Tel Instrument Electronics Corp. (“Tel” or “Company”) (NYSE MKT:TIK) announced today that it has received three initial delivery orders from the U.S. Navy totaling $2,839,100 for the CRAFT program.
These initial three delivery orders are for 49 AN/USM-708 and 44 AN/USM-719 Mode 5 IFF test sets and are associated with the $9.5 million five year indefinite-delivery/indefinite-quantity (“IDIQ”) contract announced yesterday. The IDIQ contract is in support of the U.S. Navy, U.S. Marine Corps, U.S. Army and various Foreign Military Sales customers under the Foreign Military Sales program.
Source: Tel Instrument Electronics Corp.
Date: Oct 25, 2013