This news release contains forward looking statements. Reference should
be made to "Forward-looking Statements" at the end of this news release.
Toronto Stock Exchange Symbol: AIQ
TORONTO, April 26 /CNW/ - Atlantis Systems Corp. (TSX: AIQ) today
announced that its Orlando, Florida-based wholly-owned subsidiary, Atlantis
Systems America, Inc. (ASA) has been awarded a US$2.7 million contract for a
customer in the U.S. defense sector.
Today's news follows an announcement earlier this month by the Company
that that ASA had completed the long and rigorous process of qualifying as a
U.S. Defense Contractor. Established in early 2006, ASA is now an organization
with over 60 employees located in a 27,000 square-foot facility in Orlando,
Florida, which is considered the leading centre for simulation in the world
and is a major procurement hub for the U.S. Military.
"We are extremely gratified to see our Orlando operation win its first
direct contract in the defense sector. Although we cannot name the customer,
this contract results from the work we have done to put in place the people,
the infrastructure and the systems we need to compete in the U.S., and now
we're beginning to see results from our investment in that market," said
Andrew Day, President and CEO of Atlantis.
Last year, ASA began providing courseware as part of ASI's agreement with
the Contracted Flying Training and Support (CFTS) program for the Canadian
Forces. This work in Orlando is expected to continue through 2008.
Atlantis Systems Corp. (ASC) is a globally recognized training integrator
specializing in the military, commercial aviation and energy sectors. ASC
operates in Canada and internationally through its wholly-owned subsidiary
Atlantis Systems International Inc. (ASI), and in the U.S. through ASA.
About Atlantis Systems Corp.
Headquartered near Toronto, Atlantis combines desktop and full-flight
simulation, knowledge management, learning management systems, flight training
devices and multimedia courseware to provide integrated flight training and
aircraft maintenance training to a global list of customers. For over
twenty-eight years, Atlantis has drawn on its extensive engineering background
and proprietary technology to offer cost-efficient, state of the art
alternatives to real-life conditions and situations. ASI is registered under a
number of quality management programs including ISO 9001:2000, AS 9100:2004,
CSA-Z299.1-1985, Boeing BQMS D6-82479 and Rockwell Collins RC-9000, among
others. To learn more, please visit the company's web site at
Certain statements in this release, including but not limited to those
regarding the expected growth of in house work on the CFTS program and the
generation of revenue by ASA are considered "forward-looking". These
forward-looking statements are based on current expectations and various
estimates, factors and assumptions and involve known and unknown risks,
uncertainties and other factors. The material factors and assumptions that
were applied in making the forward-looking statements in this release include
but are not limited to assumptions regarding: the proportion of in-house and
subcontractor work on the CFTS program; current regulations and requirements
promulgated by American and Canadian governmental agencies; the level of
activity under the CFTS program; ASA's capability to deliver courseware and
the level of spending on the Company's direct U.S.-market initiative. Material
factors that could cause Atlantis' actual results to differ materially from
the forward-looking statements in this release include risks and uncertainties
relating to: future changes in regulatory requirements; the CFTS program; the
Company's U.S. subsidiary, ASA; reliance on key customers; the level of
military expenditures; relationships with existing U.S. prime contractors; and
the availability of skilled personnel. Atlantis cannot provide any assurance
that the predictions of forward-looking statements will materialize. Atlantis
assumes no obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or any other reason.
Additional information regarding risks and uncertainties that could affect
Atlantis' business is contained in the Business Risk Factors section of
Atlantis's Annual MD&A and the Description of the Business - Risk Factors
section in Atlantis' Annual Information Form, both of which are available on
SEDAR at www.sedar.com.
For further information:
For further information: Douglas Donderi, Vice-President, Corporate
Development and Corporate Secretary, Atlantis Systems Corp., (905) 759-1046,