This news release contains forward looking statements. Reference should
be made to "Forward-looking Statements" at the end of this news release.
TORONTO, April 10 /CNW/ - Atlantis Systems Corp. (TSX: AIQ) today
announced that its Orlando, Florida-based wholly-owned subsidiary, Atlantis
Systems America, Inc. (ASA) has completed a Defense Contract Audit Agency
(DCAA) audit, has adopted its parent company's ISO 9001-registered quality
processes and has qualified as a subcontractor under U.S. Navy and U.S. Army
Indefinite Delivery / Indefinite Quantity contract vehicles.
In addition, ASA announced that it has entered into a Special Security
Agreement with the U.S. Department of Defense and its Canadian parent
corporations. This agreement is required to meet U.S. national security
objectives, and it further enhances Atlantis' ability to provide products and
services to the U.S. Department of Defense and other U.S. agencies.
"This is a significant strategic achievement, and we're delighted that
the long and rigorous process of qualifying as a U.S. Defense Contractor is
finally completed," said Andrew Day, President and CEO of Atlantis. "We are
now in a much better position to partner and compete in this huge market that
was not previously open to us. The U.S. is the largest single military market
for simulation products with a national defense budget of over US
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 its
wholly-owned subsidiary Atlantis Systems America, Inc. (ASA).
Established in early 2006, ASA has grown to over 60 employees with all
necessary infrastructure in place. It is located in a 27,000 square-foot
facility in Orlando, which is considered the leading centre for simulation in
the world and is a major procurement hub for the U.S. Military.
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 and grow, allowing
Atlantis to exercise more control over the courseware element of its CFTS
contract and to bring more of the work in house.
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,