Engility Awarded $13 Million Contract to Support the U.S. Department of Treasury’s Secure Payment System
Win Reflects Engility’s High Performance Computing Capabilities
CHANTILLY, Va.--(BUSINESS WIRE)--Engility Holdings, Inc. (NYSE:EGL) today announced that its wholly owned subsidiary, Dynamics Research Corporation (DRC), has been awarded a $13.4 million contract to support the Secure Payment System (SPS) of the U.S. Department of Treasury. SPS provides secure transmission of payment data and strongly auditable certification of payments for the U.S. Government. Engility acquired DRC earlier this year.
“This win reflects the outstanding performance that our people have provided for over a decade and we are honored by the confidence the U.S. Department of Treasury has placed in our company in continuing this critical mission”
Engility, through a system they developed for the Bureau of the Fiscal Service’s Payment Management, will support the processing of more than one billion transactions with an estimated annual value of $2.5 trillion. This system operates within a secure architecture that protects critically sensitive payment information. Engility also provides 24x7 support to more than 2,400 users in over 200 Federal Government organizations worldwide. Engility has supported the Payment Management mission for over 10 years through its high performance computing capability.
“This win reflects the outstanding performance that our people have provided for over a decade and we are honored by the confidence the U.S. Department of Treasury has placed in our company in continuing this critical mission,” said Engility President and CEO Tony Smeraglinolo.
This recompete contract was awarded by Treasury’s Bureau of the Fiscal Service and continues through 2018. It is a firm-fixed price task order against the GSA Schedule.
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, Virginia, Engility is a leading provider of specialized technical consulting, program and business support services, engineering and technology lifecycle support, information technology modernization and sustainment, supply chain services and logistics management, and training and education for the U.S. Government. To learn more about Engility, please visit www.engilitycorp.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Engility’s future prospects, projected financial results, estimated integration costs and acquisition related amortization expenses, and business plans. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are also used to identify these forward-looking statements. These statements are based on the current beliefs and expectations of Engility’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause Engility’s actual results to differ materially from those described in the forward-looking statements can be found under the heading “Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2013, and more recent periodic reports, which have been filed with the Securities and Exchange Commission (SEC) and are available on the investor relations section of Engility’s website (http://www.engilitycorp.com) and on the SEC’s website (www.sec.gov). Forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, historical information should not be considered as an indicator of future performance.