ENWV Endwave Corp. (MM)

Endwave Defense Systems Awarded Second Development Contract in Eight Months From a Major U.S. Defense Prime Contractor Effort Aimed at Extending Service Life of 1980's Airframe Electronics Suites SUNNYVALE, Calif., Jan. 25 /PRNewswire-FirstCall/ -- Endwave Defense Systems, a wholly-owned subsidiary of Endwave Corporation (NASDAQ:ENWV) and leading provider of innovative high-frequency subsystem solutions for homeland security, government, and other defense electronics, today announced the execution of a 10-month development agreement with a major U.S. prime contractor to design and deliver prototype low power amplifiers for use in the back-fit of an airborne defense system. The $518,000 award is the second development contract to Endwave in eight months aimed at upgrading and prolonging onboard mission-critical subsystems in the 20+ year-old NATO aircraft fleet. Prototype deliveries are expected to occur during the fourth quarter of 2005. Upon successful field qualification testing, low rate production is expected to be authorized beginning in 2006 and extending two to four years. While prototype development will occur in the company's Sunnyvale, California headquarters, production would occur in Endwave Defense Systems' Manufacturing Center of Excellence located in Diamond Springs, California. "This development agreement is another example of our commitment to serve the Defense and Homeland Security markets with robust high-frequency subsystems," said Ed Keible, CEO and President of Endwave Corporation. "At Endwave Defense Systems, we are proud to be part of a program that prolongs the service life and sterling performance of a key electronics defense platform, and we are ready to prove our mettle at rapid technology insertion to enhance that program," added John Mikulsky, Senior Vice-President of Endwave. About Endwave Endwave Corporation develops and manufactures radio frequency (RF) subsystems for use in high-speed cellular backhaul networks, enterprise access, commercial radar systems and other broadband applications. Through its wholly-owned subsidiary, Endwave Defense Systems Incorporated, the company supplies innovative high-frequency subsystem solutions to homeland security, government, and other defense electronics applications. Endwave's products include transmitters, receivers, integrated transceivers, outdoor units, oscillators and synthesizers, high-power cellular switch-combiners, and RF modules (amplifiers, frequency multipliers, switches, and up/down-converters). Endwave and its subsidiaries have more than 35 issued patents covering their core technologies including semiconductor and proprietary circuit designs. Endwave Corporation is headquartered in Sunnyvale, CA, with operations in Diamond Springs, CA; Andover, MA; and Lamphun, Thailand. Additional information about the company can be accessed from the company's web site at http://www.endwave.com/ . "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements within the meaning of the Federal securities laws and is subject to the safe harbor created thereby. These statements include, but are not limited to, statements regarding the timing of product development and production by Endwave and/or its subsidiaries. Actual results could differ materially from the forward-looking statements due to many factors, including the following: the risks that the integration of acquired business lines, products and subsidiaries will fail, products will fail to achieve market acceptance, the timing or existence of customer orders, market volatility and weakness, customer concentration, delays in the design process, production delays or cancellations due to product defects or defects in materials supplied by vendors, the length of our sales cycle, our ability to develop, introduce and market new products and product enhancements, changes in product mix or distribution channels; the demand for wireless networking products and end- user products that incorporate wireless technology; competitive technologies; and, technological difficulties and resource constraints encountered in developing, transitioning and/or introducing new products. Forward-looking statements contained in this press release should be considered in light of these factors and those factors discussed from time to time in Endwave's public reports filed with the Securities and Exchange Commission, such as those discussed under "Risk Factors" in Endwave's most recent report on Form 10-K and subsequently filed reports on Form 10-Q. DATASOURCE: Endwave Corporation CONTACT: Mark Hebeisen, VP Marketing of Endwave Corporation, +1-978-686-4400, ext. 105, or Web site: http://www.endwave.com/

Copyright