NEWS RELEASEFor Immediate Release | |
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Technical Communications Corporation |
Contact: Michael P. Malone, |
TCC WINS SECURE VOICE/FAX UPGRADE PROGRAMCONCORD, MA (March 29, 1999) - Technical Communications Corporation (NASDAQ: TCCO) today announced that it has received a $450K contract to secure the voice and fax communications of a middle-eastern military tactical network. TCC will provide its CSD3600 telephone and CSD3700 fax encryption equipment which was selected over the competition after an extensive year long field trial. This award is for the initial deployment phase, which is planned to continue with succeeding phases during the next three years. The order is expected to ship within the next three months. "This a significant win for TCC " said Carl Guild, TCC’s President and CEO. "It establishes another strong TCC position in a mission-critical network where high reliability, robust performance and cost effectiveness are required. Our equipment provides strong point-of-use security and is being applied to a wide range of commercial and government requirements. TCC’s commitment to the long-term support of our customers’ expanding networks gives us a valued advantage and the opportunity for future business." "Our traditional government and military markets remain strong but unpredictable as to timing. However, we believe the funding constraints that have delayed a number of our international projects are starting to be relieved." Guild said. Matters discussed in this news release, including any discussion of or impact, expressed or implied, on the Company’s anticipated operating results and future earnings, including statements about the Company’s ability to achieve growth and profitability, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended. The Company’s operating results may differ significantly from the results indicated by such forward-looking statements. The Company’s operating results may be affected by many factors, including but not limited to future changes in export laws or regulations, changes in technology, the effect of foreign political unrest, the ability to hire, retain and motivate technical, management and sales personnel, the risks associated with the technical feasibility and market acceptance of new products, changes in telecommunications protocols, the effects of changing costs, exchange rates and interest rates, the Company's ability to renegotiate its line of credit with its banks, the correctness of management's judgement that certain expenditures will benefit the Company in the future, and the accuracy of management's estimates of the value of the Company's assets and the adequacy of its reserves. These and other risks are detailed from time to time in the Company’s filings with the Securities and Exchange Commission, including Form 10-K for the fiscal year ended October 3,1998 and Form 10-Q for the quarter ended January 2, 1999. | |