03.03.2005 13:32:00
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ManTech Collects Final Negotiated Payments for Background Investigatio
Business Editors/Government Writers
FAIRFAX, Va.--(BUSINESS WIRE)--March 3, 2005--ManTech International Corporation (Nasdaq: MANT), a leading provider of innovative technologies and solutions focused on mission-critical national security programs for the Department of Defense, the Intelligence Community, the Department of State, the Department of Justice, the Department of Homeland Security and other U.S. federal government customers, announced today that it has collected the final negotiated payments under its background investigations contract with the Defense Security Service (DSS). Last week, as part of its 2004 full-year and fourth quarter earnings announcement, ManTech announced that it had collected $12.7 million, of the $16.4 million of receivables submitted as a result of the final settlement negotiations with DSS. As indicated in the conference call, the balance of $3.7 million was expected to be, and was collected this week. The company also announced last week that it is placing its MSM personnel security investigations business unit into discontinued operations and will offer it for sale.
About ManTech International Corporation:
Headquartered in Fairfax, Virginia, ManTech International Corporation is a leading provider of innovative technologies and solutions for mission-critical national security programs for the Department of Defense, the Intelligence Community, the Department of State, the Department of Justice, the Department of Homeland Security and other U.S. federal government customers. ManTech's expertise includes technology and software development, enterprise security architecture, information assurance, intelligence operations support, network and critical infrastructure protection, information technology, communications integration and engineering support. The company supports the advanced telecommunications systems that are used in Operation Iraqi Freedom and in other parts of the world; provides the physical and cyber security to protect U.S. embassies all over the world; has developed a secure, collaborative communications system for the U.S. Department of Homeland Security; and is helping the Department of Justice's U.S. Marshal Service deploy a common, office automation system. With annual revenues of $842 million for 2004 and more than 5,500 highly qualified employees and several thousand consultants, the company operates in the United States and 39 countries worldwide. In 2004, ManTech was selected by Business Week magazine as one of the Top 100 Hot Growth Companies and ranked by VARBusiness magazine as one of its Top 50 Fastest-Growing Solution Providers. 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, could be interpreted to be "forward-looking" statements that ManTech believes to be within the definition in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. For a discussion of such risks and uncertainties, please refer to the section titled "Risks Related to The Company's Business" in ManTech's annual report on Form 10-K filed with the Securities and Exchange Commission on March 15, 2004, and, from time to time, in ManTech's other filings with the Securities and Exchange Commission, including, among others, its reports on Form 8-K and Form 10-Q. The forward-looking statements included in this press release are only made as of the date of this press release, and the Company undertakes no obligation to update any of the forward- looking statements made herein, whether as a result of new information, future events, changes in expectations or otherwise.
--30--NB/ny*
CONTACT: ManTech Corporate Communications Mark Root, 703-218-8397 cell: 703-407-9393 mark.root@mantech.com or Investor Relations: Maureen Crystal, 703-218-8262 maureen.crystal@mantech.com
KEYWORD: VIRGINIA INDUSTRY KEYWORD: LEGAL/LAW AEROSPACE/DEFENSE GOVERNMENT PRODUCT SOURCE: ManTech International Corporation
Copyright Business Wire 2005
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