Engility Wins $50 Million Task Order to Support Veterans Benefits Management System (VBMS) Records Program
Engility Holdings, Inc. (NYSE:EGL) , today announced it has been awarded a $24.9 million base year task order to provide an array of engineering, technical and program management support for the Veterans Affairs Department’s principal benefits management program, the Veterans Benefits Management System (VBMS). The option period when exercised will bring the task order to $50 million total. The award was made under the Business and Force Support (BFS) unrestricted pillar contract, administered by the Space and Naval Warfare Systems Center (SPAWARSYSCEN) Atlantic, Charleston, SC.
“This win is a result of the substantial past performance that our outstanding customer- focused team has provided to VBMS,” said Engility President and CEO Tony Smeraglinolo. “The Engility team of professionals who support this VA program provide deep experience and an exceptional understanding of the requirements to our VA partners. We are very pleased that we will continue to support this important program.”
VBMS is a multi-year project to transition the Veteran Benefits Administration from paper- intensive claims processing to a paperless-based environment. Over the last four years, Engility has successfully developed software to advance the migration of VBMS to an electronic claims processing system. In addition to the capabilities mentioned previously, Engility will provide development and testing, web portal development, support services, and the integration of VBMS with other VA systems. The successful implementation of VBMS has reduced the backlog of claims to be processed in the last year by 52 percent.
The task, which is re-compete work, is a cost plus fixed fee award with a base year and one option year.
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.
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