HANOVER, M.D., Sept. 23, 2013 (GLOBE NEWSWIRE) -- KEYW Corporation (Nasdaq: KEYW ) announced today it has received several new contracts in the Sensors and Processing Systems Division of its Government Products Sector. These awards expand its technology portfolio of airborne ISR and mapping capabilities with automated processing, exploitation, and dissemination for the Warfighter and the Intelligence Community.
The Air Force selected KEYW as one of five awardees to develop and test new Automated Target Recognition (ATR) algorithms for the Air Force Research Laboratory's Compact ATR Sustainable Environment (CASE) Program. CASE is a seven-year, indefinite delivery/indefinite quantity contract valued at $24 million where KEYW is leading a diverse team of large businesses, small businesses, and universities that provide the Government with end-to-end capabilities across all 12 of the CASE technical areas. The KEYW Team will develop and deploy algorithms that convert vast amounts of sensor data into actionable intelligence.
Furthermore, the Air Force has elected to continue KEYW's work developing and transitioning new image compression techniques for Synthetic Aperture Radar (SAR). This additional work extends the current contract's period of performance by an additional 34 months. The anticipated funding is $4 million. This work follows a competitive (Phase 1) bidding process that KEYW won to develop new methods to compress SAR for the Air Force's Reduction of Data Using Compression Enhancements (RDUCE).
KEYW has also been awarded additional funding for continued support to the Naval Research Lab to collect and exploit Synthetic Aperture Radar using its Multi-Band SAR system (MB-SAR). This new work will support a mission to locate downed World War II airplanes in Papua New Guinea.
Len Moodispaw, Chairman and CEO of KEYW stated, "I continue to be impressed with the depth and breadth of talent within our Sensor and Processing Systems Division. Their experience in developing and deploying airborne systems complements our airborne operations division enabling end-to-end multi-sensor solutions."
These automated processing, exploitation, and dissemination tools are integral parts of our KeyRadar, EO/IR/LiDAR, and SIGINT product offerings. KEYW will showcase these product offerings at GEOINT 2013 in Tampa, Florida, October 13-16, 2013.
About KEYW
KEYW provides agile cyber superiority, cybersecurity, and geospatial intelligence solutions for U.S. Government intelligence and defense customers and commercial enterprises. We create our solutions by combining our services and expertise with hardware, software, and proprietary technology to meet our customers' requirements. For more information contact KEYW Corporation, 7740 Milestone Parkway, Suite 400, Hanover, Maryland 21076; Phone 443-733-1600; Fax 443-733-1601; E-mail investors@keywcorp.com ; or on the Web at www.keywcorp.com .
Forward-Looking Statements: Statements made in this press release that are not historical facts constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements about our future expectations, plans and prospects, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," "potential," "opportunities", and similar expressions. Our actual results, performance or achievements or industry results may differ materially from those expressed or implied in these forward-looking statements. These statements involve numerous risks and uncertainties, including but not limited to those risk factors set forth in our Annual Report on Form 10-K, dated and filed March 12, 2013 with the Securities and Exchange Commission (SEC) as required under the Securities Act of 1934, and other filings that we make with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements. KEYW is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Chris Donaghey 443-733-1600
