SAN DIEGO, May 9, 2007 (PRIME NEWSWIRE) -- 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 it has been selected as part of the winning team to compete for future task orders under the Anti-Terrorism Force Protection (ATFP) Ashore contract. The team, headed by Northrop Grumman Corp., was selected by the U.S. Naval Facilities Engineering Command (NAVFAC). Three other company-led teams were also selected to compete for tasks throughout the five-year contract period.
The ATFP is a performance-based, indefinite-delivery-indefinite-quantity (IDIQ) contract that covers one base year and four option years. The four teams selected will compete for tasks which, all totaled, have a contract ceiling of up to $500 million over the five-year time period. WFI estimates its portion of the award to be approximately $15 million. The purpose of the ATFP contract is to Procure, Install, and Maintain various types of equipment at DoD facilities, including Physical Security equipment (PSE) for electronic security, waterside security, C2 Operation Centers, and Explosive & Contraband Detection centers; and, Chemical, Biological, and Radiological (CBR) sensors and collective protection gear.
"We are extremely proud to be on the winning team with Northrop Grumman," said Robin Mickle, president of WFI's Government Services Division. "WFI's capabilities in integration of Physical Security systems, C2 Operations Center O&M, and our presence in key DoD concentration areas such as Southern California and Hawaii, will be a huge advantage to this team."
"The Worldwide Force Protection contract vehicle is a terrific opportunity for WFI to provide its extensive physical security systems integration capabilities to Federal Government agencies," said Eric DeMarco, president and CEO of WFI. "WFI continues to increase its support to the nation in the areas of Homeland Security and DoD force security, and we are pleased to team with Northrop Grumman on this important contract vehicle."
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 a leading provider of professional services in the areas of defense, technology, security solutions and wireless network deployment. With approximately 2,000 professionals, WFI specializes in IT services, 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. WFI performs work for a range of federal government agencies, including the U.S. Department of Defense, various state and local agencies, Fortune 1000 enterprise companies and wireless carriers. 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.