TEWKSBURY, MA--(Marketwire - January 24, 2011) - Tactical Communications Group (TCG), the leading independent supplier of tactical data link (TDL) software solutions for military test, training, simulation and operational users worldwide, today announced another record year for revenues, with 2010 revenues increasing 21 percent over 2009. This represents the fifth consecutive year of substantial revenue growth for TCG, with these record 2010 results reflecting continued strong worldwide demand in both U.S. and international markets for its LinkPRO, Battlefield Operations Support System (BOSS) and Ground Tactical Data Link System (GTS) solutions, and growing revenue contributions from TCG's expanding distribution relationships with major aerospace and defense prime contractors.
In addition, to lead the company during its next phase of growth, TCG has appointed Ed Durkin as President and CEO, as well as expanded its leadership team and added a new Board member. Durkin most recently served as TCG's Executive VP and COO and a member of the TCG Board, and brings over 27 years of experience in leadership, financial and business development roles, including experience leading public and private high technology companies through IPO or acquisition events.
TCG also announced the following additional organizational changes :
- Founder, President and CEO Martin F. McDonough, who was instrumental in the Company's early successes and recent revenue growth, announced his retirement as President and CEO, and from the Company's Board, effective January 2011. While retiring, Mr. McDonough will continue to serve in a consultative role to TCG, and be available to assist TCG in its continuing growth and success.
- Michael Hiney, Founder, Vice President and General Manager of TCG will replace Mr. McDonough on the TCG Board. In addition to his new Board responsibilities, Mr. Hiney will continue to oversee all of TCG's product development, QA, technical field operations and customer support functions, working closely with Frank Newark, Tom Myers, Nick Kropp, and David Rideout, TCG directors who oversee these respective functions.
- Adam Jarnagin was named Director of Sales for TCG. Mr. Jarnagin joins TCG from AGI, where he had a highly successful sales and business development career, and was responsible for recently closing the largest sale in AGI's 21-year history with a major US prime contractor.
- Steven DesJardins was named Director of International Business Development for TCG. Mr. DesJardins was most recently Manager of Global Business Development at Northrop Grumman, where he participated in many successful major contract wins. Prior to Northrop, Mr. DesJardins had a very successful career with the US Navy, in increasingly responsible leadership positions.
- Mr. Steven Horsburgh was promoted to Director of Product Management. In this new role, Mr. Horsburgh will oversee the Company's rapidly expanding product line and ensure enhancements to the Company's product portfolio are properly aligned with market demand and the needs of TCG's rapidly growing global customer base. Mr. Horsburgh previously held a similar role at ATK, a multi-national company serving the defense and aerospace industry with 2010 sales in excess of $4.5 billion.
In addition to these organizational changes and record 2010 revenue results, other Company highlights for 2010 included:
- A significant expansion in the Company's software development team, providing the Company additional capacity to quickly innovate and introduce new capabilities and products to market.
- The introduction of key new operational features to market, such as Situational Awareness Data Link (SADL), allowing the Company to address new market opportunities and provide its customers with additional capabilities to ensure mission success.
- The operational use of TCG's LinkPRO products for command and control systems throughout countries in the Middle East, Asia Pacific and Northern Europe.
- The introduction of important new capabilities for the Company's BOSS and GTS/GSS products, such as network enabled weaponry message support and operator ease-of-use enhancements.
- An expansion of the scope of joint sales, marketing and business development initiatives with Saab, including close integration of TCG's LinkPRO software with Saab's market-leading STRIC system.
- Progress with partnership discussions with other major prime defense contractors which the Company believes will accelerate its growth in 2011 and beyond.
"2010 was another very successful year for TCG in many ways," said Edward Durkin, TCG's President and CEO. "In addition to our record revenue results, we made significant product line improvements and have expanded the breadth of our relationships with major global prime partners, positioning us well for accelerated growth in 2011 and beyond. We also have enhanced our sales and business development talent and capacity with the addition of Adam and Steve who will work closely with Gary Zimmerman, Dave Boyer and Tom MacLeod to cover the growing list of business opportunities for TCG. With many exciting product enhancements forthcoming shortly, and with our growing distribution partnerships, 2011 should be a very exciting year for TCG, and I look forward to working with Mike Hiney, Vice President of Administration Kevin Mawn and the rest of the TCG team to capitalize on the major opportunity in front of us. Finally, we would like to congratulate Marty McDonough on his retirement, and thank him for his many years of leadership and his significant contributions to TCG."
About Tactical Communications Group
Founded in 2001, Tactical Communications Group (TCG) is the leading independent supplier of tactical data link software solutions for military communications worldwide. Its powerful, flexible software solutions minimize the time, cost and effort required to build, integrate, test, and deploy military systems that need connectivity and interoperability with tactical data link networks. TCG's complete tactical data link (TDL) product line includes military testing software, used to ensure compliance of TDL solutions to military standards using the BOSS test solution; military multi-link training systems for battlefield readiness with using TCG's GTS training solution; and live operational systems for secure warfighter communications enabling better operational coordination and increased mission effectiveness using TCG's LinkPRO software. TCG's customers include leading military organizations, systems integrators and test agencies worldwide. TCG is headquartered in Tewksbury, MA with offices in Newport News, VA, Nellis AFB, NV, Orlando, FL and San Diego CA. For additional information, please visit us at www.g2tcg.com or call at 978-654-4800.
Contact Information:
Dana Harris
Red Javelin Communications, Inc.
978-440-8392