Eau Claire (Press Release) - National Presto Industries,
Inc. (NYSE: NPK) announced that on March 28, 2012, AMTEC
Corporation, its wholly owned subsidiary, received a $81 million option
award under AMTEC's current five-year 40mm systems contract with the
Department of the Army.
This is the first award it has received during
the government's fiscal year ending September 30, 2012 (FY12), and
additional awards are anticipated. Deliveries under the option are
scheduled in 2013 and 2014. The option brings the cumulative amount
awarded under the ongoing 40mm contract to $364.7 million.
National Presto Industries, Inc. operates in three business
segments. The Housewares/ Small Appliance Segment designs and sells
small household appliances and pressure cookers under the PRESTO® brand
name, and is recognized as an innovator of new products. The Defense
Segment manufactures a variety of products, including medium caliber
training and tactical ammunition, energetic ordnance items, fuzes,
cartridge cases, less-lethal munitions and less-lethal accessory
equipment. The Absorbent Products Segment is primarily engaged in the
manufacture of private label adult incontinence products.
This release contains "forward looking statements" made pursuant to
the safe harbor provision of the Private Securities Litigation Reform
Act of 1995 that are subject to certain risks and uncertainties, as well
as assumptions, that could cause actual results to differ materially
from historical results and those presently anticipated or projected. In
addition to the factors discussed above, other important risk factors
are delineated in the Company's various SEC filings.
