WFI Government Services, Inc. Announces New Contract Wins and Contract Extensions With an Estimated Value of Approximately $4 Million
SAN DIEGO, Nov 07, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- 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 that its Government Services Division has been awarded previously unannounced contracts, extensions, and contract vehicles, in the third quarter with an estimated total value of approximately $4 million over five years, if all option periods are exercised.
Announced earlier during the third quarter were contracts and contract vehicles with an expected value over the terms of the contracts totaling approximately $62 million. Some of the most significant DoD wins included four individual awards to provide a complete range of RFID equipment and services to meet the requirements and rapid deployment schedules of RFID infrastructure across the DoD. In another significant contract, WFI was selected for the engineering, installation, maintenance and technical support for various C4I systems installed on U.S. Navy submarines. Also, WFI was selected by SAIC to provide program management and engineering and technical services in support of their recently awarded Navy Automatic Identification Technology Program Office contract. Additionally, WFI was awarded a contract to provide aerial target related services for the U.S. Army at White Sands Missile Range, further strengthening WFI's position as one of the larger providers of aerial target related services. Other awards included the Department of Defense Technical Support Working Group (TSWG) with the development and deployment of the Tactical Survey(TM) technology solution, a pre-incident planning tool for first responders.
"The awards announced today represent individual contract awards and contract extensions that were not previously announced in the third quarter," commented Eric DeMarco, WFI's President and CEO. "As these awards and the awards previously announced in the third quarter demonstrate, we are continuing to build awareness and gain traction in the various sectors of government. We look forward to continuing this momentum in the future."
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 integrated network 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: Michael Baehr VP of Communications Wireless Facilities, Inc. 858.228.2799 Direct michael.baehr@wfinet.com Investor Contact: Rochelle Bold Senior VP of Corporate Development & Investor Relations Wireless Facilities, Inc. 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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