Army Introduces First Unit Equipped with ITT's Enhanced Night Vision Goggle
May 07 2008 - 3:25PM
Business Wire
The U.S. Army has completed its First Unit Equipped (FUE) with the
ITT Corporation (NYSE:ITT) Enhanced Night Vision Goggle (ENVG),
helping the service meet its goal of fielding the first
sensor-fused, helmet-mounted monocular. ITT�s ENVG optically
combines an image intensification (I2) image and next-generation
infrared (IR) image, allowing for improved mobility and situational
awareness�through clear target identification (I2) and improved
target detection (IR). �As the sole provider of the Army�s Enhanced
Night Vision Goggle, we are pleased with this major milestone in
equipping our warfighters with high-quality, head-mounted
sensor-fused night vision,� said ITT Night Vision�s President &
General Manager, Mike Hayman. �Giving the men and women of our
military the advantages of two night vision technologies fused into
one system for the first time should help preserve their edge on
the battlefield.� While I2 and IR technologies have allowed the
U.S. military and its allies to own the night for years, both
technologies have strengths and limitations. The ENVG combines the
strengths of both technologies into one unit, allowing soldiers to
complete their missions more effectively, even when confronted by
low-light or obscured conditions. The ENVGs have completed a
rigorous qualification process to ensure they are ready to be
fielded. Following a competitive process, ITT was selected as the
sole provider of the Army�s ENVG contract in 2005. The contract has
a total potential value of $560 million over the contract life. ITT
Night Vision, based in Roanoke, Va., is the world�s leading
developer, producer and supplier of Generation 3 image intensifier
technology for U.S. and allied military forces as well as the
homeland security market. To learn more, visit www.nightvision.com.
About ITT Corporation ITT Corporation (www.itt.com) is a
diversified high-technology engineering and manufacturing company
dedicated to creating more livable environments, enabling
communications and providing protection and safety. The company
plays an important role in vital markets including water and fluids
management, global defense and security, and motion and flow
control. ITT employs approximately 40,000 people serving customers
in more than 50 countries. Headquartered in White Plains, N.Y., the
company generated $9 billion in 2007 sales. Safe Harbor 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, 2006, 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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