Business Services Industry
SSE Telecom Inc. Wins $13.8 Million Extension of U.S. Army Contract; June Quarter Loss Expected on Shipments of About $10 Million
Business Wire, July 3, 1997
VIENNA, Va.--(BUSINESS WIRE)--July 3, 1997--SSE Telecom Inc. (NASDAQ/NMS:SSET) Thursday 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 shipped $3.8 million of DDT 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 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, 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 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
or
Neil G. Berkman Associates
310/277-5162
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