American Defense Systems (EAG) Announces Contract Additions in Excess of $1 Million with the U.S. Army
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American Defense Systems, Inc. (AMEX: EAG) announced today that the Company has received two contract modifications for armor and field services with a combined value in excess of $1 million under its U.S. Army TACOM contracts (numbers W56HZV-08-C-0311 and W56HZV-05-D-0382/0023). The Company anticipates the revenues associated with these contract additions will be recognized in the current fiscal year 2008.
The first contract adjustment, valued at approximately $700,000, is for heavy equipment armor. The second extends ADSI's Field Service Representative (FSR) presence for onsite product support, and is valued at approximately $400,000.
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