Norsat International Inc. Announces Major Contract for Key Components of Mobile Satellite Terminals with a Military Customer.Business Editors BURNABY, British Columbia--(BUSINESS WIRE)--May 21, 2003 Norsat International Inc. (Nasdaq - NSAT NSAT National Secondary Assessment Test (Philippines) , TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension - NII (National Information Infrastructure) The U.S. government's policy for managing advanced technology in the country. The Clinton/Gore administration (1993-2001) was very enthusiastic about the Internet and proposed that it should be funded by private industry and be ) today announced it has won a competitive bid to supply key components for use in military shipboard ship·board n. 1. The condition of being aboard a ship: on shipboard. 2. Archaic The side of a ship. adj. satellite terminals. The contract, worth in excess of Cdn $1 million at the current US exchange rate, is with a military customer that previously purchased 24 Norsat SecureLink(TM) satellite terminals (formerly called picoTerminal). These terminals were successfully deployed in the field during 2002. The name of the customer cannot be disclosed due to contractual agreements. Under the same contract, the client has the option to purchase an additional Cdn $800,000 of the same components within the next 19 months. "This order validates the expertise and capability of Norsat in meeting the demanding technical and delivery requirements The stipulation that requires that an item of materiel must be delivered in the total quantity required by the date required. of military organizations," said Yutaka Ueda, Norsat President 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. . Chris McCormack Chris McCormack may refer to:
More information about the SecureLink(TM) and other Norsat portable terminal products can be found at www.norsat.com/products. About Norsat International Inc. Norsat International Inc. designs and markets satellite products for high-speed data transmission, including the Norsat OmniLink(TM) group of portable satellite terminals for application in remote or hostile environments. Forward Looking Statements Statements in this release relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to general economic conditions, changes in technology, reliance on third party manufacturing, managing rapid growth, global sales risks, limited intellectual property protection and other risks and uncertainties described in Norsat's public filings with securities regulatory authorities. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion