When does this hit the books....$40 million dollars over 5 years??
Paradigm Solutions Awarded Five-Year Prime Contract by the FAA
for Nationwide Power Systems Installation and Construction Services
Rockville, Maryland June 22, 2010 Paradigm Holdings, Inc. (OTCBB: PDHO) (mission critical infrastructure solutions for Federal Government enterprises, announced today that it has been awarded an Indefinite-Delivery / Indefinite-Quantity (IDIQ) contract to provide Power Systems Installation and Construction Services in support of the Federal Aviation Administration (FAA). Under this contract, Paradigm expects to provide project management, engineering and installation / construction services for power systems along with power system ancillary equipment and structures at various FAA facilities nationwide. The Company estimates the five-year value of the contract to be in excess of $40 million, based on multiple task orders to be completed over the life of the contract.
Paradigm offers the FAA significant experience supporting similar mission critical infrastructure for National Security related facilities. As one of two large-business prime contractors awarded this contract, Paradigm will manage the team that will replace, enhance and maintain existing power systems for small-to-medium size and large FAA facilities related to General National Air Space (GNAS) and Critical Power Distribution Systems (CPDS).
George Pearsall, Paradigm Vice President for Mission Critical Infrastructure, stated, The FAA IDIQ award further extends Paradigm.
Anthony Verna, Paradigm Senior Vice President, commented, The FAA IDIQ is the second significant mission critical infrastructure contract win for Paradigm in 2010. We are excited to be able to add the FAA to our customer list, and look forward to supporting them over the next five years.
Peter B. LaMontagne, Paradigm President and CEO, concluded, "We are extremely excited by the new business development momentum that we have generated. The FAA IDIQ is our second prime contract win in 2010 and marks the fifth overall new contract win at Paradigm this year. We are beginning to see the results of our strategic focus on cyber security and mission critical infrastructure, along with diligent bid and proposal activity.
For additional information, please visit the Companywww.paradigmsolutions.com.
About Paradigm Holdings, Inc.
Paradigm Holdings, Inc., (www.paradigmsolutions.com) is a provider of information technology (IT) and business solutions for U.S. Federal Government enterprises. Paradigm specializes in comprehensive information assurance solutions involving cyber security and forensics as well as continuity of operations and disaster recovery planning. The Company also provides systems engineering and IT infrastructure support solutions. Headquartered in Rockville, Maryland, the Company currently employs approximately 200 people.
Safe Harbor Statement
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended (the and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbor created by those sections. Paradigm assumes no obligation to update the information contained in this press release. Future results for Paradigm may be affected by its ability to continue to implement its government technology solutions, its dependence on the federal government and state and local governments and other federal government contractors as its major customers, timely passage of components of the federal budget, timely obligations of funding by the federal and state governments, its dependence on procuring, pricing and performing short-term government contracts, its dependence on hiring and retaining qualified professionals, potential fluctuations in its quarterly operating results, including seasonal impacts, its dependence on certain key employees and its ability to timely and effectively integrate the businesses it may acquire. For further information about forward-looking statements and other Paradigm specific risks and uncertainties please refer to recent SEC filings for Paradigm, which are avail
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