Business Services Industry
Paravant Computer Systems enters into marketing agreement with ITT Industries
Business Wire, May 15, 1997
MELBOURNE, Fla.--(BUSINESS WIRE)--May 15, 1997--Paravant Computer Systems, Inc. (NASDAQ National Market: PVAT (Common Stock), PVATW (Warrants)) today announced that it has entered into a cooperative marketing agreement with ITT Industries' Aerospace/Communications Division ("ITT A/CD") in connection with international sales of ITT's SINCGARS secure radio system. ITT has produced the SINCGARS voice and digital communications radio for the U.S. Department of Defense ("DoD") and with DoD approval, is marketing the system internationally.
Under the terms of the agreement, ITT will test Paravant computers for interoperability with its secure, sophisticated digital radio equipment for voice and digital communications, the SINCGARS radio. In selling the SINCGARS radio to foreign countries, ITT will demonstrate to its customers a selection of Paravant computers and display products as part of a fully configured system. Depending on customer preferences, the Paravant systems may be sold directly by Paravant or through ITT A/CD, or the customer may opt to use other computers. Paravant's computers are well-suited to the task of interoperation with ITT's SINCGARS radios because Paravant's computers are low emitters of EMI (electro-magnetic interference) which can cause radio interference and can reduce the operating range of a radio network.
Rick McNeight, President and Chief Operating Officer of Paravant Computer Systems, stated, "This agreement represents an exciting opportunity for Paravant. ITT A/CD is the world leader in military communications systems, and this agreement affords our products much greater exposure."
ITT A/CD designs, manufactures and markets Military Command and Control Communication Systems and radio products used in U.S. and international military networks.
Paravant is a manufacturer of rugged, portable computers and communication interfaces utilized in outdoor settings and the medical marketplace. Paravant also offers extensive customization services to modify its standard products to the specific needs of the end-users. The Company's laptop and hand-held processors are designed and built to function in adverse environments under harsh weather, climate and operational conditions. Insulated from temperature extremes, flying debris, shock, vibration, moisture and humidity, its products have a reputation for high-level performance and reliability in difficult circumstances. Paravant's products are also sold to the medical products marketplace because of their reliability, complete configuration control and ability to meet stringent design specifications (including FDA requirements). The Company's products are sold to the U.S. and foreign military establishments, other government agencies and commercial enterprises.
This press release contains forward-looking statements which are inherently subject to risks and uncertainties. The Company's actual results could differ materially from those currently anticipated due to a number of factors, including, but not limited to, the budgetary and appropriation policies of the Company's governmental customers, the competitive environment for the Company's products and services, the timing of new orders, the degree of market penetration of the Company's new products, and other factors set forth in reports and other documents filed by Company with the Securities and Exchange Commission from time to time.
CONTACT: Paravant Computer Systems, Inc.
Kevin Bartczak, CFO
(407) 727-3672 ext. 304
or
INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.
Caroline Royall, (212) 836-9611
Linda Latman, (212) 836-9609
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