Oct. 29, 2009 (U.S. Equity News) --
Defense industry alert provided by U.S. Equity News. Brite-Strike Tactical Illumination Products, Inc. (OTC: BSTK) announced today that it has received an important utility patent, US 7,604, 371B2, which bolsters their already strong intellectual property portfolio. "With the issuance of this latest patent, the Company plans to aggressively defend its IP rights," said Mr. Bushee, President of Brite-Strike. "We believe that a number of importers, and several major retailers may have infringed upon our patent, and we are currently reviewing legal options with our attorneys," said Mr. Bushee. The Company wanted to clarify the last press release regarding Amazon.com. Brite-Strike has set up Amazon as a full line retail distributor, where they purchase lights in quantity and ship them from their warehouses around the country. The program is not a "drop-ship" or internet partner program which is the typical arrangement.
Taser International Inc. saw its revenue increase in the third quarter, but the company reported a $3.2 million loss as the electronic stun-gun manufacturer saw expenses climb and poured more money into research and development. Scottsdale-based Taser (Nasdaq: TASR) reported a net loss of about 5 cents per share on $23.3 million in revenue for the quarter. That compares with about $22.9 million in revenue and net income of $650,377 for the same quarter in 2008. Part of the loss stems from about $2.4 million in additional sales and administrative expenses during the quarter and about $3.3 million the company pushed into R&D. That was part of the continuing effort to bring its new products to market, including the X3 stun gun and its evidence collection and storage systems. Taser also is holding back until the four quarter about $3.5 million in revenue that belongs to its trade-in program, designed to push its new stun-gun technology into customers' hands while taking its older models back. http://phoenix.bizjournals.com/phoenix/stories/2009/10/19/daily57.html?ana=yfcpc
The U.S. Navy has awarded General Dynamics Electric Boat a $25 million contract for management and support of nuclear-maintenance work for submarines homeported at the Naval Submarine Base in Groton. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD). The contract has a potential value of $78 million over three years if all options are exercised. Under the contract, Electric Boat will continue to operate the Nuclear Regional Maintenance Department (NRMD) at the submarine base. The company will provide project management, planning, training and radiological-control services to support maintenance, modernization and repairs.
