MIDS-LVT Block Upgrade 2 Development Order
Carlsbad, Calif. – December 11, 2013 – The U.S. government has awarded Viasat Inc. (Nasdaq:VSAT) a development contract for Block Upgrade 2 (BU2) hardware and software upgrades to its Multifunctional Information Distribution System-Low Volume Terminals (MIDS-LVT) Link-16 terminals, valued at $33,469,487 with options of $5,713,160. The order resulted from a solicitation from Space and Naval Warfare Systems Command (SPAWAR). The order adds new functionality to the MIDS-LVT system fleet worldwide.
“This order reflects the government commitment to maintaining the long-term viability of the MIDS-LVT radios deployed worldwide, ensuring continued Link-16 data link capability for the warfighter many years into the future,” said Dr. Jay Kaufman, general manager, Viasat Tactical Data Links.
MIDS-LVT forms the backbone of the Link-16 network across the U.S. DoD and the international coalition. Core terminal functions include Link-16 data as well as secure voice with TACAN capabilities on selected terminals.
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include, among others, statements that refer to ensuring Link-16 data link capability for many years into the future. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: negative audits by the U.S. government; continued turmoil in the global business environment and economic conditions; delays in approving U.S. government budgets and cuts in government defense expenditures; Viasat’s reliance on U.S. government contracts, and on a small number of contracts which account for a significant percentage of Viasat’s revenues; changes in relationships with, or the financial condition of, key customers or suppliers; reliance on a limited number of third parties to manufacture and supply Viasat’s products; increased competition and other factors affecting the communications and defense industries generally; the effect of adverse regulatory changes on Viasat’s ability to sell products and services; and Viasat’s dependence on a limited number of key employees. In addition, please refer to the risk factors contained in Viasat’s SEC filings available at www.sec.gov, including Viasat’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Viasat undertakes no obligation to update or revise any forward-looking statements for any reason.