WFI Selected as Part of Team for U.S. Navy Submarine Engineering, Installation and Maintenance Services Contract
SAN DIEGO, Sept 29, 2005 /PRNewswire-FirstCall via COMTEX/ -- Wireless Facilities, Inc. (WFI) (Nasdaq: WFII), a global leader in the design, deployment, and management of wireless communication networks, technology networks and security systems, announced today it has been selected as a subcontractor to a large global defense firm for the engineering, installation, maintenance and technical support for various Combat Control and C4I (Command, Control, Communications, Computers and Intelligence) systems installed on board U.S. Navy submarines. The award has a potential value of $30 million over a five- year period.
Under the terms of this award, WFI will perform work under a subcontract in support of the Naval Undersea Warfare Center (NUWC) in Keyport, Washington, primarily aboard submarines located in Hawaii and Guam. Technical services performed under this contract include developing installation packages in support of combat systems and C4I upgrades, installing the C4I system upgrades, conducting pre- and post-installation testing and equipment verification, and maintaining a NAVSEA-approved quality assurance program.
"It is a significant win for our government services division to have been selected as part of this team, further illustrating our growing reputation as a technical services leader in the government arena," said Eric DeMarco, President and CEO of WFI. "We take pride in being chosen for this important defense contract. With the significant security threats around the world, providing quality engineering services and systems installation support to our armed forces is an important mission for WFI."
"Building on this strategic partnership with the Naval Undersea Warfare Center gives us the opportunity to provide advanced technology and expertise to our customer, and underscores our commitment to being a valued team member in the growing area of public safety and national defense," said Steven Roth, President of WFI Government Services, Inc.
WFI Government Services, Inc. is a wholly-owned subsidiary of the Company, with offices and project locations throughout the United States. Areas of expertise include technical resources consulting, logistics and RFID solutions, homeland security and public safety applications and communications technology services.
About WFI
Headquartered in San Diego, CA, WFI is an independent provider of systems engineering, network services and technical outsourcing for the world's largest wireless carriers, enterprise customers and for government agencies. The company provides the design, deployment, integration, and the overall management of wired and wireless networks which deliver voice and data communication, and which support advanced security systems. WFI has performed work in over 100 countries since its founding in 1994. News and information are available at www.wfinet.com. (code: WFI-mb)
Notice Regarding Forward-Looking Statements
This news release contains certain forward-looking statements including, without limitation, expressed or implied statements concerning the Company's expectations regarding future financial performance and market developments that involve risks and uncertainties. Such statements are only predictions, and the Company's actual results may differ materially. Factors that may cause the Company's results to differ include, but are not limited to: changes in the scope or timing of the Company's projects; slowdowns in telecommunications infrastructure spending in the United States and globally, which could delay network deployment and reduce demand for the Company's services; the timing, rescheduling or cancellation of significant customer contracts and agreements, or consolidation by or the loss of key customers; the adoption rate of new wireless data services; financial constraints on our customers that could cause us to write off accounts receivable or terminate contracts; failure to successfully consummate acquisitions or integrate acquired operations; changes in the Company's effective income tax rate; the rate of adoption of telecom outsourcing by network carriers and equipment suppliers; the rate of growth of adoption of WLAN and wireless security systems by enterprises; and competition in the marketplace which could reduce revenues and profit margins. The Company undertakes no obligation to update any forward-looking statements. These and other risk factors are more fully discussed in the Company's Annual Report on Form 10-K filed on March 31, 2005 and in other filings made with the Securities and Exchange Commission.
Media Contact: Investor Contact: Michael Baehr Rochelle Bold VP of Communications Senior VP of Corporate Wireless Facilities, Inc. Development & Investor Relations 858.228.2799 Direct Wireless Facilities, Inc. michael.baehr@wfinet.com 858.228.2649 Direct rochelle.bold@wfinet.com
SOURCE Wireless Facilities, Inc.
Media, Michael Baehr, VP of Communications, +1-858-228-2799, michael.baehr@wfinet.com, or Investors, Rochelle Bold, Senior VP of Corporate Development & Investor Relations, +1-858-228-2649, rochelle.bold@wfinet.com, both of Wireless Facilities, Inc.
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