ManTech Reports Fourth Quarter and Full Year 2008 Financial Results

ManTech International Corporation (Nasdaq:MANT), today announced results for the fourth quarter and for the full year ended December 31, 2008, that reflect strong growth in revenues and profitability across our business.

Fourth Quarter 2008 Results

For the fourth quarter of 2008, ManTech reported revenue of $494.7 million, up $72.9 million, or 17%, compared to $421.8 million for the same period in 2007. The results reflect an organic growth rate of 12% based on pro forma revenue for the fourth quarter 2007, which includes the effect of the Emerging Technologies Group (August 2008) and EWA Services (November 2008) acquisitions. Fourth quarter revenue growth was primarily driven by the Company's support to the nation's defense initiative both domestically and abroad and the increased level of material acquisitions to support mission-critical programs, such as Countermine and JERRV.

Operating income in the fourth quarter was $41.4 million (8.4% of revenue) up 14% from $36.4 million for the same period in 2007. Net income in the fourth quarter was $24.6 million, up 15%, compared to $21.4 million in the same period in 2007. Diluted earnings per share was $0.69 for the fourth quarter, up 13%, compared to $0.61 for the same period last year.

Full Year 2008 Results

Revenues for the full year 2008 were $1.871 billion, up $423 million, or 29%, over 2007 revenues of $1.448 billion. Revenue growth in 2008 was attributable to new business supporting national security programs for the Department of Defense, Intelligence Community, and Homeland Security related agencies. The results reflect a full year organic growth rate of 18% based on year-over-year pro forma revenue.

Operating income for the full year was $153.4 million (8.2% of revenue), up 35% compared to $113.7 million (7.9% of revenue) in 2007. Net income for the full year was $90.3 million, up 34%, compared to $67.2 million in 2007. Diluted earnings per share was $2.55 for the full year, up 31%, compared to $1.95 for 2007.

"2008 marked our 40^th anniversary and was another outstanding year for ManTech where we delivered strong and consistent operating results,” said George J. Pedersen, Chairman of the Board and Chief Executive Officer, ManTech International Corporation. "ManTech is well positioned to continue strong revenue and earnings growth by executing on the opportunities in the defense, intelligence and homeland security communities we serve.”

Contract Awards & Backlog Metrics

ManTech had contract awards of $180 million for the fourth quarter 2008 and $2.97 billion for the full year 2008, with 35% or approximately $1.03 billion coming from new business awards or expansion of existing contracts. ManTech's reported backlog as of December 31, 2008 was $3.97 billion, up 23% from 2007 and funded backlog was $1.18 billion, up 55% from 2007.

In January 2009, ManTech was awarded a $355 million two-year contract for SOCOM RG 31 and RG 33 support in Iraq and Afghanistan. The award represents an expansion of existing work for ManTech and a new set of systems to support within our global logistics and supply chain management portfolio.

"We are very pleased with our 2008 results and believe the large value of new and expanding business opportunities will allow ManTech to meet our 2009 growth and profit goals,” said Robert A. Coleman, President and Chief Operating Officer, ManTech International Corporation.

Cash Flow and Balance Sheet Information

Days Sales Outstanding of accounts receivable, or DSOs, were 74 days as of December 31, 2008. For the year cash flow from operations was over $127 million and net debt at the end of December was approximately $40 million, down $117 million from December 31, 2007 including the funding of the ETG and EWA acquisitions, which totaled $37 million in consideration.

EWA Services Acquisition Completed

The Company closed the EWA Services acquisition on November 28, 2008. EWA Services is a leading provider of information technology, threat analysis and test and evaluation for several Department of Defense agencies. Headquartered in Herndon, VA and founded in 1991, EWA Services is privately held and its largest customer is the Joint Interoperability Test Command, a field activity of the Defense Information Systems Agency. Approximately 100% of EWA Services' 167 employees have security clearances.

Company Guidance

The Company's first quarter 2009 and full year 2009 guidance is summarized in the table below. ManTech's guidance does not include any future acquisitions or divestitures.

Key Guidance Assumptions

• Countermine/JERRV revenues of $105 million in the first quarter and at least $450 million for full year 2009
• Net interest expense of $275,000 in the first quarter and $200,000 for the full year (including interest income anticipated in the third and fourth quarters of 2009)
• Tax rate of 39.4% for the first quarter and for full year 2009

The Company's revenue guidance for the first quarter and full year 2009 reflects the continuation of strong business momentum in its core national security and defense business. ManTech's first quarter 2009 revenue guidance represents total revenue growth of 14% to 19% and pro forma organic revenue growth of 12% to 16%. ManTech's 2009 full year revenue guidance represents total revenue growth of 12% to 18% and pro forma organic revenue growth of 10% to 16% without any future acquisitions. The organic growth rate is derived by adding 2008 revenue for both ETG and EWA to ManTech's 2008 annual revenue. The Company's first quarter 2009 earnings per share range represents 20% to 25% growth over first quarter 2008 and for the full year 2009 represents 14% to 20% growth over 2008.

Conference Call

ManTech executive management will hold a conference call today at 5 p.m. EST, to discuss fourth quarter and full year 2008 results and answer questions. Interested parties may access the call by dialing (888) 211-4432 (domestic) or (913) 312-0673 (international). The conference call will be Webcast (listen only) simultaneously via the Internet at www.mantech.com. Interested parties should dial in or log on approximately ten minutes prior to the start of the call.

A replay of the call will be available beginning at 8 p.m. today and will remain available through midnight, March 11, 2009. To access the replay, call (888) 203-1112 (domestic) or (719) 457-0820 (international). The confirmation code for the replay is 8146922. A replay will also be available on ManTech's Website approximately two hours after the conclusion of the call.

About ManTech International Corporation:

Headquartered in Fairfax, Virginia with approximately 8,000 professionals, ManTech International Corporation is a leading provider of innovative technologies and solutions for mission-critical national security programs for the Intelligence Community; the departments of Defense, State, Homeland Security and Justice; the Space Community and other U.S. federal government customers. ManTech's expertise includes systems engineering, systems integration, software development services, enterprise architecture, cyber security, information assurance, intelligence operations and analysis support, network and critical infrastructure protection, information operations and information warfare support, information technology, communications integration, global logistics and supply chain management, and service oriented architectures. The company supports the advanced telecommunications systems that are used in Operation Iraqi Freedom and in other parts of the world; has developed a secure, collaborative communications system for the U.S. Department of Homeland Security; and builds and maintains secure databases that track terrorists. The company operates in the United States and 40 countries. In 2008, BusinessWeek magazine chose ManTech for its ‘InfoTech 100’ listing representing the best performing tech companies in the world; Forbes.com named ManTech as one of the 400 Best Big Companies in the nation; and A-Space, a Web 2.0 enhanced collaboration tool that ManTech developed for the Intelligence Community was named one of the Top 50 Inventions of the Year by Time magazine. Also in 2008, GI Jobs magazine named ManTech a Top Ten Military Friendly Employer for the third year in a row. 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. Words such as "may,” "will,” "intends,” "should,” "expects,” "plans,” "projects,” "anticipates,” "believes,” "estimates,” "predicts,” "potential,” "continue,” or "opportunity,” or the negative of these terms or words of similar import are intended to identify forward-looking statements.

These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: adverse changes in U.S. government spending priorities; failure to retain existing U.S. government contracts, win new contracts, or win recompetes; adverse results of U.S. government audits of our government contracts; risks associated with complex U.S. government procurement laws and regulations; adverse effect of contract consolidation; risk of contract performance or termination; failure to obtain option awards, task orders or funding under contracts; adverse changes in our mix of contract types; failure to successfully integrate recently acquired companies or businesses into our operations or to realize any accretive or synergistic effects from such acquisitions; failure to identify, execute or effectively integrate future acquisitions; 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 March 17, 2008, and, from time to time, in ManTech's other filings with the Securities and Exchange Commission, including among others, its reports on Form 10-Q.

The forward-looking statements included in this news release are only made as of the date of this news 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.