Press Release

L3 Receives Contract Modification for M783 Mortar Fuze

NEW YORK--(BUSINESS WIRE)--Jan. 19, 2017-- L3 Technologies (NYSE:LLL) announced today that it has been awarded a $32 million contract modification from the U.S. Army to supply the M783 Point Detonating/Delay (PD/DLY) Mortar Fuze. The contract was awarded under a Foreign Military Sales (FMS) program, and the purchased equipment will be used by an international customer.

“The M783 is an advanced mortar fuze that provides a new level of safety and demonstrated field reliability in excess of 99 percent to the warfighter,” said Rich Hunter, President of L3 Fuzing & Ordnance Systems (L3 FOS). “We have produced more than 1.5 million of these fuzes, and this contract affirms L3’s ongoing commitment to deliver cost-effective, innovative solutions to the U.S. Army and its international allies.”

The M783 is the U.S. Army’s next-generation, NATO-standard electronic PD/DLY fuze for mortars and is used to support close-range, indirect fire support to infantry units in combat operations. Work on this program will be done by L3 FOS, which is part of the Precision Engagement & Training sector within the Electronic Systems business segment. All work is expected to be completed by February 2018.

L3 FOS specializes in the development and manufacture of advanced fuzing products, sensors and safety devices. These products are utilized in numerous artillery, mortar and air-dropped munitions, as well as rockets, missiles and other advanced weapon systems. To learn more about L3 FOS, please visit the Company’s website at www.L3T.com/FOS.

Headquartered in New York City, L3 employs approximately 38,000 people worldwide and is a leading provider of a broad range of communication and electronic systems and products used on military, homeland security and commercial platforms. L3 is also a prime contractor in aerospace systems, security and detection systems, and pilot training. The Company reported 2015 sales of $10.5 billion.

To learn more about L3, please visit the Company’s website at www.L3T.com. L3 uses its website as a channel of distribution of material Company information. Financial and other material information regarding L3 is routinely posted on the Company’s website and is readily accessible.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “will,” “could” and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the Company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the Company’s recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the Company undertakes no obligation to update these forward-looking statements.

Source: L3 Technologies

L3
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