HAIFA, Israel, Sept. 11, 2016 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ and TASE: ESLT) ("Elbit Systems") announced today that it was awarded a contract valued at over $90 million from an Asia-Pacific country, for the supply of SPECTRO™ XR advanced electro-optic systems. The contract will be performed over a four-year period.
SPECTRO XR is an ultra-long-range, day/night, multi-spectral electro-optical ISTAR system. At its heart is a large multi-spectral imaging system combining multiple cameras into one, allowing SPECTRO XR to significantly improve performance without increasing size and weight. The implementation of fully digital sensors and lasers, with a very high level of stabilization, provides users with high performance in adverse weather conditions.
The modular design enables users to select the configuration best suited to their needs, both in terms of performance and cost. The system can be installed on a variety of platforms including rotary and fixed-wing airborne platforms, aerostats, naval vessels and land applications. A wide variety of command and control interfaces enables simple integration of the SPECTRO XR with various other systems onboard, such as mission computers, radar, data-links and helmet-mounted tracking systems.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, commented: "We are very pleased with this contract, demonstrating Elbit Systems' ability to foresee the market's requirements and to develop the most cutting-edge systems suitable for our customers' demanding needs. The variety of systems and solutions we have recently launched, represent a range of different fields of activities within Elbit Systems for which our customers worldwide have expressed interest, and we hope other customers will follow."
SPECTRO XR was designed based on Elbit Systems' 20 year legacy in developing EO payloads such as the AMPS strategic payload and the CoMPASS™ family, with more than 1,000 systems in operational use around the world today.
About Elbit Systems
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.
Joseph Gaspar, Executive VP & CFO
Dalia Rosen, VP, Head of Corporate Communications
Elbit Systems Ltd.
GK Investor Relations
This press release contains forward‑looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current fact. Forward-looking statements are based on management's expectations, estimates, projections and assumptions. Forward‑looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results, performance and trends may differ materially from these forward‑looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward‑looking statements speak only as of the date of this release. The Company does not undertake to update its forward-looking statements.
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SOURCE Elbit Systems Ltd.