Question-and-Answer Session
Your first question comes from the line of Tim Quillin with Stephens, Inc.
Earl R. Lewis - Chairman, President and Chief Executive Officer
Hello, Tim Quillin.
Timothy Quillin - Stephens Inc.
I like that. Good morning.
Earl R. Lewis - Chairman, President and Chief Executive Officer
How are you?
Timothy Quillin - Stephens Inc.
Great quarter.
Earl R. Lewis - Chairman, President and Chief Executive Officer
Thank you.
Timothy Quillin - Stephens Inc.
What can you tell us about the timing of shipments of the $112 million order from Army Space and Missile Defense Command? Did all of that $112 million go into your backlog?
Earl R. Lewis - Chairman, President and Chief Executive Officer
Almost all of it, Tim.
Timothy Quillin - Stephens Inc.
Okay. And then in terms of the remaining IDIQ value, a bill alluded to the potential for additional orders. But how should we think about the timing of additional orders and shipments under the remaining contract value?
Unidentified Company Representative
Well as you know, these IDIQs are just that; they are indefinite delivery and definite quantity. And so the prediction of when we will get the releases on the... what was it, $562 million, I think, is the total we have now in both contracts in hand, is very difficult to predict. We did go back historically and look at that and it does seem like the take rate on that historically has been pretty good. In another words eventually they take them all; but predicting exactly when the releases will be is pretty hard, Tim.
Timothy Quillin - Stephens Inc.
And just one additional question regarding the un-cooled military market, and I think specifically the DV contract opportunity. How are you approaching that and do you have right now a product that meets the specs for DV or do you need to come up with a different sensor before the proposals are submitted. Thank you.
Earl R. Lewis - Chairman, President and Chief Executive Officer
We're approaching it very carefully. This is a major, major exercise in terms of our proposal. We believe that we currently have as good a product or better than they're using today. The special occasions for it are as they would like and we have to modify some of the things that we've done to get there. But we don't see anything in the design that they're asking for that we do not think we can meet; put it that way.
- To read the full transcript on Seeking Alpha, click here »
