25 Jul 2013 07:00
SCISYS PLC
Update regarding the British Army's Warrior Armoured
Fighting Vehicle upgrade project
SCISYS PLC ('SCISYS' or the 'Company'; AIM: SSY) - the supplier of bespoke software systems, IT based solutions and support services to the Media Broadcast, Space, Government and Defence and Environment sectors - is pleased to announce that it has entered into an agreement with Lockheed Martin UK to contribute to the British Army's Development Programme of upgrading and improving its Warrior armoured fighting vehicle fleet, the Warrior Capability Sustainment Programme ("WCSP").
Lockheed Martin UK is responsible under WCSP for a demonstration programme providing upgrades and enhancements designed to maximize the investment made in Warrior vehicles and extend their service lives.This demonstration programme includes upgrades to the weapon systems armour and introduces an electronics architecture system known as the Platform Management Software to be supplied by SCISYS.
The Platform Management Software integrates and controls the systems on the upgraded Warrior, significantly improving the vehicles' operational effectiveness. SCISYS provided a prototype software system for an earlier phase of the demonstration programme and is providing similar systems to other customers, notably the RNLI.
The expected value to SCISYS of this contract is £5.78m. SCISYS commenced work in April 2012 in support of the WCSP programme, and a proportion of the contract value was recognised in the financial year ended 31 December 2012, with the remainder to be recognised in the current and forthcoming accounting periods.
Dr Mike Love, Chairman of SCISYS said:
"We are proud to be making a significant contribution to the WCSP programme that will support and help protect UK forces for years to come. For SCISYS, this is another key contract in the "electronic architecture" niche that we have been investing and leading in over recent years. It also pays testament to the strength of our relationship with Lockheed Martin."
SCISYS PLC will announce its interim results for the six month period ending on 30 June on 26 September 2013.
For further information please contact:
SCISYS PLC | +44 (0)1249 466 466 | |
Mike Love | Chairman | |
David Jones | Chief Executive Officer | |
Chris Cheetham | Finance Director | |
finnCap (NOMAD & Broker) | +44 (0)20 7220 0500 | |
Stuart Andrews / Henrik Persson | Corporate Finance | |
Simon Starr | Corporate Broking | |
Winningtons Financial PR Tom Cooper/Paul Vann |
| +44 (0)20 3176 4722 +44 (0)797 122 1972 tom.cooper@winningtons.co.uk |
About SCISYS:
Employing nearly 440 staff, SCISYS is a leading developer of Information and Communications Technology services, e-Business and advanced technology solutions. The Company operates in a broad spectrum of market sectors including Media Broadcast, Space, Government & Defence, and Environment sectors. SCISYS clients are predominantly blue chip and public sector organizations. Customers include Environment Agency, the Ministry of Defence, Astrium, Arqiva, Cable & Wireless Worldwide, the European Space Agency, Eumetsat, the BBC, RNLI, National Trust and Transport for London. The Company has UK offices in Chippenham, Bristol and Reading and two offices located in Germany. More information is available at www.scisys.co.uk