WFI Government Services, Inc. Announces New Contract Wins and Contract Extensions With an Estimated Value of Approximately $40 Million
SAN DIEGO, Jan 23, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- 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, tasks and contract vehicles in the fourth quarter of 2005 with an estimated total value of approximately $40 million ranging in duration from one month to five years, if all option periods are exercised.
Some of the most significant wins during the fourth quarter included contract awards from various agencies of the U.S. Department of Defense (DoD) and other federal government agencies. These contracts included awards from the U.S. General Services Administration (GSA) and the U.S. Defense Logistics Agency (DLA) for technical integration of voice, data, and converged communications networks, and a large contract with a DoD agency to manage a wide-area Network Operations Center (NOC) for the next four years, which supports over 12,000 users.
"WFI's continues to win significant government awards, reinforcing the success of our long term vision for our government services division," stated Eric DeMarco, President and CEO of WFI. "We're experiencing contract wins from an increasingly diverse cross section of government agencies, which demonstrates the value our customers find in the technical capabilities we provide. We look forward to continuing this momentum."
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; cancellation or delay of funding of US Government programs or contracts, which could impact the timing and performance of our contracts with our government customers; 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 WFI
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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