American Defense Systems, Inc. Secures $7.7 Million in New Defense Contracts
25 June 2008 - 10:30PM
Business Wire
American Defense Systems, Inc. (AMEX: EAG), offering advanced
solutions in the design, fabrication and installation of
transparent and opaque armor, security doors, windows and curtain
wall systems, announced that the Company has recently secured
multiple contracts from the U.S. Army and Marine Corps to provide
Crew Protection Up-Armor Kits and spare parts for multiple types of
engineering and construction vehicles. The total value of the new
contracts is $7.7 million and will be realized during the 2008
fiscal year. Mr. Anthony J. Piscitelli, Chairman & Chief
Executive Officer of American Defense Systems, Inc., stated, �We
are pleased to announce this latest round of Crew Protection
Up-Armor Kits and spare parts to follow on orders from the U.S.
Army and Marine Corps as we look to continue to support the
protection of our troops overseas. With these order to be realized
in the current fiscal year, we are progressing well towards our
objective of full year revenue growth of between 29 percent and 48
percent year-over-year.� About American Defense Systems, Inc.
American Defense Systems, Inc. �ADSI� (AMEX: EAG) offers advanced
solutions in the design, fabrication, and installation of
transparent and opaque armor, security doors, windows and curtain
wall systems for use by military, law enforcement, homeland defense
and corporate customers. ADSI engineers also specialize in
developing innovative, functional and aesthetically pleasing
security applications for the mobile and fixed infrastructure
physical security industry. For more information about American
Defense Systems, Inc. please visit the corporate Web site at
http://www.adsiarmor.com. Some of the statements made by American
Defense Systems, Inc. (�ADSI�) in this press release, including,
without limitation, statements regarding ADSI�s anticipated future
growth, are forward-looking in nature. ADSI intends that any
forward-looking statements shall be covered by the safe harbor
provisions for such statements contained in the Private Securities
Litigation Reform Act of 1995. Statements that are predictive in
nature, that depend upon or refer to future events or conditions,
or that include words such as �may,� �will,� �should,� �expects,�
�anticipates,� �intends,� �plans,� �believes,� �estimates,�
�predicts,� �potential,� �continues� and similar expressions are
forward-looking statements. ADSI cautions you that forward-looking
statements are not guarantees of performance. ADSI undertakes no
obligation and disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise. Forward-looking statements involve
known and unknown risks and uncertainties that may cause ADSI�s
actual future results to differ materially from those projected or
contemplated in the forward-looking statements. ADSI believes that
these risks include, but are not limited to: ADSI�s reliance on the
U.S. government for a substantial amount of its sales and growth;
decreases in U.S. government defense spending; ADSI�s ability to
contract further with the U.S. Department of Defense; ADSI�s
ability to comply with complex procurement laws and regulations;
competition and other risks associated with the U.S. government
bidding process; changes in the U.S. government�s procurement
practices; ADSI�s ability to obtain and maintain required security
clearances; ADSI�s ability to realize the full amount of revenues
reflected in its backlog; ADSI�s reliance on certain suppliers; and
intense competition and other risks associated with the defense
industry in general and the security-related defense sector in
particular. Additional information concerning these and other
important risk factors can be found under the heading �Risk
Factors� in ADSI�s filings with the Securities and Exchange
Commission, including, without limitation, its registration
statement on Form 10. Statements in this press release should be
evaluated in light of these important factors.
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