Arotech Corporation's (Nasdaq GM: ARTX) Training and Simulation Division (ATSD) announced up to $8.1 million in new contracts and awards for its Air Warfare Simulation Group. These orders include a $4 million five-year sole source award for FAAC's air-to-air training range software, as well as significant awards to enhance its Zone Acquisition Process software, which is embedded in every U.S. Air Force fighter aircraft to assist the pilot in weapon employment. Funding associated with these new orders totals $3.4 million , with the remainder to be incrementally funded over the next five years.
"Our ability to provide our customers with high-speed, highly-accurate weapon simulators is a testament to the sophistication of our technology and more than four decades of development," commented Kurt Flosky , Arotech Training and Simulation Division President. "Our Air Warfare Simulation applications add significant value to fighter pilots by providing consistent, accurate weapon employment information during live and simulated training sessions, as well as during combat."
Revenues expected from these contracts and awards support the Company's current outlook for full-year 2015 and strengthen its backlog.
Source: Arotech Corporation
Date: Sep 16, 2015