ICx Technologies(TM) Wins $4.8 Million Award for Fido Explosives Detectors
WASHINGTON–ICx Technologies (NASDAQ: ICXT – News), a developer of advanced sensor technologies for homeland security, force protection and commercial applications, announced today that the U.S. military had awarded it a contract worth $4.8 million for explosives detectors and related technical services. Under an award from the Robotics System Joint Program Office in Warren, Mich., ICx has been contracted to deliver Fido XT™ handheld systems for use in Operations Iraqi Freedom and Enduring Freedom. Fido is an advanced, ultra-sensitive explosives sensor with sensitivity levels comparable to specially trained canines, which are the gold standard for bomb detection. Fido has become the detector-of-choice at entry-control points, and is also being used for military patrols and operations dedicated to identify insurgents. The Fido handheld was named “U.S. Army Top 10 Invention of the Year” in 2005, and again in 2006 for the robotic-based system. According to Colin Cumming, president of ICx Detection and the chief technology officer of ICx, “This is a major win for the company. We are extremely proud of the ability of Fido to help make a difference in the fight against improvised explosive devices. This award is yet another vote of confidence from the armed forces using our systems.” In addition to hardware, a portion of the award is for training services at the ICx test and training range. This 40-acre facility, in a remote and undisclosed location, is fully licensed for controlled storage and use of explosives. The range is specially equipped for training troops and law enforcement personnel in advanced, trace-detection techniques. About ICx Technologies™ ICx Technologies is a leader in the development and integration of advanced sensor technologies for homeland security, force protection and commercial applications. Our proprietary sensors detect and identify chemical, biological, radiological, nuclear and explosive threats, and deliver superior awareness and actionable intelligence for wide-area surveillance, intrusion detection and facility security. By leveraging our unparalleled technical expertise, ICx pioneers the integration of these advanced sensors into effective security and commercial solutions. Statements contained in this press release that are not historical facts are “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements, including statements relating to ICx Technologies’ plans, objectives and expectations for future operations, are uncertain and subject to a variety of risks that could cause actual results to differ materially from those expected by ICx Technologies. You should consider the risk factors described in ICx Technologies’ prospectus as filed with the U.S. Securities and Exchange Commission on November 8, 2007, as well as other filings. The above mentioned contract does not guarantee future revenues and is subject to significant risks and uncertainties which are difficult to predict. Actual results may differ due to a variety of factors, including, without limitation, changing priorities in government budgets, termination due to unilateral government action, and differences in actual and anticipated contract performance, including performance by ICx and other contractors, suppliers and subcontractors. ICx Technologies undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.