WFI Government Services, Inc. Wins Recompete for Electronics Maintenance Group Subcontract Valued At Approximately $13 Million
SAN DIEGO, May 8, 2007 (PrimeNewswire via COMTEX News Network) -- WFI (Nasdaq:WFII), a leader in information technology, command and control systems, weapon systems operations and maintenance, security solutions and the deployment and management of 3G, 4G, WiMAX and other wireless broadband communication networks, announced today that its Government Division has won a recompete subcontract vehicle with Affordable Engineering Services (AES) for the Electronics Maintenance Group (EMXG) at Warner Robins Air Force Base. AES, based in Totowa, New Jersey, is a premier supplier of engineering support services to the Department of Defense community and is a SBA-certified 8(a) and HUBZone company. The one year subcontract has four one-year extension options and is valued at approximately $13 million if all option periods are exercised. WFI has provided Production Support Augmentation (PSA) to the 402d Electronics Maintenance Group at Robins AFB since 1999.
"We are extremely pleased to continue our EXMG support at Warner Robins Air Force Base," said Robin Mickle, president of WFI Government Services, Inc. "This has been a mutually beneficial contract for both the government and WFI, and over the years we have expanded our contract services not only to the 402d EMXG, but to other Groups within the Maintenance Wing at Robins as well."
In addition to supporting the ongoing partnership at Robins, specific responsibilities and duties of the subcontract include providing a simultaneously deployed, flexible workforce augmentation capability to the 402d EMXG, which has ranged from 7 to more than 130 technical personnel, whose capabilities are tailored to the specific augmentation capability required. This simultaneously deployed capability includes on site-supervision of eight skill sets ranging from electronic technicians to planners, budget analysts, engineers and administrative support. WFI-deployed capabilities range from complex diagnostics and repair, training, production & facility planning, program management, technical budget support, logistics support analyses, data analyses and general administrative services.
"The recompete contract announced today is a very good indication of WFI's deep customer relationships, quality of services, and of the general strength of our ongoing business," said Eric DeMarco, WFI's president and CEO. "As we have stated recently, WFI is evolving its business for greater predictability and reliability, and the Company's ability to win repeat contracts with the Federal Government is a key aspect of this strategy."
WFI Government Services, Inc. is a wholly-owned subsidiary of WFI, with offices and project locations throughout the United States. Areas of expertise include engineering design, systems engineering, weapons systems support and maintenance, integrated logistics, test and evaluation, public safety and communications technology services. Significant customers for WFI Government Services include various military branches of the U.S. Department of Defense, the Department of Homeland Security, NASA, and state and local government agencies.
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 an d 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 the timing and anticipated results of its internal review 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: risks that the stock option review will not be completed in a timely manner; risks that the review and the announcement thereof will cause disruption of the Company's operations and distraction of its management; risks that the review will identify other issues not currently being considered that could delay or alter the results of the review; risks of adverse regulatory action or litigation; risk that the Company's lender will declare a default under the Company's line of credit; changes or cutbacks in spending by the U.S. Department of Defense, which could cause delays or cancellations of key government contracts;; risks associated with the integration of MRC into WFI Government Services; risks associated with debt leverage;; 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; failure to successfully consummate acquisitions or integrate acquired operations; the rate of adoption of telecom outsourcing by network carriers and equipment suppliers;; 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 Quarterly Report on Form 10-Q for the period ended September 30, 2006 and in other filings made with the Securities and Exchange Commission.
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SOURCE: WFI
Ashton Partners Press Contact: Mike Banas 312-553-6704 Direct Investor Contact: Bryan Raassi 877-934-4687 investor@wfinet.com
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