CHANTILLY, Va., July 28, 2015 /PRNewswire/ -- Engility Holdings, Inc. (NYSE: EGL), today announced that TASC, an Engility company has been awarded a $67 million contract to provide systems engineering and integration (SE&I) for the U.S. Air Force Global Positioning Systems (GPS) Directorate, the agency responsible for ensuring the space-based satellite navigation system is operational.
The contract, known as the GPS SE&I, has a two-year base with options to extend TASC's support to 6.5 years with a value of more than $200 million. The award represents new work and was made by the USAF Space and Missile Systems Center.
GPS is developed and deployed by the U. S. Air Force, the Federal government's steward of the system. TASC will provide and deliver updated versions of the technical baseline for the GPS enterprise, which includes the system's user and operational requirements, program and product information, and other related configuration and data specifications. TASC will also provide approvable products that are required for Department of Defense milestone approvals, and support processes that ensure the highest quality and functionality for an accurate and reliable GPS. In addition, TASC will analyze and recommend alternatives to enterprise-level changes under consideration by the government as well as provide a range of other systems engineering support.
"GPS provides a worldwide navigational component that is a key piece to our nation's critical infrastructure and we are honored to support its mission," said Engility President and CEO Tony Smeraglinolo. "This contract adds to our solid base for space and launch work on the West Coast and will enable us to continue developing strong systems engineers and analysts for future capabilities."
Work under this contract will be performed at Los Angeles Air Force Base under cost-plus-fixed-fee and firm-fixed-price components.
Engility is a pure-play government services provider that delivers highly skilled personnel wherever, whenever they are needed in a cost-efficient manner. The company proudly serves customers that span the federal services market including the Department of Defense, the Intelligence community, Space and Federal Civilian agencies. Headquartered in Chantilly, Virginia, Engility is a leading provider of specialized technical consulting, program and business support services, engineering and technology lifecycle support, information technology, modernization and sustainment, supply chain services and logistics management, and training and education for the U.S. Government. To learn more about Engility, please visit www.engilitycorp.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Engility's future prospects, projected financial results, estimated integration costs and acquisition related amortization expenses, and business plans. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are also used to identify these forward-looking statements. These statements are based on the current beliefs and expectations of Engility's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause Engility's actual results to differ materially from those described in the forward-looking statements can be found under the heading "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2014 and more recent documents that have been filed with the Securities and Exchange Commission (SEC) and are available on the investor relations section of Engility's website (http://www.engilitycorp.com) and on the SEC's website (www.sec.gov). 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.
SOURCE Engility Holdings, Inc.