Company description::
News Release
May 19, 2004
Spectrum Announces Award of $600,000 Contract to Build Aircraft Support Systems
FORT WALTON BEACH, Fla., May 19, 2004 - Spectrum Sciences & Software Holdings Corp. (SPSC), highly focused on homeland security through the provision of full-service, quality solutions in response to complex and diverse government initiatives, announced an award of a contract to build B-2 Aircraft Maintenance Stands, for the Warner-Robins Air Logistics Center. This contract has an estimated value of $600,000. Additionally, manufacturing has received new contracts from the Department of the Navy totaling $368,000, for a total new awards value of over $968,000 in support of the War on Terrorism.
“As the global geopolitical landscape becomes increasingly more uncertain, we believe that Spectrum's proprietary technologies and services are of continually higher value to the American government and to our allies," stated William Ham, Spectrum's president and CEO. These are the component contracts and relationships which we anticipate will culminate in superior top line performance this next year and demonstrate not only our proven viability - but our capabilities in capturing and fully exploiting national and international contracts - and to do so on a high margin basis.
"Specifically, the B-2 Aircraft Maintenance Stand provides the military with increased combat capabilities and mobility. These contracts continue to add up as our product development team continues to make inroads into new areas of opportunity within the Department of Defense. We are excited by the continued growth of the company, and remain committed to building incremental shareholder value," Mr. Ham continued. "Spectrum's management and board of directors continues to remain fully committed to growth in all of our divisions both organically and growth through accretive acquisitions."
About Spectrum Sciences & Software
Spectrum Sciences & Software Holdings Corp. is highly focused on homeland security through the provision of full-service, quality solutions in response to complex and diverse government initiatives. Spectrum is dedicated to providing innovative, dependable and cost-effective products and services to a broad range of government customers, and is headquartered in Fort Walton Beach, Florida. Founded in 1982, the company currently has over 130 employees. Primary markets include engineering services, operation, maintenance, information technology and manufacturing. Spectrum provides and maintains Software Model Development and Safety Footprint Development to the United States Air Force, the United States Army, the United States Navy and many of our allied nations. Spectrum also operates and manages one of the largest air-to-ground bombing ranges in the United States, located in Gila Bend, Arizona. The Information Technology Division provides a full range of IT services including web site development and hosting, software development and GIS services. The company's manufacturing division is ISO 9001:2000-qualified and provides a broad array of services for both commercial and Department of Defense customers. The company has, or has had, contracts with the United States Air Force, including the Air Combat Command (ACC), the Air Force Reserve Command (AFRC); the Air Force Special Operations Command (AFSOC); the Air National Guard (ANG); the Department of Navy, including United States Navy (USN); United States Marine Corps (USMC); the Royal Australian Air Force (RAAF); the Royal Air Force (RAF) and the German Air Force (GAF). To find out more about Spectrum, visit our website at http://www.specsci.com.
Forward-Looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE: Spectrum Sciences & Software Holdings Corp.
Spectrum Sciences & Software Holdings Corp. (SPSC) is a featured company on HomelandDefenseStocks.com
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Contact:
Spectrum Sciences & Software Holdings Corp.,
Fort Walton Beach
Investor Relations:
Steve Cook, 800-368-5278 ext. 44
steve.cook@specsci.com
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