TVI Corporation (NASDAQ: TVIN), an international supplier of military and civilian emergency first responder and first receiver products, personal protection products, quick-erect shelter systems and event shelter and equipment rentals, today announced that its subsidiary, SafetyTech International, has been awarded a $7.56 million order for C420 Powered Air-Purifying Respirators (PAPRs) by the National Guard. The order is expected to be delivered in full by the end of 2008 and follows closely on the heels of a $1.75 million C420 PAPR award the Company received from the National Guard in April 2008.
The National Guard Rapid Reaction Force (RRF) will deploy the C420 PAPRs in a range of Homeland Defense/Homeland Security missions, including support for Chemical, Biological, Radiological, and Nuclear Enhanced Response Force Package (CERFP) teams, which use the same PAPRs as standard equipment for respiratory protection. The C420 features SafetyTech’s NIOSH-approved hydration system, which enables Guardsmen to drink water without compromising their respiratory protection.
“We are proud to be expanding TVI’s support for the men and women of the National Guard as they work to defend America at home and around the world,” said Lt. General Harley A. Hughes, USAF (Ret.), President and CEO of TVI. “This major award demonstrates the Guard’s growing confidence in our technology and our product design and manufacturing capabilities. It also underscores the importance of the assistance that our PAPR development program has continued to receive from Maryland’s Congressional delegation.”
“Receiving a contract award of this magnitude from the National Guard significantly advances our strategy to develop stable, long-term customer relationships,” Hughes said. “It also provides further evidence of the progress we are making turning around the Company. We remain solidly on track to report improved top-line results for the second quarter over the first quarter of 2008. We also continue to expect to report operating profit in the third quarter of 2008.”
About TVI Corporation
TVI Corporation, headquartered in Glenn Dale, Maryland, is an international supplier of military and civilian emergency first responder and first receiver products, personal protection products and quick-erect shelter systems. These products include powered air-purifying respirators, respiratory filters and quick-erect shelter systems used for decontamination, hospital surge systems and command and control. The users of these products include military and homeland defense/homeland security customers. Through its Signature Special Event Services business, TVI is a leading full-service shelter and equipment rental company serving the government and defense, corporate, sporting and hospitality industries.
The TVI designation is a trademark of TVI Corporation. All other company and product names mentioned above are trade names and/or trademarks of their respective owners. For more information concerning TVI, please visit the Company at: www.tvicorp.com. This reference to the TVI website is an active textual reference and the contents of the site are not part of this press release.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995
Certain information contained in this press release constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and involves expectations, beliefs, plans, intentions or strategies regarding the future. These statements may be identified by the use of forward-looking words or phrases such as “should,”“anticipates,” “believes,”“expects,” “might result,” “estimates” and others. These forward-looking statements are based on information available to TVI as of the date hereof and involve risks and uncertainties and are not guarantees of future performance, as actual results could differ materially from our current expectations. Numerous factors could cause or contribute to such differences, including, but not limited to, those set forth in the Company’s Annual Report to Stockholders, periodic reports, registration statements and other filings made with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date of the press release. We assume no obligation to update any such forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Harley A. Hughes, 301-352-8800
President and
Chief Executive Officer
or
Sharon Merrill Associates
Jim
Buckley, 617-542-5300
Executive Vice President
