ATS Corporation Announces New Contract Awards Totaling $4.9 Million and Legal Settlement
MCLEAN, VA – (PRNEWSWIRE) – September 8, 2010, ATS Corporation (“ATSC” or the “Company”) (NYSE Amex: ATSC), a leading information technology company that delivers innovative technology solutions to Government and commercial customers, today announced it has been awarded several contracts totaling $4.9 million over a one-year period, supporting the U.S. Air Force, the Defense Technology Security Administration, and other State government and commercial accounts.
“ATSC is proud of our proven 30-year track record of providing mission critical systems development services to the Department of Defense,” said ATSC Executive Vice President and Chief Operating Officer, Sidney E. Fuchs. “We are also pleased to be awarded new business contracts to support our State government and commercial clients, where ATSC will provide technology evaluation and program management support services.”
The Company also announced today that it has signed a settlement with the former principal owners of Advanced Technology Systems, Inc. related to a previously disclosed indemnification claim associated with the Maximus lawsuit. As a result, the Company received a settlement payment of $1.25 million. This concludes all of the Company’s outstanding legal proceedings.
About ATS Corporation
ATSC is a leading provider of software and systems development, systems integration, infrastructure management and outsourcing, information sharing, training and consulting to the Department of Defense, Federal civilian agencies, public safety and national security customers, as well as commercial enterprises. Headquartered in McLean, Virginia, the Company has more than 600 employees at 10 locations across the country.
Any statements in this press release about future expectations, plans, and prospects for ATSC, including statements about the estimated value of the contract and work to be performed, and other statements containing the words “estimates,” “believes,” “anticipates,” “plans,” “expects,” “will,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our dependence on our contracts with federal government agencies for the majority of our revenue, our dependence on our GSA schedule contracts and our position as a prime contractor on government-wide acquisition contracts to grow our business, and other factors discussed in our latest annual report on Form 10-K filed with the Securities and Exchange Commission on March 24, 2010. In addition, the forward-looking statements included in this press release represent our views as of September 8, 2010. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to September 8, 2010.
Additional information about ATSC may be found at www.atsc.com.
Corporate Communications Manager