Axsys Technologies Receives New $13.5 Million Order for Thermal Weapon Sight Lenses


ROCKY HILL, Conn., May 12, 2008 (PRIME NEWSWIRE) -- Axsys Technologies, Inc. (Nasdaq:AXYS) today announced that it has received a new $13.5 million infrared lens order for the U.S. Army's Thermal Weapon Sight II (TWS) Bridge program. The majority of this order is expected to ship in 2009.

"This new order solidifies Axsys' position as the premier supplier of infrared lenses for the Thermal Weapons Sight, one of the U.S. military's most important infrared programs," said Scott B. Conner, President and COO of Axsys Technologies. "Axsys' recently announced expansion in the southern New Hampshire area will provide the additional capacity for both this program specifically, and the continuing growth of the infrared industry in general."

About Axsys

Axsys Technologies, Inc. is a global leader in the design and development of high-performance surveillance cameras, imaging systems and related motion control technologies, serving the aerospace, defense, and high-performance commercial markets. For more information, visit www.axsys.com.

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. One can identify these forward-looking statements by the use of the words such as "expect," "anticipate," "plan," "may," "will," "estimate" or other similar expressions. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially. Important factors, which could cause actual results to differ materially, are described in Axsys' reports on Form 10-K and Form 10-Q on file with the Securities and Exchange Commission, including without limitation: changes in the U.S. federal government spending priorities; the Company's ability to compete in the industries in which it operates, including the introduction of competing products or technologies by other companies and/or pricing pressures from competitors and/or customers; the potential for the Company's backlog to be reduced or cancelled; the Company's ability to implement its acquisition strategy and integrate its acquired companies successfully, including the recent acquisition of Cineflex; the Company's ability to manage costs under the Company's fixed-price contracts effectively; and changes in general economic and business conditions. These statements reflect the Company's current beliefs and are based upon information currently available to the Company. Be advised that developments subsequent to this release are likely to cause these statements to become outdated with the passage of time, and we specifically disclaim any obligation to update these statements.


            

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