Press Releases

Arotech Announces $8.1 Million in Air Warfare Simulation Contracts and Awards

New Training and Simulation Division orders to be recognized over five years

ANN ARBOR, Mich., Sept. 16, 2015 /PRNewswire/ -- 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.

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.

Arotech's Training and Simulation Division consists of FAAC Incorporated (www.faac.com), MILO Range Training Systems (www.milorange.com), and Realtime Technologies (www.simcreator.com).

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
Hayden IR
(646) 536.7331 / (646) 415.8972
ARTX@haydenir.com

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