SubscribeL-3 Communications Security and Detection Systems, Inc. has been awarded a Transportation Security Administration (TSA) maintenance contract valued at $50 million.
The direct award of this important contract is a result of L-3's unparalleled capabilities and commitment to its customers. The potential full-term contract, with annual options to extend, is to span five years. Each follow-on year is valued at approximately $50 million, bringing the total potential of the contract to $250 million, with possible adjustments based on further deployments of L-3 equipment.
The indefinite delivery/indefinite quantity (ID/IQ) contract specifies that L-3 will continue to provide maintenance for the eXaminer 3DX® explosives detection systems (EDS) and Linescan TIP-Ready X-ray (TRX) systems that are presently installed at checkpoints in the nation's largest airports. L-3 currently provides scheduled and unscheduled maintenance for these deployed systems. The new contract will also cover any additional L-3 EDS systems that are purchased during the period of the contract.
"As our EDS and TRX installation base continues to grow, L-3 is prepared to ensure that systems are accurately maintained in order to secure the traveling public," said Allen Barber, president of L-3 Security and Detection Systems. "This direct contract with TSA provides L-3 with an even closer working relationship with its customers and enhances our ability to address their concerns in a timely manner."
L-3's global customer service organization - the industry's largest - employs more than 300 maintenance specialists and technicians committed to rapidly responding to customer needs.
Woburn, MA, May 10, 2005
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Except for historical information contained herein, the matters set forth in this news release are forward looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates" and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company's Safe Harbor Compliance Statement for Forward-looking Statements included in the company's recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
