SSE Telecom Inc. Wins $13.8 Million Extension of U.S. Army Contract; June Quarter Loss Expected on Shipments of About $10 Million.VIENNA Vienna, city and province, Austria Vienna (vēĕn`ə), Ger. Wien, city and province (1991 pop. 1,539,848), 160 sq mi (414 sq km), capital and largest city of Austria and administrative seat of Lower Austria, NE Austria, on , Va.--(BUSINESS WIRE)--July 3, 1997--SSE Telecom Inc. (NASDAQ/NMS:SSET SSET Superconducting Single-Electron Transistor SSET Source Selection Evaluation Team SSET School Self Evaluation Tracker (UK) SSET Source Selection Evaluation Test SSET Shipboard Security Engagement Tactics (US Navy) ) Thursday Thursday: see week. announced that it has been awarded an extension of a contract with the U.S. Army for SSE's Downsized Deployable Terminals (DDTs) and related equipment valued at $13.8 million. SSE (1) An earlier full-screen editor in OS/2. (2) (Streaming SIMD Extensions) A series of additional instructions built into Pentium CPU chips for improved multimedia performance by performing mathematical operations on multiple sets of data at the shipped $3.8 million of DDT DDT or 2,2-bis(p-chlorophenyl)-1,1,1,-trichloroethane, chlorinated hydrocarbon compound used as an insecticide. First introduced during the 1940s, it killed insects that spread disease and feed on crops. systems under its initial $5.1 million contract in early 1997, and expects to obtain releases and complete shipments under the initial contract and the $13.8 million contract extension over the next 15 months. ``In addition to a recent DDT release for $1.6 million, commercial bookings also have been strong. Backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. has increased from $4.5 million at the end of the March quarter to approximately $10 million as we enter our fourth fiscal quarter,'' said Dan Moore Moore, city (1990 pop. 40,761), Cleveland co., central Okla., a suburb of Oklahoma City; inc. 1887. Its manufactures include lightning- and surge-protection equipment, packaging for foods, and auto parts. , chief executive officer of SSE Telecom. He added that because of lower-than-anticipated shipments of approximately $10 million in the third quarter of fiscal 1997, which ended on June 28, 1996, the company expects to report a net loss for the period in excess of the net loss of $0.09 per share on revenue of $12.6 million for the third quarter of fiscal 1996. ``The large contract extension from the U.S. Army confirms the quality of our DDT system and validates SSE's overall strategy for our federal division. Similarly, the recent increase in bookings confirms that we have the right products for our commercial customers as well,'' Moore said. SSE's Downsized Deployable Terminal is a lightweight, transportable, tri-band satellite terminal that operates on both military and commercial satellites. The DDT is designed for rapid changes between X, C and Ku-band frequencies and is available with various power and lightweight antenna options for a variety of applications in the field. SSE Telecom is a leading satellite earth station component and system manufacturer. To date, more than 34,000 of SSE's transceivers or modems have been installed in satellite earth stations in more than 110 countries worldwide. The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. with respect to events, the occurrence of which involve risks and uncertainties, including, without limitation, demand and competition for the company's products, and other risks or uncertainties detailed in the company's Securities and Exchange Commission filings. CONTACT: SSE Telecom Inc. Daniel E. Moore, 703/442-4503 Russ D. Kinsch, 510/657-7552 www.sset.com or Neil G. Berkman Associates 310/277-5162 |
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