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VSI awarded JHMCS contracts valued at more than $100 million
San Jose, Calif. (October 31, 2005) - Vision Systems International, LLC (VSI), a leader in advanced Helmet Mounted Display (HMD) technology, today announced the
receipt of several new contracts with a total value of more than $100 million.
The Boeing Company awarded VSI a contract for the delivery of more than 500 additional Joint Helmet Mounted Cueing Systems
(JHMCS). VSI also received direct contracts from the United States Navy and Air Force for spares and test equipments in support
of the JHMCS program.
Under the production contract, VSI will provide JHMCS systems, including spares, technical support and support equipment for
the Full Rate Production –Lot 2 (FRP-2) acquisition. This procurement fills U.S. government domestic requirements for the
USAF F-15 and F-16, ANG F-15, USN F/A-18 Single seat and Dual Seat platforms as well as foreign military sales production
and spares commitments.
The JHMCS provides the pilot with “first look, first shot” high off-boresight weapons engagement capabilities. The system
enables the pilot to accurately cue onboard weapons and sensors against enemy aircraft and ground targets while performing
high-G aircraft maneuvers. Critical information and symbology, such as targeting cues and aircraft performance parameters,
are graphically displayed directly on the pilot’s visor.
VSI was established in 1996 as a joint venture between EFW, Inc., an Elbit Systems of America company and a subsidiary of
Elbit Systems Ltd (NASDQ: ESLT), and Rockwell Collins (NYSE:COL) to develop, manufacture and support fixed wing HMDs worldwide.
With a heritage of more than 35 years of design and development experience in display systems, VSI today is the leading supplier
of fixed wing HMDs. In addition to the JHMCS, VSI is in development of the advanced HMD for the F-35 (JSF), in development
of the QuadEyeTM Night Vision Cueing and Display system (NVCD) for the US Navy, and in production on the DASH (Display and Sight Helmet) Generation
IV HMD under multiple contracts to Lockheed Martin.
This press release contains statements (including certain projections associated with VSI providing displays for the U.S.
Navy and Air Force) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those projected as a result of certain risks and uncertainties, including, but not
limited to U.S. government spending and budgetary policies; potential cancellation or amendments of awards or orders by the
U.S. Navy and Air Force; challenges in the design, development and production of advanced technologies; and competitive product
and pricing pressures. These forward-looking statements are made only as of the date hereof.
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VSI-PR-01
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