SKYDEX Continues Strong Growth from Military Sales Revenues In September and October
SKYDEX Technologies – the industry leader in developing innovative technologies that mitigate shock, vibration and energy forces for the most demanding applications – today announced continued corporate growth and strong revenues from military contracts. Contracts for SKYDEX Convoy Deck and Impact Mitigating Boat Deck (IMBD) products topped $7.9 million in September and October. SKYDEX has experienced tremendous growth over the past four quarters, adding engineers, manufacturing and sales support to help manage the increasing demand for its products. Projected revenue from military contracts and commercial applications is expected to continue to grow as the company expands into additional applications. “SKYDEX has been very fortunate to be in a position where our products are not only in high demand, but are also in a growing market,” said SKYDEX President and CEO Mike Buchen. “Our products are the best performing in the industry and we will continue to design, manufacture and improve products that protect our troops, whether on land or sea.” The SKYDEX Convoy Deck has already been installed on more than 14,000 Mine Resistant Ambush Protected (MRAP) vehicles, including the RG-31, Cougar, and Oshkosh M-ATV. The product is now standard equipment in new Oshkosh and GDLS-C M-ATVs. Earlier this year, both GDLS-C and Oshkosh signed multi-million-dollar agreements with SKYDEX to provide its Convoy Deck for 200 new GDLS-C Stryker vehicles deploying to Afghanistan and for over 1,400 Oshkosh M-ATV vehicles. Independent testing shows the Convoy Deck reduces the chance of injury to crewmembers aboard an armored vehicle exposed to a typical IED blast by 90 percent. The SKYDEX IMBD is uniquely designed to absorb energy transmitted through boat hulls crashing into waves during high speed maneuvering, protecting occupants on the boat. In a survey of Special Operations craft operators, 62% reported injuries incurred during maneuvering operations. SKYDEX’s patented, geometrically designed thermoplastic polyurethane (TPU) technology acts as a spring to absorb impacts and vibrations that would normally transfer directly through the boat deck to the occupant’s feet and legs, causing fatigue, discomfort and injury. SKYDEX Technologies employs its patented, twin-hemisphere design in multiple lines of products to protect warriors from harmful impacts and vibration. Its TPU technology has proven far more effective and far more resilient than foam products in a wide array of applications – from convoy decking to high impact boat decking to combative wall surfaces to vehicle and helicopter seating to ballistic helmet pads and body protection. SKYDEX’s innovations are fulfilling the need to absorb greater amounts of destructive energy in smaller spaces, using thinner, lighter materials to carry out on the battlefield. About SKYDEX SKYDEX, a privately held technology company headquartered in Denver, CO, is the industry leader in developing protective materials that mitigate shock, vibration and/or energy forces for the most demanding military and commercial uses. Our technologically advanced innovations include blast-mitigating flooring for combat vehicles, padding for military helmets, vibration-attenuating seating for both ground vehicles and helicopters, and shock absorbing decking for high speed interceptor boats. SKYDEX clients are government and commercial entities that value the increased survivability and reduced impact implications that SKYDEX technology provides to their most important assets – the human operator. Inspired by its motto – “Protecting People and Things That Matter®” – SKYDEX utilizes thermoplastic polyurethane and patented twin-hemisphere technology to design and manufacture a wide range of products for armed forces around the world. For more information, please visit www.skydex.com.