MINNEAPOLIS, Dec. 14, 2010 /PRNewswire/ -- ATK (NYSE: ATK) announced that it has been awarded a $4.5-million contract from the U.S. Air Force for the limited production phase of the High-Speed Anti-Radiation Missile (HARM) Control Section Modification (HCSM) program.
The HCSM program adds geo-specific targeting capability to the legacy U.S. Air Force HARM (AGM-88C) control section. With the addition of an inertial measurement unit, a GPS receiver, modified guidance software and platform provided coordinates, the Air Force's HARM missiles will have the capability to attack targets based on their geographic location and avoid zones of exclusion.
ATK is one of two companies awarded a limited production phase contract. In this 18-month phase, the Air Force will evaluate overall compliance with the HCSM program's technical objectives and the companies' ability to reliably produce modification kits at the lowest cost. The evaluation will include both ground and flight tests. Following the technical evaluation of both companies, the Air Force plans to award a single full-rate production contract.
ATK's HCSM solution leverages flight-proven and in-production control section hardware from AGM-88E Advanced Anti-Radiation Guided Missile program. ATK is currently delivering production AGM-88E missiles for the United States Navy and the Italian Air Force.
"We are very pleased that ATK has been selected to participate in the limited production phase of the HCSM program," said Bill Kasting, Vice President and General Manager of ATK Defense Electronics Systems. "We have acquired a great deal of experience in the lab, in flight testing and in limited rate production with fused anti-radiation homing and navigation solutions for missiles. We are confident that we can provide a competitively priced solution that will meet the Air Force's mission requirements and also provide joint commonality and cost savings to the services."
ATK is a premier aerospace and defense 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: changes in governmental spending, budgetary policies and product sourcing strategies; the company's competitive position; 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.