ANN ARBOR, Mich., Sept. 9, 2015 /PRNewswire/ -- Arotech Corporation's [Nasdaq GM: ARTX] Training and Simulation Division (ATSD) announced that $10.6 million of support options for its U.S. Army Virtual Clearance Training Suite (VCTS) and U.S. Air National Guard Boom Operator Simulation System (BOSS) programs have been exercised. These options for FY2016 support are currently funded to $3.4 million, with the remaining $7.2 million expected to be incrementally funded by the end of 2016.
The support option provided includes on-site operator and maintenance personnel in addition to hardware and software support of the installed systems. VCTS is currently installed at 27 Army bases worldwide and continues to be upgraded to match actual methods and equipment used in the route clearance mission. BOSS has recently been certified by the U.S. Air Force for boom operator training missions in lieu of actual flight time. Training systems have been delivered to 11 of the 16 Air National Guard Refueling Wings with the remaining systems expected to be completed by mid-2016.
"We are pleased to continue support for the training and readiness of our armed service men and women who use the VCTS and BOSS," commented Mark Nethers, Arotech Training and Simulation Division Logistics Manager. "Our skilled on-site personnel, with support and training from the dedicated service and engineering teams at our production facilities, provide unparalleled service to the field."
Revenues expected from these options support the Company's current outlook and strengthens its backlog.
About Arotech's Training and Simulation Division
Arotech's Training and Simulation Division (ATSD) provides world-class simulation based training solutions. ATSD develops, manufactures, and markets advanced high-tech multimedia and interactive digital solutions for engineering, use-of-force, and operator training simulations for military, law enforcement, security, municipal and private industry personnel. The division's fully interactive operator training systems feature state-of-the-art vehicle simulator technology enabling training in situation awareness, risk analysis and decision-making, emergency reaction and avoidance procedures, conscientious equipment operation, and crew coordination. The division's use-of-force training products and services allow organizations to train their personnel in safe, productive, and realistic environments. The division provides consulting and developmental support for engineering simulation solutions. The division also supplies pilot decision-making support software for the F-15, F-16, F-18, F-22, and F-35 aircraft, simulation models for the ACMI/TACTS air combat training ranges, and Air-Refueling Boom Arm simulators.
About Arotech Corporation
Arotech Corporation is a leading provider of quality defense and security products for the military, law enforcement and homeland security markets, including multimedia interactive simulators/trainers and advanced zinc-air and lithium batteries and chargers. Arotech operates two major business divisions: Training and Simulation, and Power Systems.
Arotech is incorporated in Delaware, with corporate offices in Ann Arbor, Michigan, and research, development and production subsidiaries in Michigan, South Carolina, and Israel. For more information on Arotech, please visit Arotech's website at www.arotech.com.
Investor Relations Contacts:
Brett Maas / Rob Fink
(646) 536.7331 / (646) 415.8972
Except for the historical information herein, the matters discussed in this news release include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks and uncertainties that may cause actual results to vary materially. These risks and uncertainties include, but are not limited to, risks relating to: product and technology development; the uncertainty of the market for Arotech's products; changing economic conditions; delay, cancellation or non-renewal, in whole or in part, of contracts or of purchase orders (including as a result of budgetary cuts resulting from automatic sequestration under the Budget Control Act of 2011); and other risk factors detailed in Arotech's most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and other filings with the Securities and Exchange Commission. Arotech assumes no obligation to update the information in this release. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release.
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SOURCE Arotech Corporation