Business
Allen-Vanguard receives $35 million U.S. order for electronic counter-measures equipment
OTTAWA, June 9 /CNW Telbec/ - Allen-Vanguard Corporation (the "Company" or "Allen-Vanguard") (TSX...
About this update from Verisante Technology, Inc.
[{"type":"text","content":"\n\n\n\nOTTAWA, June 9 /CNW Telbec/ - Allen-Vanguard Corporation (the "Company"\nor "Allen-Vanguard") (TSX: VRS) of Ottawa, today announced that it has\nreceived an order valued at USD $35 million from General Dynamics Armament and\nTechnical Products ("General Dynamics") to supply spares for vehicle mounted\nelectronic counter-measures equipment ("ECM" or "jammers") for a U.S.\nDepartment of Defense ("DoD") customer.\n\n\nThe order announced today is part of approximately $50 million in ECM\norders the Company previously stated were in progress when it announced its\nsecond quarter financial results on May 15, 2008. "This spares order for DoD\nrepresents a commitment to the extensive installed base of our most\nbattle-proven jammer," said David E. Luxton, President and CEO. "We are\npleased to see this further increment to our backlog of ECM orders on the\nheels of the $10 million ECM order announced just days ago."\n\n\nThe Company stated that it expects to begin delivery of the order in the\nfourth quarter of the current fiscal year and to complete delivery of the main\nbulk of the order in the first quarter of fiscal 2009, which begins October 1,\n2008.\n\n\nForward looking statements\n\n\nThis press release may contain forward-looking statements, which reflect\nAllen-Vanguard's current expectations regarding future events, its strategy,\nexpected performance and condition. Forward-looking statements include\nstatements that are predictive in nature, that depend upon or refer to future\nevents or conditions, or that include words such as "expects," "anticipates,"\n"plans," "believes," "estimates" or negative versions thereof and similar\nexpressions. In addition, any statement that may be made concerning future\nperformance, strategies or prospects, and possible future acquisitions or\ndispositions, is also a forward-looking statement. Forward-looking statements\nare based on current expectations and projections about future events and are\ninherently subject to, among other things, risks, uncertainties and\nassumptions about the Company and economic factors. Forward-looking statements\nare not promises or guarantees of future performance, and actual events and\nresults could differ materially fro...