KeyW Awarded $5 Million in Research, Development and Design Work
September 04 2018 - 9:15AM
The KeyW Holding Corporation (NASDAQ:KEYW) today announced
short-term research, development and design-related contracts
totaling approximately $5 million, the vast majority of which will
be completed in 2018, and are expected to serve as precursors to
follow-on programs that will deliver in 2019 and beyond.
“These recent awards highlight KeyW’s ability to develop
affordable and timely sensing solutions that address enduring
mission requirements,” said Kirk Herdman, executive vice president,
Corporate Strategy and Business Development. The awards will
be booked to backlog in the third quarter of 2018. “This project is
indicative of a key area of KeyW’s strategic focus—building and
deploying sensor packages into any domain: orbit, air, land or sea.
A significant aspect of KeyW’s future is about developing payloads
for next-generation platforms. As our customers seek flexibility in
delivering these solutions, KeyW stands at the forefront in
developing innovative capabilities for the national security
mission,” said Bill Weber, president and chief executive officer.
“This sensor solution award is one of several that KeyW is
competing for, and we expect additional comparable awards in the
third quarter of 2018 and through the balance of the year.”
About KeyWKeyW is a pure-play national security
solutions provider for the Intelligence, Cyber and Counterterrorism
Communities' toughest challenges. We support the collection,
processing, analysis and dissemination of information across the
full spectrum of their missions. We employ and challenge nearly
2,000 of the most talented professionals in the industry with
solving such complex problems as preventing cyber threats,
transforming data into intelligence and combating global terrorism.
For more information, please visit www.KeyWCorp.com or follow KeyW
on Twitter @KeyWCorp.
Statements made in this press release that are not
historical facts constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such statements include, but are not limited to, statements
containing the words “estimates,” “believes,” “anticipates,”
“plans,” “expects,” ‘will,” “potential,” “opportunities,” and
similar expressions. Our actual results, performance or
achievements or industry results may differ materially from those
expressed or implied in these forward-looking statements,
including, but not limited to, express or implied statements
concerning: our expectations regarding our future financial
performance, including the potential impact of successful contract
awards; our bid and proposal pipeline; our ability to achieve
projected growth in certain of our business units and the expected
timing of such growth; demand for our products, services and
solutions serving the intelligence, cyber and counterterrorism
communities; and performance of key contracts, including the timing
of production related to certain of our contracts and product
offerings. Factors that may cause our results to differ,
potentially materially, from those expressed or implied in our
forward-looking statements include, but are not limited to: risks
to our business and financial results related to reductions and
other spending constraints imposed on the U.S. Government,
including as a result the Federal budget deficit and Federal
government shut-downs; risks of adverse regulatory action or
litigation; risks that changes, cutbacks or delays in spending by
Intelligence Community (IC) customers, including the National
Security Agency (NSA), the National Geospatial-Intelligence Agency
(NGA), and other agencies within the IC, the Federal Bureau of
Investigation, and the Department of Defense (DoD) may occur, which
could cause delays or cancellations of key government contracts;
risks of delays to or the cancellation of our projects as a result
of protest actions submitted by our competitors; risks that changes
may occur in Federal government (or other applicable) procurement
laws, regulations, policies and budgets; risks related to changes
in government and customer priorities and requirements (including
cost-cutting initiatives, the potential deferral of awards,
terminations or reduction of expenditures to respond to the
priorities of Congress and the Administration; and those risk
factors set forth in our Annual Report on Form 10-K, dated and
filed March 16, 2018 with the Securities and Exchange Commission
(SEC), and other filings that we make with the SEC from time to
time. Due to such uncertainties and risks, investors are cautioned
not to place undue reliance on such forward-looking statements. We
are under no obligation to (and expressly disclaims any such
obligation to) update or alter our forward-looking statements
whether as a result of new information, future events or
otherwise.
Contact: Mark Zindler Vice President, Investor
Relations and Treasury 703.880.9379investors@keywcorp.com
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