Argon ST / STST

About Argon ST

12701 Fair Lakes Cir., Suite 800, Fairfax, Va. 22033
www.argonst.com | 703-322-0881 | Founded: 1968

Industry: Aerospace And Defense | Category: Public Companies

Argon ST, which declared fiscal 2005 a record-breaking year for revenue, profit and earnings per share, suffered a setback when the government canceled its contract with Lockheed Martin Corp. to develop a new Army spy plane, the Aerial Common Sensor. Argon had a $73.5 million subcontract from Lockheed on the program.
Lockheed had struggled to fit all of the required technology on the regional jet it had chosen for the project. The government issued a stop-work order in September and officially canceled its contract with Lockheed in January of this year.
Analysts said they did not expect the cancellation to drag down Argon. The company has a "very significant backlog" of contracts, said Chris Donaghey, an analyst with SunTrust Robinson Humphrey, noting that employees hired for the spy plane were reassigned to other projects.
In September, Argon acquired Radix Technologies of Mountain View, Calif., which makes signal-processing equipment for military, intelligence and commercial use. In October, Forbes ranked the company No. 36 in its list of top 200 small businesses. Argon ST was created in 2004 with the merger of Argon Engineering Associates Inc. in Fairfax and Sensytech Inc. of Newington.

Chairman and CEO: Terry L. Collins

2005 Financial Data

Revenues: $271,754,000 | Net Income: $21,781,000
Asssets: $249,834,000 | Earnings Per Share: $1.06
Total employees: 723 | Local employees: 521