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ROANOKE, Va., April 7, 2009 – ITT Corporation (NYSE: ITT) today announced that it has received a $121 million order from the U.S. Army Research, Development & Engineering Command Acquisition Center for the AN/PVS-14, ITT’s most popular night vision goggle. This order represents the fifth largest in the company’s history and occurs just one week after the company’s Night Vision division celebrated its 50th anniversary
The AN/PVS-14 is a high-performance, lightweight and reliable night vision goggle that provides enhanced resolution for target recognition and identification. These rugged devices can be hand-held, head- or weapon-mounted, or fitted to a camera. The AN/PVS-14 operates on a single AA battery, and comes equipped with ITT’s proprietary thin-filmed Pinnacle® image intensifier tube. The Pinnacle® tube has the ability to detect available light more than 10 times the power of previous generations.
“The Omnibus VII contract has allowed us to provide the Army with our night vision goggles, which are a critical component for soldiers to safely perform nighttime missions,” said Mike Hayman, president and general manager, ITT Night Vision. “We are pleased to receive this latest order, and are proud to support our nation’s protectors.”
ITT has received Omnibus VII orders for more than 300,000 AN/PVS-14 monocular devices, 3,000 AN/PVS-7 goggles and 100,000 associated spare image intensifier tubes. ITT continues to be the leader in night vision technology. In 2008, ITT became the sole supplier of the Enhanced Night Vision Goggle, or ENVG, for the U.S. Army.
The ENVG allows the user to optically overlay thermal (IR) for target detection and image intensification (I²) for target identification. ITT has also developed five prototype ENVG (Digital) which digitally fuses I² and IR which allows for images to be exported into the tactical network. These units will be field tested at Ft. Benning in April 2009. ITT’s contributions to night vision technology for 50 years have made us the leader in the field and a trusted partner to the US Military and Allied militaries.
ITT’s Night Vision division, based in Roanoke, Va., is the world’s leading developer, producer and supplier of head- and helmet-mounted night vision solutions and image intensifiers for U.S. and allied military forces as well as the homeland security market. ITT has served the U.S. military with premier research, development, production and logistics for analog and digital fusion solutions for 50 years. ITT delivered its one millionth Gen 3 image intensification tube in 2007. To learn more, visit www.nightvision.com
About ITT Corporation
ITT Corporation is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provide protection and safety and connect our world. Headquartered in White Plains, N.Y., the company generated 2008 sales of $11.7 billion. www.itt.com
Safe Harbor Statement
Certain material presented herein includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995 ("the Act"). These forward-looking statements include statements that describe the Company's business strategy, outlook, objectives, plans, intentions or goals, and any discussion of future operating or financial performance. Whenever used, words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target" and other terms of similar meaning are intended to identify such forward-looking statements. Forward-looking statements are uncertain and to some extent unpredictable, and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed in, or implied from, such forward-looking statements. Factors that could cause results to differ materially from those anticipated by the Company include general global economic conditions, decline in consumer spending, interest and foreign currency exchange rate fluctuations, availability of commodities, supplies and raw materials, competition, acquisitions or divestitures, changes in government defense budgets, employment and pension matters, contingencies related to actual or alleged environmental contamination, claims and concerns, intellectual property matters, personal injury claims, governmental investigations, tax obligations, and changes in generally accepted accounting principles. Other factors are more thoroughly set forth in Item 1. Business, Item 1A. Risk Factors, and Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations - Forward-Looking Statements in the ITT Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2007, and other of its filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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ITT Night Vision
7635 Plantation Road
Roanoke, VA 24019
Telephone: 540-563-0371
Fax: 540-362-4979
Toll free: 800-448-8678
General email:
nvsales@itt.com |
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