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L3 Achieves Record-High ISR Sensors Orders

Published : Sunday, June 16, 2019, 5:00 am
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LE BOURGET, France--(BUSINESS WIRE)--L3 Technologies (NYSE:LLL) announced today that its WESCAM business continues to make history as it moves through its second quarter of 2019.



Its first quarter of the year ended with record-high orders of more than $120 million in contracts for its MX™-Series electro-optical/infrared (EO/IR) sensors, mission system solutions and in-service support. This order milestone complements its 2018 landmark year-end, where the company received over $500 million in orders – making it the largest year in WESCAM’s history.

“Our ISR Systems segment has done an exceptional job at growing its business by fostering innovation and facilitating collaboration across the L3 enterprise,” said Christopher E. Kubasik, L3’s Chairman, Chief Executive Officer and President. “Our industry-leading technologies and mission system solutions enable L3 to help solve the defense and security challenges of our customers in a competitive and extremely agile way.”

“This record-high performance illustrates our commitment to providing the innovative and time-sensitive technology needed to meet the requirements of today’s warfighter,” said Jeff Miller, L3’s Senior Vice President and President of its ISR Systems business segment. “With our exceptional program execution, industry-leading customer support and targeted strategy of disciplined growth, we are excited to announce that we captured half a billion dollars in orders for the first time in our history.”

L3 WESCAM continues to experience strong double-digit growth year-over-year, driven by key wins across air, land and maritime domains. It has experienced an increased demand for EO/IR turrets used on unmanned aircraft systems in the form of UAS and aerostats.

Unmanned system orders contributing to the record growth included one from DrabPol Automotive in Poland to provide 47 MX™-8 EO/IR systems for installation on a new fleet of tactical E-310 Orlik UAVs operated by the Polish Army. The company was awarded an indefinite-delivery/indefinite-quantity (ID/IQ) contract valued at up to $454 million from the U.S. Army for its MX™-10D. The sensor suite will operate from the Army’s Tactical Unmanned Air Systems Shadow UAV (RQ-7Bv2).

WESCAM has delivered more than 4,600 MX systems globally. These systems are installed on over 210 platforms across air, land and maritime domains, and service more than 400 customers in over 85 countries.

Continuing to build its global in-service support network, earlier this year the company announced a new Korean WESCAM Authorized Service Center for customers located in South Korea and the surrounding region. This facility, along with L3’s 13 other centers, will maintain L3’s MX-Series EO/IR imaging turrets with regional 24/7 support.

With headquarters in New York City and approximately 31,000 employees worldwide, L3 develops advanced defense technologies and commercial solutions in pilot training, aviation security, night vision and EO/IR, weapons, maritime systems and space. The company reported 2018 sales of $10.2 billion.

To learn more about L3, please visit the company’s website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the company’s website and is readily accessible.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.


Contacts

L3 Technologies
Corporate Communications
212-697-1111



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