SYS Technologies Receives $4.0 Million Delivery Order; Total Potential Value Including Option Years of $17.5 Million.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- SYS Technologies ("SYS SYS System(s) SYS System Configuration (File Name Extension) SYS See You Soon SYS Sun Yat-Sen (founder of Republic of China) SYS Stretch-Yawn Syndrome ") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SYYS), announced today the award of a $4.0 million order from the Naval Sea Systems Command's ("NAVSEA NAVSEA Naval Sea Systems Command NAVSEA Naval Avionics Support Equipment Appraisal ") Warfare Center located at Port Hueneme, California Port Hueneme (IPA: [ˌpoɹt waɪˈnimi]) is a small harbor city in Ventura County, California surrounded by Oxnard. The name derives from the Spanish spelling of the Chumash wene me, meaning "resting-place". for technical and management services. This order is the Company's first in the southwest region on the recently awarded and previously announced Seaport Enhanced Multiple Award Contracts ("MAC") that are envisioned to become a key contracting component for NAVSEA in the future. The order contains four additional option years, which, if exercised, provides for a total potential value of $17.5 million. All tasks awarded under the Seaport Enhanced MAC's are competitively bid among all eligible MAC holders. The contract ceiling for all award recipients, including SYS, is approximately $33 billion over the next 15 years. Under this Seaport Enhanced MAC, SYS will compete for task orders to provide a broad range of comprehensive engineering, technical, and programmatic support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services to five of the Naval Surface Warfare Center Noun 1. Naval Surface Warfare Center - the agency that provides scientific and engineering and technical support for all aspects of surface warfare NSWC ("NSWC Noun 1. NSWC - the agency that provides scientific and engineering and technical support for all aspects of surface warfare Naval Surface Warfare Center ") divisions including NSWC Carderock and Dahlgren (National Capital Zone); NSWC Dam Neck (Mid-Atlantic zone) and NSWC Corona and Port Hueneme (Southwest zone). "This award represents a critical win for the Company as it allows SYS to continue providing support to our current customer for which we have been providing these same types of services for the past fifteen years. Further, based on this new contracting mechanism and the significant competition for this business, SYS will be employing innovative and improved business practices to reduce costs to our customer and we believe these approaches will lead to additional opportunities within the NAVSEA community. I am pleased with the way our team accomplished this major effort in responding to this solicitation request by including input and support from all business units, and I am very proud to see SYS receive this initial order on a prime contract in a program of this magnitude," said Cliff Cooke, Chief Executive Officer. SYS Technologies has provided engineering, technical, financial and management services to commercial and U.S. government customers since 1966. It currently has several multiple-year management and engineering service contracts with the U.S. Navy and General Services Administration The General Services Administration (GSA) was established by section 101 of the Federal Property and Administrative Services Act of 1949 (40 U.S.C.A. § 751). The GSA sets policy for and manages government property and records. . The Company is publicly traded (OTCBB:SYYS). SYS Technologies is headquartered in San Diego at 5050 Murphy Canyon Road, San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. 92123 and has offices in Oxnard, California and Arlington and Chesapeake, Virginia. For additional information, visit the SYS Technologies web site at http://www.systechnologies.com. This press release includes "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release regarding the Company's strategies, plans, objectives, expectations, and future operating results are forward-looking statements. Although SYS believes that the expectations reflected in such forward-looking statements are reasonable at this time, it can give no assurance that such expectations will prove to have been correct. Actual results could differ materially based upon a number of factors including, but not limited to, the state of economy, competition, unanticipated business opportunities, availability of financing, market acceptance, government regulation, dependence on key personnel, limited public market and liquidity, shares eligible for future sale, continuation and renewal of contracts and other risks that may apply to the Company including risks that are disclosed in the Company's Securities and Exchange Commission filings. |
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