FOR IMMEDIATE RELEASE: August 18, 2010
Media Contact: Lauren Peduzzi
Investor Relations Contact: Joseph Cormier
GTEC Secures $6 Million Contract to Support NRL Plasma Research Initiatives
MCLEAN, Va., August 18, 2010 – Global Defense Technology & Systems, Inc. (NASDAQ: GTEC), a provider of mission-critical technology-based systems, solutions and services for national security agencies and programs of the U.S. government, today announced that the company has secured a contract to continue their support of the research initiatives of the Naval Research Laboratory’s (NRL) Charged Particle Physics Branch within the Plasma Division. The contract has one base year and four options and a total value of $6,141,655.
Under the contract, GTEC's highly qualified team of research physicists, engineers, technicians and laboratory assistants will support the NRL Plasma Physics Division in conducting basic and applied experimental, theoretical and computational research to advance fundamental knowledge in high temperature plasmas.
John Hillen, President & CEO of GTEC commented, "We are pleased to continue our long history supporting the NRL. These research, testing and evaluation efforts are a critical component in ensuring that we provide scientific and technological advantages to the warfighter of today and tomorrow."
Research efforts will include high energy pulsed power systems and charged particle beams; space plasma physics and observational diagnostics of the near-earth space environment; new methods for plasma processing; high power RF sources, beam handling systems and pulsed plasma discharges; and high-velocity electromagnetic launchers. Other tasks performed as part of the contract include planning and performing research, providing engineering and technical support for research in progress, assisting in data acquisition and analysis, and the design, acquisition and assembly of hardware associated with the research.
About Global Defense Technology & Systems, Inc.
Global Defense Technology & Systems, Inc. (GTEC) provides mission-critical technology-based systems, solutions, and services for national security agencies and programs of the U.S. government. Our services and solutions are integral parts of mission-critical programs run by the Department of Defense, Intelligence Community, Department of Homeland Security, federal law enforcement agencies, and other parts of the federal government charged with national security responsibilities. Learn more about Global Defense Technology & Systems at www.gtec-inc.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this announcement other than historical data and information constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements or industry results to differ materially from the results, performance or achievements expressed or implied by such forward-looking statements, including, but limited to the following: the uncertainty of the timing of regulatory review of the transaction, financing risks, such as increases in interest rates and restrictions imposed by our credit agreement, risks concerning the future financial performance of the acquired company, failure to successfully integrate the acquired company into our operations or to realize any benefit from the acquisition, and our dependence on contracts with federal government agencies for substantially all of our revenue. These and other risk factors are discussed in Global Defense Technology & System Inc.ís (GTEC) Annual Report on Form 10-K, and such other filings that GTEC makes with the Securities and Exchange Commission from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements speak only as of the date hereof and GTEC undertakes no obligation to update such forward-looking statements in the future except as required by law.