CHELMSFORD, Mass.--(BUSINESS WIRE)--ZOLL Medical Corporation, a manufacturer of resuscitation devices and related software solutions, announced today that it has been awarded a follow-on contract for Airworthy CCT defibrillators by the U.S. Defense Logistics Agency. If fully exercised, the potential revenue from the contract could approximate $30 million. The services that can order units against this contract are Army, Navy, Air Force, Marine Corps, and federal civilian agencies.
The Department of Defense will provide an upfront payment of $3.9 million for ZOLL to procure parts to build units to comply with inventory requirements. This payment will initially be included in deferred revenue. Recognition of revenue will occur depending upon how and when future orders are placed. ZOLL received a similar award in 2004, with four one-year extension options, all of which were exercised. This new agreement, initially for a one-year period, also contains four one-year agreement extension options.
“We are pleased, once again, to be chosen to provide equipment on a continuing basis to all military branches and federal civilian agencies with a quick turnaround to help ensure our nation’s state of readiness,” said Richard A. Packer, Chairman and CEO of ZOLL.
The date of performance completion is September 27, 2010, subject to contract extension. The Airworthy CCT is an advanced life support, critical care transport defibrillator and monitor.
About ZOLL Medical Corporation
ZOLL Medical Corporation is committed to developing technologies that help advance the practice of resuscitation and temperature control therapies for the treatment of critical care patients. With products for pacing, defibrillation, circulation, temperature management, and fluid resuscitation, ZOLL provides a comprehensive set of technologies, including Real CPR Help® and See-Thru CPR®, which help clinicians, EMS professionals, and lay rescuers resuscitate sudden cardiac arrest or trauma victims. ZOLL also designs and markets software that automates the documentation and management of both clinical and non-clinical information.
ZOLL markets and sells its products in more than 140 countries. The Company has direct operations, distributor networks, and business partners throughout the U.S., Canada, Latin America, Europe, the Middle East and Africa, Asia, and Australia. During 2008 ZOLL marked the 25th anniversary of the Company’s resuscitation product development. For more information, visit www.zoll.com.
Certain statements contained in this press release, including statements regarding the future business of the Company, and other statements contained herein regarding matters that are not historical facts, are “forward-looking” statements (as defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those factors discussed in the section entitled “Risk Factors” in the Company’s Quarterly Report on Form 10-Q filed with the SEC on August 7, 2009. You should not place undue reliance on the forward-looking statements in this press release, and the Company disavows any obligation to update or supplement those statements in the event of any changes in the facts, circumstances, or expectations that underlie those statements.
Copyright © 2009 ZOLL Medical Corporation. All rights reserved. 269 Mill Road, Chelmsford, MA 01824-4105. ZOLL, Real CPR Help, and See-Thru CPR are registered trademarks of ZOLL Medical Corporation.
Contact:
ZOLL Medical Corporation INVESTOR CONTACT: A. Ernest Whiton, +1-978-421-9655 Chief Financial Officer or MEDIA CONTACT: Diane Egan, +1-978-421-9637 degan@zoll.com
