HANOVER, Md., Sept. 04, 2018 (GLOBE NEWSWIRE) — 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.”
Forward-Looking Statements: 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.
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