Leonardo DRS Awarded $52 Million Follow-On Production Order for Sniper Weapon Sights

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4:00 PM on Tuesday, August 20, 2024

The Associated Press

ARLINGTON, Va.--(BUSINESS WIRE)--Aug 20, 2024--

Leonardo DRS, Inc. (NASDAQ: DRS) announced today that it has received an order for continued production of its advanced Sniper Weapon Sights for U.S. Army snipers. The recently awarded production order for $52 million was made under the current Family of Weapon Sights–Sniper (FWS-S) IDIQ contract.

Incorporating DRS’s proven cooled infrared imaging technology, FWS-S is a clip-on thermal weapon sight used in conjunction with existing daytime sniper optics to provide rapid target acquisition capabilities to the sniper during day and night. The sighting system gives users the ability to acquire targets in a range of difficult environmental conditions, including smoke or fog, providing strategic and tactical advantages to the sniper.

“Ensuring soldiers have the most advanced technology on the battlefield today is critical, and the Family of Weapon Sights - Sniper answers that call,” said Jerry Hathaway, senior vice president and general manager of DRS’s Electro-Optical Infrared Systems business. “We are proud to provide this innovative technology, and proud the U.S. Army recognizes us as a trusted partner to continue delivering these systems to the frontline warfighters.”

In addition to FWS-S, Leonardo DRS has an extensive installed base of electro-optical and infrared technology across the U.S. military. Advanced sensing capability is a key strategic focus for the company providing world-leading sensing and laser technologies for a range of aircraft protection and mounted and unmounted sensors supporting the men and women of the U.S. armed forces.

About Leonardo DRS

Headquartered in Arlington, VA, Leonardo DRS, Inc. is an innovative and agile provider of advanced defense technology to U.S. national security customers and allies around the world. We specialize in the design, development and manufacture of advanced sensing, network computing, force protection, and electric power and propulsion, and other leading mission-critical technologies. Our innovative people are leading the way in developing disruptive technologies for autonomous, dynamic, interconnected, and multi-domain capabilities to defend against new and emerging threats. For more information and to learn more about our full range of capabilities, visit www.LeonardoDRS.com.

Forward-Looking Statements

This communication contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements reflect current expectations, assumptions and estimates of future performance and economic conditions. The company cautions investors that any forward-looking statements which include contract values, contract performance and our development and production of products are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements.

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CONTACT: Leonardo DRS Investor Relations Contact

Steve Vather

Senior Vice President, Investor Relations and Corporate Finance

+1 703 409 2906

[email protected] DRS Media Contact

Michael Mount

Vice President, Communications and Public Affairs

+1 571 447 4624

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA

INDUSTRY KEYWORD: TECHNOLOGY CONTRACTS SECURITY ENGINEERING SATELLITE MILITARY DRONES MANUFACTURING GOVERNMENT TECHNOLOGY DEFENSE