Aeroflex Holding Corp. ("Aeroflex") (NYSE: ARX), a leading global provider of high performance microelectronic components and test and measurement equipment, today announced it has shipped all of the Ground Radio Maintenance Automatic Test Systems (“GRMATS”) to the U.S. Marine Corps under the $16.1 million initial release of its $40.5 million indefinite delivery indefinite quantity (“IDIQ”) contract. Approximately $11 million in sales will be recognized in Aeroflex’s second fiscal quarter ending December 31, 2011 with the balance of the initial release to be recognized early in Aeroflex’s fiscal third quarter ending March 31, 2012.
Aeroflex is revising its fiscal second quarter net sales guidance to the high end of its previously announced range of $160 million to $170 million, to $165 million to $170 million.
“The outstanding support and dedication of the U.S. Marine Corps has been crucial in helping us complete the approval process for shipping the GRMATS units,” said Len Borow, Chief Executive Officer of Aeroflex. “The U.S. Marine Corps is an extremely important customer and this process has allowed us to strengthen and deepen that relationship. We look forward to continuing our partnership with the U.S. Marine Corps, as well as other branches of the U.S. military by providing them with state-of-the-art testing solutions.”
GRMATS is a digital, software-defined automatic radio test system based on the Aeroflex 7200 platform, which will be used for test and diagnostic functions for both current and future software-defined, tactical radios. As a result of Aeroflex’s work on GRMATS, the Aeroflex 7200 will be capable of testing the next generation of software defined radios regardless of the manufacturer.
Date: Jan 4, 2012