ITT Re-Awarded NASA Space Communications Network Services Contract
December 20 2010 - 4:00PM
Business Wire
ITT Corporation (NYSE: ITT) today announced that it has again
been awarded the Space Communications Network Services (SCNS)
contract by NASA Goddard Space Flight Center to support NASA space
and near-Earth networks. These networks provide most of the
communications and tracking services for a wide range of
Earth-orbiting spacecraft, including the International Space
Station, the space shuttle, the Hubble Space Telescope and the
Earth Observing System satellites.
ITT was previously awarded the SCNS contract in October 2008 and
again in April 2009 and July 2010, but commencement of the contract
work was delayed due to a number of protests filed by the incumbent
contractor. The contract has a base period of performance of five
years and three months, with two, one-year option periods, and a
maximum potential value with all options exercised of $1.26
billion.
The ITT team includes its partners ASRC, The Boeing Company,
Braxton Technologies, CSC, LJT & Associates Inc., Orbital
Sciences Corporation and SaiTech Inc.
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 reported 2009 revenue of $10.9
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. 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 or implied in, or reasonably inferred from, such
forward-looking statements. Factors that could cause results to
differ materially from those anticipated include: Economic,
political and social conditions in the countries in which we
conduct our businesses; Changes in U.S. or international government
defense budgets; Decline in consumer spending; Sales and revenue
mix and pricing levels; Availability of adequate labor,
commodities, supplies and raw materials; Interest and foreign
currency exchange rate fluctuations and changes in local government
regulations; Competition, industry capacity and production rates;
Ability of third parties, including our commercial partners,
counterparties, financial institutions and insurers, to comply with
their commitments to us; Our ability to borrow or to refinance our
existing indebtedness and availability of liquidity sufficient to
meet our needs; Changes in the value of goodwill or intangible
assets; Our ability to achieve stated synergies or cost savings
from acquisitions or divestitures; The number of personal injury
claims filed against the company or the degree of liability;
Uncertainties with respect to our estimation of asbestos liability
exposures, third party recoveries, and net cash flow; Our ability
to effect restructuring and cost reduction programs and realize
savings from such actions; Government regulations and compliance
therewith, including compliance with and costs associated with new
Dodd-Frank legislation; Changes in technology; Intellectual
property matters; Governmental investigations; Potential future
employee benefit plan contributions and other employment and
pension matters; Contingencies related to actual or alleged
environmental contamination, claims and concerns; Changes in
generally accepted accounting principles; Other factors set forth
in our Annual Report on Form 10-K for the fiscal year ended
December 31, 2009 and our other 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.
ITT (NYSE:ITT)
Historical Stock Chart
From May 2024 to Jun 2024
ITT (NYSE:ITT)
Historical Stock Chart
From Jun 2023 to Jun 2024