & Caron Inc Damon Wright (investors) Owen Daley (media) 714/252-8440 or National Technical Systems Lloyd Blonder, 818/591-0776 |
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