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MTC Awarded $8.8 Million Potential Value Contract for Air Force Communications Agency Support22 October 2005
MTC Technologies, Inc. and subsidiaries (Nasdaq: MTCT), a significant provider of engineering, information technology, and other technical solutions to the Department of Defense (DoD) and national security agencies, announced today that the Defense Information Technology Contracting Organization (DITCO) awarded a potential $8.8 million contract for Telecommunications Certification Office Support Systems (TCOSS) support for the Air Force Communications Agency (AFCA).
TCOSS is a set of executive-level tools that supports DoD long-haul communications provisioning and procurement business processes. The system is used by AFCA and other DoD agencies to manage over $2.5 billion each year in communications projects.
Initial funding of $1.6 million has been awarded for the first year of the contract, which has four option years with expected values of $1.8 million each. The work will be performed at Scott Air Force Base in Illinois, where MTC software engineers will maintain and enhance the multi-server system used for ordering communications components and equipment by Army, Air Force, Navy, Marine, FAA, and numerous commercial telecommunications organizations worldwide.
"TCOSS is an excellent example of our long term presence in software development and other Information Technology related areas," said David Gutridge, MTC Chief Executive Officer. "We are proud of our 12 years of IT work with TCOSS and are extremely pleased that this contract includes options to continue the work for the next five years."
MTC, through its wholly owned subsidiaries, provides systems engineering, information technology, intelligence, and program management services to the federal government. Cited by BusinessWeek as the 11th fastest growing small company in the United States, by Forbes as 23rd of America's 200 best small businesses, by Washington Technology as 59th in revenue growth among the "Top 100" of IT Federal Prime Contractors, and ranked 2nd by Aviation Week & Space Technology as the "Top Performing Small Company," MTC employs approximately 2,700 people in more than 40 locations. The company was founded in 1984 and is headquartered in Dayton, Ohio.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release that are not present or historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, forward-looking statements. These risks and uncertainties include: risks related to the growth of our FAST program, including strains on resources and decreases in operating margins; federal government audits and cost adjustments; differences between authorized amounts and amounts received by us under government contracts; government customers' failure to exercise options under contracts; changes in federal government (or other applicable) procurement laws, regulations, policies and budgets; our ability to attract and retain qualified personnel; our ability to retain contracts during re-bidding processes; pricing pressures; undertaking acquisitions that might increase our costs or liabilities or be disruptive; integration of acquisitions; and changes in general economic and business conditions. For more information concerning these risks and uncertainties, see the Securities and Exchange Commission filings for MTC. These statements reflect the Company's current beliefs and are based upon information currently available to it. Be advised that developments subsequent to this release are likely to cause these statements to become outdated with the passage of time, and we specifically disclaim any obligation to update these statements.
For further information on MTC, visit the website at http://www.mtctechnologies.com.
Source: PR Newswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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