Engility Awarded Prime Position on $750 Million Multiple Award Contract to Support the U.S. Navy's Space and Naval Warfare Systems Center Atlantic
CHANTILLY, Va.--(BUSINESS WIRE)-- Engility Holdings, Inc. (NYS: EGL) today announced that it has been selected as a prime contractor for a multi-million dollar contract to support the Space and Naval Warfare Systems Center (SPAWARSYSCEN) Atlantic, Charleston, S.C.
Engility will provide Communications, Command and Control, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) and Information Technical (IT) expertise to SPAWARSYSCEN Atlantic in support of customers in Charleston, central Europe and other locations outside the continental United States. The required services will include engineering, procurement, installation, maintenance and technical support for a wide variety of world-wide C4ISR initiatives and programs.
One of the primary goals of this contract is to further enable U.S. Navy initiatives in terms of C4ISR and IT along with associated support services. The potential cumulative value of this indefinite-delivery/indefinite-quantity multi-award contract is an estimated $750,000,000 to be shared among the winning bidders.
"This contract is new but it represents an expansion of the critical support services Engility has been providing for the past 12 years to the SPAWARSYSCEN Atlantic enterprise," said Tony Smeraglinolo, President and CEO of Engility. "We have a highly skilled team of professionals who currently provide superior engineering and innovative IT support to SPAWAR and its customers. We are very pleased to have the opportunity to help make a difference on behalf of the Navy and its Federal government partners."
About Engility Corporation
Engility is a pure-play government services contractor providing highly-skilled personnel wherever, whenever they are needed, in a cost effective manner. Headquartered in Chantilly, Va., Engility is a leading provider of systems engineering services, training, program management, and operational support for the U.S. government with about 8,000 employees worldwide and estimated sales of $1.6 billion for 2012. To learn more about Engility, please visit www.engilitycorp.com.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the Exchange Act) relating to our operations, results of operations and other matters that are based on our current expectations, estimates, assumptions and projections. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate.
Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. Risks, uncertainties and other factors that might cause such differences, some of which could be material, include, but are not limited to: (a) the loss or delay of a significant number of our contracts; (b) a decline in or a redirection of the U.S. defense budget; (c) the Department of Defense's wide-ranging efficiencies initiative, which targets affordability and cost growth; (d) the intense competition for contracts in our industry, as well as the frequent protests by unsuccessful bidders; (e) our indefinite delivery, indefinite quantity (IDIQ) contracts, which are not firm orders for services, and could generate limited or no revenue; (f) our government contracts, which contain unfavorable termination provisions and are subject to audit and modification; (g) the mix of our cost-plus, time-and-material and fixed-price type contracts; (h) our ability to attract and retain key management and personnel; (i) the impairment of our goodwill and other long-lived identifiable intangible assets, which represent a significant portion of the assets on our balance sheet; (j) changes in regulations or any negative findings from a U.S. Government audit or investigation; (k) current and future legal and regulatory proceedings; (l) risks associated with our international operations; (m) security threats and other disruptions; (n) U.S. federal income tax liabilities that relate to the distribution in the spin-off of Engility; (o) our inability to meet the financial reporting and other requirements to which we are now subject following the spin-off due to inadequate accounting and other management systems and resources; (p) our inability to achieve some or all of the benefits that we expect to achieve from the spin-off; (q) the reluctance of our customers, prospective customers and suppliers that may be uncertain as to our financial stability as a stand-alone entity to continue to do business with us; (r) the level of indebtedness that we incurred in connection with the spin-off, our ability to comply with the terms of our debt agreements and our ability to finance our future operations, if necessary; (s) potential liabilities arising out of state and federal fraudulent conveyance laws and legal distribution requirements as a result of the spin-off; and (t) the additional costs that we may incur as an independent company. For a more detailed discussion of these factors, see the information under the heading "Risk Factors" in the Information Statement included in our Registration Statement on Form 10, as amended and filed with the SEC on June 27, 2012. Forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, historical information should not be considered as an indicator of future performance.
KEYWORDS: United States North America Virginia
The article Engility Awarded Prime Position on $750 Million Multiple Award Contract to Support the U.S. Navy's Space and Naval Warfare Systems Center Atlantic originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.