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SafeNet Announces $150 Million Dollar Contract from Department of Defense
Thursday September 29, 2005
Shipments to Start Early October
Company Reaffirms Full Year 2005 Guidance
BALTIMORE--Sept. 29, 2005--SafeNet, Inc. (SFNT) ), setting the standard for
information security, announced today that it has been awarded a $150
Million Indefinite Delivery Indefinite Quantity (IDIQ) contract from the
Department of Defense (DoD) for its new KIV-7M Link Encryptor, the largest
contract in SafeNet's history. The Company also has received a delivery
order in excess of $18 million that will begin to ship in early October.
"This contract far exceeds the Company's preliminary expectations of a $50
Million dollar contract," said Chris Fedde, Senior Vice President and
General Manager for SafeNet's Enterprise Security Division. "In fact, the
initial IDIQ award already represents approximately half of our minimal
market projections for this product."
Due to the late timing of the contract award, the Company anticipates that
revenue for the third quarter will be in the range of $63 million to $65
million. Given the initial order of $18 million which is now in backlog, the
Company reaffirms its full year 2005 guidance.
SafeNet expects to report its full third quarter financial results on
October 27, 2005.
Conference Call
The Company will be hosting a conference call today at 5:00 pm EDT, to
discuss the KIV-7M contract. To join SafeNet in the conference call, dial
1-866-314-4865 and use passcode 70599045 within the United States. If you
are calling from outside the U.S., please dial 1-617-213-8050 and use
passcode 70599045. The conference call will also be available via live
webcast on SafeNet's Investor Relations Web site at
www.safenetinvestor.com. A
replay of the conference call will be immediately available via webcast on
SafeNet's Investor Relations site.
About SafeNet, Inc.
SafeNet is a global leader in information security. Founded more than 20
years ago, the company provides complete security utilizing its encryption
technologies to protect communications, intellectual property and digital
identities, and offers a full spectrum of products including hardware,
software, and chips. ARM, Bank of America, Cisco Systems, the Departments of
Defense and Homeland Security, Adobe, Samsung, Texas Instruments, the U.S.
Internal Revenue Service and scores of other customers entrust their
security needs to SafeNet. For more information, visit
www.safenet-inc.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995
The statements contained in this release, which are not historical facts,
are forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934.
These statements are subject to uncertainties that could cause actual
results to differ materially from those set forth in or implied by
forward-looking statements. Important factors that could cause actual
results to differ materially are included but are not limited to those
listed in SafeNet's periodic reports and registration statements filed with
the Securities and Exchange Commission. The Company assumes no obligation to
update information concerning its expectations.
SafeNet is a registered trademark of SafeNet, Inc.
Contact:
SafeNet, Inc.
Public Relations:
Maureen Kolb, 443-327-1238
mkolb@safenet-inc.com
www.safenet-inc.com
or
Investor Relations:
Gregg Lampf, 443-327-1532
glampf@safenet-inc.com
www.safenet-inc.com
Source: SafeNet, Inc.
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