Argon ST Announces Agreement to be Acquired by The Boeing Company

Argon ST [NASDAQ: STST] and The Boeing Company [NYSE: BA] today announced that they have entered into an agreement for Boeing’s acquisition of Argon ST in an all cash tender offer and merger for $34.50 per share, or approximately $775 million, net of cash acquired.

The agreement to acquire Argon ST, a leading developer of command, control, communications, computers, combat systems, intelligence, surveillance, and reconnaissance (C5ISR), advances Boeing's growth strategy and expands its capabilities to address the C5ISR, cyber and intelligence markets.

“We’re very pleased to join The Boeing Company,” said Dr. Terry Collins, chairman and chief executive officer of Argon ST. “Our employee teams know each other well, and we are excited to now continue our combined support to our warfighters and first responders as one company.”

Ultralife Corporation Receives $21 Million SATCOM-On-The-Move System Orders

Ultralife Corporation (NASDAQ: ULBI) has received orders valued at approximately $21 million for its SATCOM-On-The-Move systems from a U.S. defense contractor for use in MRAP armored vehicles. Deliveries are expected to begin this quarter and be completed in the fourth quarter of 2010.

“As one of the preferred vendors for critical defense communications systems, we are well positioned to benefit from ongoing demand by the U.S. military for SATCOM systems for use in various military vehicle programs. Because of this standing, our battle-tested, radio independent SATCOM systems have been once again selected for use in MRAP vehicles," said John D. Kavazanjian, president and chief executive officer. “These orders were not contemplated in our base line revenue plan for 2010 which called for revenue of $177 million. We will provide investors with an update on our outlook for 2010 operating profit and Adjusted EBITDA in our second quarter earnings call.”

Power-One Posts Strong First Quarter 2010 Results

Power-One, Inc. (NASDAQ: PWER), a leading provider of renewable energy and energy-efficient power conversion and power management solutions, today announced financial results for the first quarter 2010. Power-One recorded net sales of $152 million for the first quarter ended April 4, 2010, an increase of 56% from the first quarter 2009. Net income attributable to common stockholders for the first quarter was $3.8 million, or $0.04 per diluted share, compared to a net loss of $61 million, or $0.70 per share for the same period last year.

Renewable energy products again recorded strong sequential revenue gains in the first quarter 2010, with positive demand trends continuing in 2010. The company’s renewable energy products posted a record $82 million in revenue for the first quarter 2010, equating to a year-over-year increase of 556% from $13 million in the first quarter 2009.

Tri-Tech Holding Full Year 2009 Revenue Up 99% to $16.8M; Net Income Up 127% to $3.8M; EPS $0.92 vs. $0.48

Tri-Tech Holding Inc. (Nasdaq: TRIT), a leading Chinese project development and management company that engineers, manages and monitors China's municipal sewer systems, natural waterways and resources, announced today that revenue for the fiscal year ended December 31, 2009 increased 99% to $16.8 million from $8.4 million in 2008. Diluted earnings per share for the year were $0.92 based on net income of $3.8 million. This compares with net income of $1.7 million or $0.48 diluted EPS in 2008.