ManTech International Corporation (NASDAQ:MANT) was awarded a new contract by the U.S. Marine Corps Systems Command to provide maintenance and on-the-job training for the Cougar family of mine resistant ambush protected (MRAP) vehicles. The award is valued at $30.3 million with a four month base period and two option years for a total twenty-eight month period of performance.
ManTech will provide field service representatives to conduct initial inspections and perform vehicle repairs, sustainment maintenance, retrofits, instruction, and modifications to all Marine Corps Cougar MRAP vehicles in Afghanistan and the continental United States. ManTech will also provide field-level maintainer instructors and certified instructors teaching all courses at Camp Lejeune, N.C., Camp Johnson, N.C., and the U.S. military’s MRAP operator and maintenance training facility at the Red River Army Depot in Texarkana, Texas. Additional work will be performed at overseas locations including Japan and Jordan, as requested.
This is the second major MRAP contract won by ManTech in the last three months. In May the U.S. Army’s TACOM Contracting Center awarded ManTech a five-year contract with a $2.85 billion ceiling to continue sustainment of the U.S. Army's MRAP family of vehicles.
“MRAP vehicles continue to save lives, and ManTech has been helping keep MRAP and route clearance vehicles operational since 2003,” said Louis M. Addeo, president and chief operating officer of ManTech’s Technical Services Group. “We are honored to be selected to extend our support to the Marine Corps’ Cougar MRAP fleet.”“ManTech is proud of our sustainment record in support of Army and joint force MRAP programs,” added Kevin C. Cody, business unit president of ManTech’s Systems Sustainment and Integrated Logistics business unit. “We are excited to take on this new work supporting U.S. Marine Corps MRAP vehicles.” About ManTech International Corporation ManTech is a leading provider of innovative technologies and solutions for mission-critical national security programs for the intelligence community; the Department of Defense, including its health organizations; the departments of State, Homeland Security, Energy and Justice, including the Federal Bureau of Investigation (FBI); the space community; the National Oceanic and Atmospheric Administration; and other U.S. federal government customers. We provide support to critical national security programs for approximately 60 federal agencies through 1,000 current contracts. ManTech's expertise includes command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) lifecycle support; cyber security; global logistics support; intelligence/counter-intelligence support; information technology (IT) modernization and sustainment; systems engineering; test and evaluation; and health IT. ManTech supports major national missions, such as military readiness, terrorist threat detection, information security and border protection. Additional information on ManTech can be found at www.mantech.com. Forward-Looking Information Statements and assumptions made in this press release, which do not address historical facts, constitute "forward-looking" statements that ManTech believes to be within the definition in the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties, many of which are outside of our control. These forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes we anticipate. Factors that could cause actual results to differ materially from those we anticipate include, but are not limited to: adverse changes in U.S. government spending and mission priorities; government contract procurement (such as a bid protest) risks; the failure to obtain option awards, task orders or funding under the contract; risk of contract renegotiation, performance, modification, or termination; and competition. These and other risk factors are more fully discussed in the section entitled "Risks Factors" in ManTech's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on Feb. 24, 2012, and from time to time in ManTech's other filings. The forward-looking statements included in this news release are only made as of the date of this press release, and ManTech undertakes no obligation to publicly update any of the forward-looking statements made herein, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts