Coast Guard Awards Veridian $20.8 Million Contract.Business Editors ARLINGTON, Va.--(BUSINESS WIRE)--Oct. 1, 2002 Veridian Corporation (NYSE NYSE See: New York Stock Exchange :VNX) today announced that the United States Coast Guard United States Coast Guard U.S. military service that enforces maritime laws. It is under the jurisdiction of the Department of Homeland Security; in wartime it functions as part of the U.S. Navy. The Coast Guard enforces federal laws on the high seas and waters within U.S. has awarded its new business unit, Signal Corporation, a contract to provide integrated logistics support A composite of all the support considerations necessary to assure the effective and economical support of a system for its life cycle. It is an integral part of all other aspects of system acquisition and operation. Also called ILS. for its Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance Intelligence, Surveillance and Reconnaissance may refer to:
C4ISR Command, Control, Communications, Computer, Intelligence, Surveillance and Reconnaissance C4ISR Command Control Communications Computers Intelligence Surveillance and Reconnaissance ). If all options are exercised, the five-year cost plus fixed fee contract would be valued at $20.8 million. The contract was awarded just prior to Veridian's September 24, 2002, closing of the Signal acquisition. Signal now operates as Veridian's IT Services Division. Under the terms of the contract, Veridian's IT Services Division will provide a full range of integrated logistics and information technology services to support the Coast Guard's Intelligence Support System, its Intelligence Fusion Centers, and other components of the Coast Guard's secure infrastructure. Veridian President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. David H. Langstaff said, "We look forward to helping the Coast Guard improve its C4ISR infrastructure. The Coast Guard plays an increasingly important role in today's national security environment. We will bring all of Veridian's C4ISR and network architecture expertise to bear as we design a secure, reliable system." About Veridian Veridian is a leading provider of information-based systems, integrated solutions and services specializing in mission-critical national security programs for the intelligence community, the Department of Defense, law enforcement, and other U.S. government agencies. The company's capabilities include Network Security and Enterprise Protection; Intelligence, Surveillance and Reconnaissance; Knowledge Discovery and Decision Support; Chemical, Biological and Nuclear Detection; Network and Enterprise Management; and Systems Engineering Services. For more information about the company, visit www.veridian.com. Forward Looking Information Certain statements and assumptions in this news release contain or are based on "forward-looking" information that Veridian Corporation believes to be within the definition in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are subject to numerous assumptions and uncertainties, many of which are outside of our control. These include, among others: the failure of the Government to exercise options to the contract or allot funds to complete performance; risks of contract performance; and risks of contract termination by the Government. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Prospectus contained in Veridian's Registration Statement on Form S-1, as amended (File Number 333-83792), and from time to time, in Veridian's other filings with the Securities and Exchange Commission, among others, its reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. and Form 10-Q Form 10-Q See 10-Q. . The forward-looking statements included in this news release are only made as of the date of this news release and we undertake 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. |
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