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L3 to Provide Power Node Control Center® for the U.S. Navy Destroyer Program

NEW YORK--(BUSINESS WIRE)--Mar. 17, 2016

L3 Technologies (NYSE:LLL) announced today that it has received an initial contract from General Dynamics Bath Iron Works to deliver its innovative Power Node Control Center® (PNCC) to support the U.S. Navy's Destroyer Program. Funded delivery orders are currently in process, with the first production units scheduled for delivery in December 2017. Eight PNCC units will be initially installed on each DDG 51, beginning with DDGs 121 and 122.

Primarily developed through internal research and development investment, L3's PNCC is an integrated electrical system that can be configured to simultaneously perform multiple functions, including operating as a transfer switch, frequency converter, circuit breaker, power conditioner, power transformer and motor controller. The PNCC is scalable, flexible, affordable and robust in converting power for a variety of applications – from commercial-off-the-shelf to qualified MIL-SPEC equipment. It allows for reduced weight and space requirements and outperforms existing systems through superior fault management and robust power management capabilities.

"This is the first installation of the PNCC and is a critical step in next-generation flexible power solutions specifically designed to fulfill the requirements outlined in the U.S. Navy's Technology Development Roadmap," said Christine Montalvo, president of L3 SPD Electrical Systems, which developed the PNCC. "We've been developing and improving upon the PNCC for the last 10 years and are excited to finally deliver and bring to market a truly innovative product that provides superior power capability to the ships' critical equipment, enhancing overall performance and efficiency."

Steve Kantor, president of L3 Electronic Systems, added, "This is an important contract for L3 because it demonstrates our ability to meet changing naval requirements with our versatile and innovative technologies. We see great opportunity to expand PNCC applications across other U.S. Navy platforms, including aircraft carriers, amphibious assault ships and littoral ships where power load manageability is vital."

Located in Philadelphia, Pennsylvania, L3 SPD Electrical Systems employs approximately 215 people. A division within the L3 Electronic Systems business segment, the company is a worldwide leader in providing maritime power distribution and conditioning products and services to the U.S. Navy and most allied foreign navies. To learn more about L3 SPD Electrical Systems, please visit www.L3T.com/SPDES.

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 and commercial platforms. L3 is also a prime contractor in aerospace systems. 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.

View source version on businesswire.com: http://www.businesswire.com
Source: L3T
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