Signal Technology Begins Trading on the Nasdaq National Stock Market
Signal Technology Corp. (STC, Danvers, MA) began trading on the Nasdaq National Stock Market under the ticker symbol STCO. STC, which has traded as STZ on the American Stock Exchange, opened at $24.5, rising by $0.375 at midday and closed the day at $26.
STC had sales of $82.4 million in 1999, compared with sales of $92.0 million in 1998. During the same period, the company reversed its operating loss of $6.6 million in 1998 and posted an operating profit of $5.5 million in its most recent fiscal year.
The company's Keltec Operation (Fort Walton Beach, FL) recently received a contract from Marconi Aerospace Systems, Advanced Systems Division, to design and develop new low-cost power supplies for its APX-111 identification Friend or Foe transponder. These multi-output, low-voltage power supplies will be used on the US Navy F/A-18E/P aircraft.
“STC/Keltec was awarded this development contract based on positive prior contract performance," stated John Cotumaccio, president of the Keltec Operation. “STC/Keltec also demonstrated its ability to team with customers and become part of their Integrated Product Development process."