ATS Corporation Announces New Contract Award Totaling $13.7 Million

Jun 10, 2010, 11:00 ET from ATS Corporation

MCLEAN, Va., June 10 /PRNewswire-FirstCall/ -- ATS Corporation ("ATSC" or the "Company") (NYSE Amex: ATSC), a leading information technology company that delivers innovative technology solutions to government and commercial organizations, today announced that it has been awarded a new contract totaling $13.7 million over a five-year term with the U.S. Department of Housing and Urban Development (HUD).  Under this contract, ATSC will continue to provide application systems support for HUD's Program Accounting System (PAS), Line of Credit Control System (LOCCS), and Bond Payment System.

ATSC Chairman and Chief Executive Officer Dr. Edward H. Bersoff commented: "ATSC has provided mission-critical software development and maintenance services to the Department of Housing and Urban Development for nearly 30 years.  This new award exemplifies a long track record of recompete wins for our company. More importantly, it is further testimony of the trust placed in ATSC as HUD continues to implement American Recovery and Reinvestment Act of 2009 mandates, several of which are made possible by systems that are maintained under this contract.  We anticipate ongoing revenue at levels comparable to those of the predecessor contract."

About ATS Corporation

ATSC is a leading provider of software and systems development, systems integration, infrastructure management and outsourcing, information sharing, training and consulting to the Department of Defense, Federal civilian agencies, public safety and national security customers, as well as commercial enterprises.  Headquartered in McLean, Virginia, the Company has more than 600 employees at 10 locations across the country. 

Any statements in this press release about future expectations, plans, and prospects for ATSC, including statements about the estimated value of the contract and work to be performed, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our dependence on our contracts with federal government agencies for the majority of our revenue, our dependence on our GSA schedule contracts and our position as a prime contractor on government-wide acquisition contracts to grow our business, and other factors discussed in our latest annual report on Form 10-K filed with the Securities and Exchange Commission on March 19, 2009, as amended on February 24, 2010. In addition, the forward-looking statements included in this press release represent our views as of June 10, 2010. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to June 10, 2010.

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SOURCE ATS Corporation