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.