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ATK Awarded $55 Million Advanced Anti-Radiation Guided Missile Low Rate Initial Production...
ATK Awarded $55 Million Advanced Anti-Radiation Guided Missile Low Rate Initial Production Contract by the United States Navy Initial Operational Capability (IOC) Scheduled for 2010 AARGM Designed for Compatibility with FA-18C/D, F-35 JSF, EA-6B Prowler, and F-16 Falcon MINNEAPOLIS, Jan. 21 /PRNewswire-FirstCall/ -- ATK (NYSE: ATK) has received a $55 million Low Rate Initial Production (LRIP) contract from the U.S. Navy for the advanced anti-radiation guided missile (AARGM). The contract is for missiles, containers, spares, support/special test equipment, and required production transition activities. The contract provides for AARGM deliveries of sufficient quantity to meet the U.S. Navy's Initial Operational Capability (IOC) in 2010. Under terms of the contract, ATK will provide the weapon systems for use on U.S. Navy and Marine Corps F/A-18C/D aircraft. ATK collaboratively developed AARGM with the U.S. Navy and Italian Air Force AARGM Integrated Product Team, led by the Direct and Time Sensitive Strike Program Office (PMA-242). The AARGM team also includes members from the Naval Air Warfare Center Weapons Division - China Lake, Calif., the Naval Air Systems Command - Patuxent River, Maryland, and multiple industry partners. AARGM is a supersonic, air-launched tactical missile that will be integrated on the FA-18C/D, FA-18E/F, EA-18G and Tornado ECR aircraft. The missile is also designed for compatibility with the F-35 Joint Strike Fighter, EA-6B Prowler and U.S. F-16 Falcon aircraft. Its advanced multi-sensor system, including a Millimeter Wave (MMW) terminal seeker, advanced digital ARH receiver and a Global Positioning System/Inertial Navigation System (GPS/INS), is capable of rapidly engaging traditional and advanced enemy air defense targets as well as non-radar time-sensitive strike targets. The AARGM MMW seeker can operate in concert with the ARH to counter RF shutdown tactics, or in a stand-alone mode to guide to non-emitting targets. AARGM is a network-enabled weapon that will directly receive tactical intelligence information via an embedded receiver and transmit near real-time Weapon Impact Assessment (WIA) reports prior to weapon detonation. AARGM, an upgrade to the U.S. Navy AGM-88 high speed anti-radiation missile (HARM) system, is a U.S. and Italian international cooperative acquisition Category I major acquisition program. The U.S. Navy is the executive agent for the program. ATK is a premier aerospace and defense company with more than 17,000 employees in 21 states and approximately $4.6 billion in revenue. News and information can be found on the Internet at www.atk.com. Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: changes in governmental spending, budgetary policies and product sourcing strategies; the company's competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission. Media Contact: Investor Contact: Tom Van Leunen Steve Wold Phone: 410-412-3218 Phone: 952-351-3056 E-mail: email@example.com E-mail: firstname.lastname@example.org SOURCE ATK media, Tom Van Leunen, +1-410-412-3218, email@example.com, or investors, Steve Wold, +1-952-351-3056, firstname.lastname@example.org, both for ATK