FARMINGDALE, N.Y., April 19, 2021 /PRNewswire/ -- Telephonics Corporation, a wholly owned subsidiary of Griffon Corporation (NYSE:GFF), announced today that it has been awarded a support contract from Lockheed Martin for its AN/APS-153(V) Multi-Mode Maritime Surveillance Radar (MMR) and Communication System Control Group (CSCG) products supporting the U.S. Navy's MH-60R and MH-60S maritime helicopters. The initial contract has a five-year base, running through 2025, and a two-year option with a contract value of $162M with current funded backlog of $84M.

Through this award, part of the U.S. Navy's Performance Based Logistics (PBL) contract in support of the MH-60R and MH-60S, Telephonics will conduct spares procurement, supply test equipment, and complete repair/replacement work on critical components of both the MMR and CSCG products supporting aircraft sustainment needs.  The AN/APS-153(V) is an advanced radar system providing flight crews of the MH-60R with enhanced littoral and maritime domain awareness, while the CSCG is the communication backbone of both aircraft, providing the aircrews access to military and Air Traffic Control (ATC) radios, radio navigation aids, and onboard intercommunication nets.

For more information about Telephonics and its advanced surveillance and communications capabilities, please contact Kimberly Chernick at [email protected] or visit www.telephonics.com.

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Griffon is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital.

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"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Certain statements other than statements of historical fact included in this release are forward-looking statements. Such forward-looking statements are based on the beliefs of the company's management, as well as assumptions made by and information currently available to the company's management.  Actual results could differ materially from those contemplated by the forward-looking statements. Information concerning risks and uncertainties that may impact the company's results and forward-looking statements are set forth in Griffon Corporation's filings with the SEC.  The company does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.