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American Defense Systems, Inc. (AMEX: EAG), offering advanced
solutions in the design, fabrication and installation of transparent and
opaque armor, security doors, windows and curtain wall systems,
announced that the Company has recently secured multiple contracts from
the U.S. Army and Marine Corps to provide Crew Protection Up-Armor Kits
and spare parts for multiple types of engineering and construction
vehicles. The total value of the new contracts is $7.7 million and will
be realized during the 2008 fiscal year.
Mr. Anthony J. Piscitelli, Chairman & Chief Executive Officer of
American Defense Systems, Inc., stated, “We
are pleased to announce this latest round of Crew Protection Up-Armor
Kits and spare parts to follow on orders from the U.S. Army and Marine
Corps as we look to continue to support the protection of our troops
overseas. With these order to be realized in the current fiscal year, we
are progressing well towards our objective of full year revenue growth
of between 29 percent and 48 percent year-over-year.”
About American Defense Systems, Inc.
American Defense Systems, Inc. “ADSI”
(AMEX: EAG) offers advanced solutions in the design, fabrication,
and installation of transparent and opaque armor, security doors,
windows and curtain wall systems for use by military, law enforcement,
homeland defense and corporate customers. ADSI engineers also specialize
in developing innovative, functional and aesthetically pleasing security
applications for the mobile and fixed infrastructure physical security
industry.
For more information about American Defense Systems, Inc. please visit
the corporate Web site at http://www.adsiarmor.com.
Some of the statements made by American Defense Systems, Inc. (“ADSI”)
in this press release, including, without limitation, statements
regarding ADSI’s anticipated future growth,
are forward-looking in nature. ADSI intends that any forward-looking
statements shall be covered by the safe harbor provisions for such
statements contained in the Private Securities Litigation Reform Act of
1995. Statements that are predictive in nature, that depend upon
or refer to future events or conditions, or that include words such as “may,”
“will,” “should,”
“expects,” “anticipates,”
“intends,” “plans,”
“believes,” “estimates,”
“predicts,” “potential,”
“continues” and
similar expressions are forward-looking statements. ADSI cautions you
that forward-looking statements are not guarantees of performance. ADSI
undertakes no obligation and disclaims any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise. Forward-looking statements
involve known and unknown risks and uncertainties that may cause ADSI’s
actual future results to differ materially from those projected or
contemplated in the forward-looking statements. ADSI believes that these
risks include, but are not limited to: ADSI’s
reliance on the U.S. government for a substantial amount of its sales
and growth; decreases in U.S. government defense spending; ADSI’s
ability to contract further with the U.S. Department of Defense; ADSI’s
ability to comply with complex procurement laws and regulations;
competition and other risks associated with the U.S. government bidding
process; changes in the U.S. government’s
procurement practices; ADSI’s ability to
obtain and maintain required security clearances; ADSI’s
ability to realize the full amount of revenues reflected in its backlog;
ADSI’s reliance on certain suppliers; and
intense competition and other risks associated with the defense industry
in general and the security-related defense sector in particular.
Additional information concerning these and other important risk factors
can be found under the heading “Risk Factors”
in ADSI’s filings with the Securities and
Exchange Commission, including, without limitation, its registration
statement on Form 10. Statements in this press release should be
evaluated in light of these important factors.