Engility Holdings, Inc. (NYSE: EGL) today announced that it has received a contract to provide all personnel and services in support of mission command training for the U.S. Army’s Korea Battle Simulation Center (KBSC). The competitively solicited, single-award contract has a value of $69 million over four years, if all options are exercised.
Engility will provide personnel and services in support of the Korea Battle Simulation Center’s mission command training to include; exercise planning and execution, simulation and models training, subject matter expertise, over-the-shoulder training, technical support, communications, information assurance, C4ISR stimulation/simulation, battlefield visualization, opposing forces, after action reviews, exercise/event analysis and digital sustainment training.
“We are very proud to have the opportunity to work with the U.S. Army and the KBSC,” said Tony Smeraglinolo, President and CEO of Engility. “As a new, stand-alone company, this is an important achievement in Engility’s effort to be the best government services provider.
“The KBSC provides unique training capabilities and is a key component of the United States pacific engagement strategy and the United States/Republic of Korea strategic alliance. We are committed to supporting its mission to provide the force with a realistic, immersive and integrated training environment for full spectrum operations.”About Engility Corporation Engility is a pure-play Government Services contractor providing highly-skilled personnel wherever, whenever they are needed, in a cost effective manner. Headquartered in Chantilly, VA, Engility is a leading provider of systems engineering services, training, program management, and operational support for the U.S. government worldwide, with approximately more than 8,000 employees worldwide and projected sales of $1.6 billion for 2012. To learn more about Engility, please visit the company's website at www.engilitycorp.com. You can also find on the website a copy of the company's Form 10 Registration Statement, as filed with the Securities and Exchange Commission, which contains detailed business and financial information regarding Engility. Forward Looking Statements Certain material presented herein includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about the spin-off of Engility from L-3 Communications Holdings, Inc., the terms and the effect of the separation, the nature and impact of such a separation, capitalization of the companies, future strategic plans and other statements that describe Engility's business strategy, outlook, objectives, plans, intentions or goals, and any discussion of future operating or financial performance. Whenever used, words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target" and other terms of similar meaning are intended to identify such forward-looking statements. Forward-looking statements are uncertain and to some extent unpredictable, and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in, or reasonably inferred from, such forward-looking statements. Factors that could cause results to differ materially from those anticipated include, but are not limited to: the sale of Engility's shares by some L-3 Communications Holdings, Inc. shareholders after the distribution because Engility's business profile and market capitalization may not fit their investment objectives; changes in the U.S. Department of Defense budget levels and procurement priorities; actual or anticipated fluctuations in Engility's operating results due to factors related to Engility's business wins and losses on contract recompetitions and new business pursuits; success or failure of Engility's business strategy; Engility's quarterly or annual earnings, or those of other companies in Engility's industry; Engility's ability to obtain financing as needed; announcements by Engility or Engility's competitors of significant acquisitions or dispositions; changes in accounting standards, policies, guidance, interpretations or principles; the failure of securities analysts to cover Engility's common stock after the spin-off; changes in earnings estimates by securities analysts or Engility's ability to meet those estimates; the operating and stock price performance of other comparable companies; investor perception of Engility and the defense industry, including changing priorities or reductions in the U.S. Government defense budget; the availability of government funding and changes in customer requirements for Engility's products and services; natural or environmental disasters that investors believe may affect us; overall market fluctuations; fluctuations in the budget of federal, state and local governmental entities around the world; results from any material litigation or government investigation; changes in laws and regulations affecting Engility's business; general economic conditions and other external factors; and other factors in the Information Statement included in Engility's Registration Statement on Form 10 filed with the Securities and Exchange Commission. In addition, there are risks and uncertainties relating to the spin-off of Engility, including whether the transactions will result in any tax liability, the operational and financial profile of Engility or any of its businesses after giving effect to the spin-off transaction, and the ability of the business to operate as an independent entity. The forward-looking statements speak only as of the date made, and Engility undertakes no obligation to update these forward-looking statements.
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