Irvine Sensors' Government Contracts Total $9.5M for Quarter
Vision systems maker Irvine Sensors Corp. of Costa Mesa, Calif., announced yesterday that, in its current fiscal quarter, it has received several new government research and development contracts, and incremental add-ons to existing government contracts, worth approximately $9.5 million in total. Of the 9.5 million, approximately $7.3 million is fully funded and $1.1 million relates to development funding and product orders for the company's infrared cameras, Irvine Sensors said. The largest award was a $5.6 million cognitive systems contract announced in May. The company said the awards are expected to contribute to its revenues in both fiscal 2006 and 2007.