HANOVER, Md., April 20, 2015 (GLOBE NEWSWIRE) -- The KEYW Corporation, a wholly owned subsidiary of The KEYW Holding Corporation (Nasdaq:KEYW), is pleased to announce that it has received the Option Period 1 exercise on its multi-year airborne collection services contract. As planned, the $17.6 million option covers a five-month period of performance from April 1, 2015 to August 26, 2015 and was exercised in accordance with the original $114 million total value contract awarded on December 18, 2013. Two additional option periods remain on the contract, which runs through September 29, 2016.
"We are proud to continue supporting our customer with expeditionary air services and delivering high-value, high-resolution imagery data products to users with urgent mission requirements," commented Len Moodispaw, CEO and President of KEYW. "We expect to continue to support this customer for the foreseeable future as additional aircraft are deployed to support customer missions."
KEYW's high-resolution imaging technology, Aeroptic, has evolved from urban counter-IED missions to wide-area, high-resolution, three-dimensional geospatial information (HR3DGI) missions around the world. KEYW also has expertise in the development and operation of a range of additional capabilities including synthetic aperture radar, radio-frequency survey, hyperspectral imaging (HSI), and other custom-built sensors. For more information, please visit http://aeroptic.keywcorp.com.
KEYW provides agile cyber superiority, cybersecurity, and geospatial intelligence solutions for U.S. Government intelligence and defense customers and commercial enterprises. We create our solutions by combining our services and expertise with hardware, software, and proprietary technology to meet our customers' requirements. For more information contact KEYW Corporation, 7740 Milestone Parkway, Suite 400, Hanover, Maryland 21076; Phone 443-733-1600; Fax 443-733-1601; E-mail email@example.com; or on the Web at www.keywcorp.com.
Forward-Looking Statements: Statements made in this press release that are not historical facts constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements about our future expectations, plans and prospects, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," "potential," "opportunities", and similar expressions. Our actual results, performance or achievements or industry results may differ materially from those expressed or implied in these forward-looking statements. These statements involve numerous risks and uncertainties, including but not limited to those risk factors set forth in our Annual Report on Form 10-K, dated and filed March 9, 2015 with the Securities and Exchange Commission (SEC) as required under the Securities Act of 1934, and other filings that we make with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements. KEYW is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
CONTACT: Chris Donaghey 443-733-1600Source:KEYW Corp.