This excerpt taken from the STST 8-K filed Dec 4, 2008.
Year End Bookings Reach All-Time High
FAIRFAX, Va.--(BUSINESS WIRE)--December 4, 2008--Argon ST, Inc. (NASDAQ:STST), a leading developer of command, control, communications, computers, combat systems, intelligence, surveillance, and reconnaissance (C5ISR) systems, today reported record results for fourth quarter and fiscal year 2008, ended September 30, 2008.
“We had a good fourth quarter which contributed to a very good year,” commented Dr. Terry Collins, Chairman and Chief Executive Officer, Argon ST. “We’re pleased to report that we set records in several important categories, most notably revenue, bookings, Adjusted EBITDA and year-end backlog. Our growth in 2008 was driven by the introduction of new Argon capabilities into the C5ISR arena, continued diversification of our customer base, the pursuit of more prime contractor opportunities, and the strong delivery and management of our products and services. Most importantly, during 2008 we continued to innovate, we continued to execute and we continued to deliver quality products to the warfighter.”
Continuing, Dr. Collins said, “I am pleased that our fiscal year results are within the guidance we provided a year ago. We will continue to work hard to grow the company and deliver the results our stockholders expect from us. Our 2009 strategy is very much based on leveraging the momentum created in 2008 while looking for ways to optimize operations, stimulate revenue growth and drive profitability. Despite the uncertainty associated with the change in government administration and the resultant outlook for defense budgets, as well as the prospects for and timing of improvement in the U.S. economic conditions, we expect continued demand for our products and services and are optimistic about our future.”