MINNEAPOLIS, Oct. 7 /PRNewswire-FirstCall/ -- Alliant Techsystems (NYSE: ATK) has been awarded a $49.3 million contract by the U.S. Navy for the procurement of AAR-47 Missile Warning System components for the U.S. military and allies. These systems include both the AAR-47 A(V)2 and B (V)2 configurations. The majority of work will be performed at ATK's Clearwater, Fla., location, and is expected to be completed in early 2012.
ATK's AAR-47 missile warning system is an electronic warfare system designed to protect helicopters and aircraft against surface-to-air missile threats. The AAR-47 missile warning system is installed on aircraft flown by the U.S. and its allies in more than 16 countries. ATK has been under contract to the U.S. Navy and U.S. Marine Corps since 1991 to manufacture the AAR-47 electronic warfare system. The systems are installed on more than 2,600 fixed and rotary-wing aircraft including the C-5, C-17, C-130, P-3, AH-1W, UH-1N, V-22, and numerous others.
"ATK's AAR-47 missile warning system has been credited with saving dozens of aircraft and their crews from attack," said Bill Kasting, vice president and general manager of ATK's Integrated Systems division. "The innovative and affordable combination of AAR-47's reliable sensor technology and mature processing algorithms are combat-proven and protecting our warfighters today."
ATK is a premier aerospace and defense company with more than 18,000 employees in 22 states, Puerto Rico and internationally, and revenues of approximately $4.8 billion. News and information can be found on the Internet at www.atk.com.
Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: assumptions related to the performance of the AAR-47, changes in U.S. and foreign government spending, budgetary policies and product sourcing strategies; the company's competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.
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