XGTI.
xG Technology's IMT Vislink Business Completes Delivery of First Order Against $12.5 Million U.S. Army Contract
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XG Technology, Inc. (NASDAQ:XGTI)
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Today : Wednesday 27 December 2017
SARASOTA, Fla., Dec. 27, 2017 /PRNewswire/ -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a leading provider of wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, announced today that its IMT Vislink business has completed delivery of the first order against the previously announced $12.5 million U.S Army contract award. The contract covers the supply of hand-held intelligence, surveillance and reconnaissance receiver devices. Delivery of the first order was completed significantly in advance of the required delivery date of Feb. 15, 2018.
George Schmitt, Executive Chairman and CEO of xG Technology, said, "We are pleased to have successfully completed, shipped and delivered the first part of the Army order well in advance of the date by which we were obligated to deliver. We all appreciate the efforts of our team in both the United Kingdom and the U.S. to get the job done. We look forward to continuing to deliver these state-of-the-art devices to our people in uniform to help them in their job of protecting all of us."
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