News Release
U.S. Navy Orders Submarine Launch Tubes
From Horne International Subsidiary
Spectrum Sciences & Software, Inc., receives order
valued at nearly $640,000
Fairfax, VA — July 24, 2007 — Horne International, Inc. (OTCBB: HNIN) today announced that the U.S. Navy has issued an order to Spectrum Sciences & Software, Inc., to deliver 142 launch tubes to the Navy Public Works Center in San Diego, California. The value of this contract is $637,620. Spectrum is a wholly owned subsidiary of Horne International, Inc., a leading program engineering and technology solutions company.
The precision manufactured stainless steel launch tubes are for use on U.S. Navy submarines. Under this delivery order, Spectrum is responsible for acquisition, quality assurance, certification of compliance with customer specifications, and delivery. The period of performance extends to February 29, 2008, for delivery of 142 launch tubes.
“The Navy’s order for 142 launch tubes is a significant milestone for Spectrum,” said Darryl K. Horne, Chairman, President and Chief Executive Officer of Horne International. Since the original contract to provide launch tubes was signed in July 2004, the cost of raw materials has increased dramatically, well beyond the prices envisioned by the agreement. After extensive negotiations between Spectrum and the U.S. Navy, this latest order for launch tubes takes into consideration the higher costs for raw materials.
“Spectrum’s past performance is a key factor for this latest order for launch tubes from the U.S. Navy,” said Horne. “We have worked closely with the Navy and met or exceeded all of its requirements for the past three years. With this history of unparalleled performance and support, the Navy was willing to work with us to come up with a price that was fair for both parties.”
About Horne International, Inc.
Horne International (OTCBB: HNIN) delivers uniquely engineered solutions that advance some of today’s foremost agendas — winning the war on terrorism, strengthening national security, and fostering environmental sustainability. Service areas include program engineering; technology; manufacturing; maritime and industrial repair; environment, safety, and health; acquisition services; public outreach; and business process engineering. More information can be found at www.horne.com.
Forward-Looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
