ATK Wins $65.8 Million Army Contract for XM25, Individual Semi-Automatic Airburst System
"Game Changing" Weapon Allows Soldiers to Quickly Engage Targets With Greater Precision While Reducing Risk of Collateral Damage
Engineering and Manufacturing Development Phase Contract Brings Program Closer to Army-Wide Fielding
MINNEAPOLIS, March 28, 2011 /PRNewswire/ -- ATK (NYSE: ATK) has received a $65.8 million Engineering and Manufacturing Development (EMD) contract from the U.S. Army's Program Executive Office (PEO) Soldier for its XM25, Individual Semi-Automatic Airburst System. The 30-month contract calls for the continuing design, integration, production, and testing of full-up systems to ensure the weapon's final design meets performance requirements and is production-ready prior to fielding.
"The XM25 provides the soldier on the ground a precision weapon to quickly and accurately engage targets behind cover or exposed targets, at ranges and accuracies not seen in today's small arms," said Bruce DeWitt, Vice President and General Manager of ATK's Advanced Weapons Division. "A soldier using basic rifle marksmanship skills can effectively engage targets in less than five seconds while also reducing the chances for collateral damage."
The XM25 consists of a rifle that fires a 25mm airbursting round that is programmed by the weapon's integrated target acquisition and fire control system to detonate directly above an intended target. The system allows soldiers to quickly and accurately engage targets by displaying an adjusted aim point based on range, environmental factors, and user inputs. The weapon's target acquisition and fire control integrates a thermal capability with direct-view optics, laser rangefinder, compass, fuze-setter, ballistic computer, laser pointer and illuminator. These capabilities enable the weapon to be used during day or night and in all weather conditions.
The Army is currently conducting a forward operational assessment with XM25 prototype weapons deployed to Afghanistan. This effort began in November 2010. The Army's Project Manager Soldier Weapons conducted new equipment training with select units and is monitoring the XM25's use and performance. The weapons are actively carried on patrols and in various combat outposts in areas that are experiencing high levels of enemy activity. Soldier feedback from this assessment will assist future decisions regarding budget, tactics, basis of issue, and improvements soldiers want to see in the weapon's fielded version.
ATK is the prime contractor and systems integrator for the XM25 program. Program management is headquartered at ATK's Advanced Weapons Division in Plymouth, Minn. Program partners include Heckler & Koch, Sterling, Va. and L-3 Brashear, Pittsburgh, Pa.
ATK is an aerospace, defense, and commercial products company with operations in 24 states, Puerto Rico, and internationally, and revenues of approximately $4.8 billion. News and information can be found on the Internet at www.atk.com.
Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: the challenges of developing new advanced weapons systems, changes in governmental spending, budgetary policies and product sourcing strategies; the company's competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.
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