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Dynetics to build and increase power of U.S. Army laser weapons

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Huntsville, May 07, 2020 (GLOBE NEWSWIRE via COMTEX) -- Dynetics, a wholly owned subsidiary of Leidos /zigman2/quotes/202902477/composite LDOS -3.26% , is playing an integral role in the U.S. Army's weapon modernization initiatives, where the latest directed energy weapon is increasing its power from a 100 kW-class system to a 300kW-class system.

Marking the official transition to the Indirect Fires Protection Capability - High Energy Laser (IFPC-HEL) endeavor, in January, the U.S. Army modified the existing contract to support on-going efforts to increase laser capability.

In late 2019, the U.S. Army Rapid Capabilities and Critical Technologies Office (RCCTO) also announced a High Energy Laser Scaling Initiative (HELSI) contract award by the Office of the Secretary of Defense (OSD) that will support the IFPC-HEL effort.

These design initiatives follow the progress made on the High Energy Laser Tactical Vehicle Demonstrator (HEL-TVD), and brings greater capability to our nation's warfighters.

As the prime contractor for IFPC-HEL, Dynetics is set to demonstrate a 300 kW-class prototype system in FY22. The company will lead final assembly, integration, and testing. The solution will provide continued support to defend against hostile unmanned aerial systems and rockets, artillery, and mortars. The IFPC-HEL prototype will inform the U.S. Army's effort to field prototype units with residual combat capability by 2024.

"This contract modification proves Dynetics' agility and responsiveness to warfighter needs," said Scott Stanfield, Dynetics director of strategic programs. "Scaling these proven technologies puts us on track to demonstrate and deliver the 300 kW-class prototype system and support the delivery of this revolutionary capability to our men and women of the operational Army by 2024."

Dynetics was awarded the $130 million contract to build and test HEL-TVD in May 2019. The HEL-TVD critical design review was completed in early November 2019, signifying the completion of the demonstrator program.

About Dynetics

Dynetics, a wholly owned subsidiary of Leidos, provides responsive, cost-effective engineering, scientific, IT solutions to the national security, cybersecurity, space, and critical infrastructure sectors. Our portfolio features highly specialized technical services and a range of software and hardware products, including components, subsystems, and complex end-to-end systems. The company of more than 2,500 employees is based in Huntsville, Ala., and has offices throughout the U.S. For more information, visit www.dynetics.com .

Media Contact:

Kristina Hendrix

(256) 713-5453

kristina.hendrix@dynetics.com

About Leidos

Leidos is a Fortune 500(R) information technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company's 36,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $11.09 billion for the fiscal year ended January 3, 2020. For more information, visit www.Leidos.com .

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Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10-K for the period ended January 3, 2020, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.

Media Contact:

/zigman2/quotes/202902477/composite
US : U.S.: NYSE
$ 85.04
-2.87 -3.26%
Volume: 1.16M
July 13, 2020 4:03p
P/E Ratio
20.75
Dividend Yield
1.60%
Market Cap
$12.49 billion
Rev. per Employee
$318,562
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