SAAB Aerospace Selects Telephonics for NH-90 Nordic Standard Helicopter Program.Business Editors FARMINGDALE, N.Y.--(BUSINESS WIRE)--May 7, 2002 Telephonics Corporation: Telephonics Awarded APS-143B(V)3 Ocean Eye(TM) Surveillance Radar Contract Telephonics Corporation, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Griffon Corporation (NYSE NYSE See: New York Stock Exchange : GFF) announced today a $7.6 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) contract award from SAAB SAAB Svenska Aeroplan Aktiebolaget (Swedish Aeroplane Corporation; auto/aircraft manufacturer) SAAB Student-Athlete Advisory Board SAAB Student African American Brotherhood SAAB South African Association of Botanists Aerospace of Sweden to deliver its Airborne Multimode Surveillance Radar equipment in support of Sweden's Nordic Standard Helicopter Program (NSHP NSHP nutritional secondary hyperparathyroidism. ). Under the contract, Telephonics will provide SAAB with its APS-143B(V)3 Ocean Eye Surveillance Radar for integration into the NH-90 helicopter Tactical Mission System. Designed for operation in both helicopters and fixed-wing aircraft, the APS-143B(V)3 Ocean Eye is a multi mode radar system optimized for small target detection in the most severe conditions. "Telephonics' APS-143B(V)3 represents the most advanced technology for maritime surveillance," states Larry Rytter, President of Telephonics Command Systems Division. "It also provides state-of-the-art Synthetic and Inverse Synthetic Aperture Radar Inverse Synthetic Aperture Radar (ISAR) is a technique to generate a two-dimensional high resolution image of a target. In situations where other radars display only a single unidentifiable bright moving pixel, the ISAR image is often adequate to discriminate between (SAR (Segmentation And Reassembly) The protocol that converts data to cells for transmission over an ATM network. It is the lower part of the ATM Adaption Layer (AAL), which is responsible for the entire operation. See AAL. SAR - segmentation and reassembly and ISAR) imaging," said Rytter. The APS-143B(V)3 Ocean Eye imaging radar will be the primary sensor used by the Swedish Armed Forces The Swedish Armed Forces (Swedish: Försvarsmakten), is a Government agency responsible for the peacetime operation of the armed forces of Sweden. for wide area maritime surveillance, search and rescue, environmental protection, and anti-surface and anti-submarine warfare missions. "The Ocean Eye's high resolution ISAR and spotlight and strip-map SAR processing produces accurate images, which can be used to classify and identify both maritime and littoral littoral /lit·to·ral/ (lit´ah-r'l) pertaining to the shore of a large body of water. littoral pertaining to the shore. targets," said Rytter. Work on this program will be performed at the Telephonics' facilities in Farmingdale and Huntington, New York For the hamlet within the Town of Huntington, see . Huntington is a town located off the North Shore of Long Island, just east of the county line. The Town was settled in 1653 and is located in northwestern Suffolk County, New York. . Delivery of equipment is scheduled from 2004 through 2007. About Telephonics Corporation A subsidiary of Griffon Corporation (NYSE: GFF), Telephonics' (www.telephonics.com) broad-based, high-tech engineering capabilities provide integrated information and communication systems solutions to both domestic and international markets. The company is organized into two operating divisions: Communications Systems, specializing in aircraft intercommunications, mass transit communications, wireless and audio products; and Command Systems, specializing in air traffic management systems, and maritime surveillance radar and aerospace electronics; and two wholly-owned subsidiaries, TLSI TLSI The London Skills Institute (UK) and the newly formed Telephonics Wireless. Operating under the Telephonics umbrella, TLSI (www.tlsi.com) manufactures application-specific integrated circuits (ASIC (Application Specific Integrated Circuit) Pronounced "a-sick." A chip that is custom designed for a specific application rather than a general-purpose chip such as a microprocessor. ) for the telecommunications, automotive and industrial security markets. The goal of Telephonics Wireless is to provide innovative wireless data infrastructure products that fundamentally increase the speed, capacity and performance of wireless communication networks. About Griffon Corporation In addition to developing and manufacturing information and communication systems for government and commercial markets worldwide, Griffon Corporation is also a leader in the development and production of embossed em·boss tr.v. em·bossed, em·boss·ing, em·boss·es 1. To mold or carve in relief: emboss a design on a coin. 2. and laminated specialty plastic films used in the baby diaper, feminine napkin, adult incontinent, surgical and patient care markets. Griffon Corporation is also a leading manufacturer and marketer of residential, commercial and industrial garage doors sold to professional installing dealers and major home center retail chains. Through a substantial network of operations located throughout the country, Griffon's building products company also installs and services specialty building products, primarily garage doors, openers, fireplaces and cabinets for new construction markets. Forward Looking Statements "Safe Harbor" Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: All statements other than statements of historical fact included in this release, including without limitation statements regarding the company's financial position, business strategy and the plans and objectives of the company's management for future operations, are forward-looking statements. When used in this release, words such as "anticipate," "believe," "estimate," "expect," "intend," and similar expressions, as they relate to the company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the company's management, as well as assumptions made by and information currently available to the company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, business and economic conditions, competitive factors and pricing pressures, capacity and supply constraints. Such statements reflect the views of the company with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the company. Readers are cautioned not to place undue reliance on these forward-looking statements. The company does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events. Visit www.telephonics.com for additional information or contact: Gina deCesare Public Relations Manager 631.755.7583 decesare@telephonics.com (c) 2002 Telephonics Corporation. 815 Broad Hollow Road, Farmingdale, NY 11735. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies. |
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