Zoll Medical Corporation (Nasdaq GS: ZOLL), 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.
