SAN DIEGO--(BUSINESS WIRE)--March 21, 2005--SYS Technologies, (AMEX: SYS), a leading provider of real time information technology solutions to industrial and U.S. government customers, announced today that it has been awarded funding of $1.6 million to develop the Undersea Warfare Decision Support System (USW-DSS) for the U.S. Navy. The work will be performed primarily in SYS' San Diego offices.
USW-DSS is a system which provides an integrated, near real-time, net-centric anti-submarine warfare and mine warfare command and control capability. The system will provide the fleet with full capability to plan and control undersea warfare operations. USW-DSS utilizes the alignment of sensors to provide improved situational awareness, thus enhancing risk and vulnerability assessment, optimization of operations, and allocation of resources, all of which enhance the lethality and survivability of the fleet.
Cliff Cooke, Chief Executive Officer of SYS, said, "The selection of SYS Technologies is recognition of our expertise in network centric architectures and enterprise integration. Our capabilities in the areas of software integration and geospatial information processing, as well as our success on similar projects such as Composeable FORCEnet, enable us to offer this comprehensive solution to our fleet." Cooke continued, "The award of this contract provides further validation of our acquisition strategy. The software development expertise of Polexis, which was acquired by SYS one year ago, coupled with SYS' decision support systems knowledge, enabled us to provide a comprehensive solution to the customer."
About SYS Technologies
SYS Technologies (AMEX: SYS), is a leading provider of real-time decision support capabilities to the U.S. Federal government and large industrial customers. SYS Technologies' expertise is in real time sensor capture, communications, applications development, integration and data visualization which forms the basis of its current success and future growth.
It customizes this expertise to the needs of its customers. For the Department of Defense, we provide command and control systems to operational commanders. For the U.S. Department of Homeland Security and various state agencies, it provides real-time safety and security products and services, including sensor networking products and end-to-end solutions. For large industrial customers in the telecommunications, utilities, construction, chemical, and biomedical industries, its products and services are used to intelligently and profitably manage remote assets.
SYS is headquartered in San Diego at 5050 Murphy Canyon Road, San Diego, California 92123 and has principal offices in California, Virginia and Washington, DC. For additional information, visit the SYS Technologies web site at http://www.systechnologies.com.
Notice Regarding Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release regarding the Company's strategies, plans, objectives, expectations, and future operating results are forward-looking statements. Although SYS believes that the expectations reflected in such forward-looking statements are reasonable at this time, it can give no assurance that such expectations will prove to have been correct. Actual results could differ materially based upon a number of factors including, but not limited to, the state of economy, competition, unanticipated business opportunities, availability of financing, market acceptance, government regulation, dependence on key personnel, limited public markets and liquidity, shares eligible for future sale, continuation and renewal of contracts and other risks that may apply to the Company, including risks that are disclosed in the Company's Securities and Exchange Commission filings, including its report on Form 10QSB filed on November 4, 2004.
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