CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE: EGL) today announced that it has been selected as a prime contractor for a multi-million dollar contract to provide Production, Installation, and In-Service Support (PII) services to the Space and Naval Warfare Systems Center (SPAWARSYSCEN) Atlantic, Charleston, SC. The potential cumulative value of this indefinite delivery/indefinite quantity (IDIQ) multi-award contract is $899,543,000, if all options are exercised.
“Our exceptional team of professionals, who have been working side-by-side to support SPAWARSYSCEN Atlantic and its customers on other programs for several years, are looking forward to the opportunity to contribute to this critical military mission.”
Engility will provide a wide array of support services, including design, acquisition, production, integration, testing, installation, lifecycle support, and configuration management of certified Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance (C5ISR) capabilities. The company will also offer support for integrated systems and subsystems operating in sub-surface and surface platforms. In addition, Engility’s work will support submarine and shore-based new construction and modernization.
“The PII pillar contract represents an important win for Engility, and we are very proud and honored to have been selected for this award,” said Tony Smeraglinolo, President and CEO of Engility. “Our exceptional team of professionals, who have been working side-by-side to support SPAWARSYSCEN Atlantic and its customers on other programs for several years, are looking forward to the opportunity to contribute to this critical military mission.”
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, Virginia, Engility is a leading provider of systems engineering services, training, program management, and operational support for the U.S. Government with about 7,800 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 on 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 U.S. Department of Defense’s (DoD) 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, which represents 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 spinoff of Engility; (o) our ability to meet the financial reporting and other requirements to which we are now subject following the spinoff due to inadequate accounting and other management systems and resources; (p) our ability to achieve some or all of the benefits that we expect to achieve from the spinoff; (q) our ability to achieve the expected benefits from our strategic realignment plan; (r) 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; (s) the level of indebtedness that we incurred in connection with the spinoff, our ability to comply with the terms of our debt agreements, and our ability to finance our future operations, if necessary; (t) potential liabilities arising out-of-State and Federal fraudulent conveyance laws and legal distribution requirements as a result of the spinoff; and (u) 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 Securities and Exchange Commission (SEC) on June 27, 2012, and other filings with the SEC. 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.