MCLEAN, Va., April 18, 2011 /PRNewswire/ -- 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 $46 million over a five-year term with the U.S. Department of Housing and Urban Development ("HUD"). This contract represents the continuation of the Company's application systems support for HUD's Single Family Computerized Homes Underwriting System ("CHUMS") and FHA Connection as well as the potential for an expanded scope of services.
"ATSC is pleased to have been awarded this contract that supports critical, complex applications for HUD's Single Family loan origination and underwriting process as well as the secure business portal for lenders," said ATSC Co-Chief Executive Officer, John Hassoun. "ATSC has provided HUD with business, integration and technology-focused services for over thirty years and this award positions us to further broaden the range of support we provide this agency," added Mr. Hassoun.
About ATS Corporation
ATSC is a leading provider of mission-critical support in areas of recurring and fundamental services to the public. ATSC's main technical competencies include software and systems development, IT infrastructure and cloud computing, information sharing and assurance, IT and business consulting, and systems integration to Federal civilian agencies and national security customers, as well as commercial enterprises. ATSC technology professionals are recognized for their deep domain expertise in case management; border and port security; and financial, supply chain management and health information systems. Headquartered in McLean, Virginia, the Company has approximately 500 employees at 5 locations across the country. Additional information about ATSC may be found at www.atsc.com.
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 February 17, 2011. In addition, the forward-looking statements included in this press release represent our views as of April 18, 2011. 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 April 18, 2011.
SOURCE ATS Corporation