Leidos Awarded Combatant Craft Medium Mk1 Subcontract

Technical Solutions Company to Provide Integration, Testing and Logistics

News provided by

Apr 30, 2014, 04:05 ET

RESTON, Va., April 30, 2014 /PRNewswire/ -- Leidos [NYSE: LDOS], a national security, health and engineering solutions company, was awarded a United States Special Operations Command (USSOCOM) competitive acquisition subcontract for Combatant Craft Medium Mk-1 (CCM Mk1). The contract will include production of low observable systems, integration and testing of craft tactical computing systems, full life-cycle integrated logistics support, and incremental development and upgrades. The total potential value of the Leidos CCM Mk 1 subcontract award is approximately $87 million of the total program ceiling of $400 million won by the prime contractor, Oregon Iron Works.

"Leidos's exceptional maritime technology and logistics solutions team provided our CCM Mk-1 offering with an unbeatable performance advantage, which eclipsed all of our competition. This is an exciting win for us and validates our team win strategy of offering our Special Operations Forces affordable, advanced technology solutions to achieve unprecedented operational capability," stated Bob Beal, CEO of Oregon Iron Works.

"Leidos is proud to support the Oregon Iron Works-led team in delivering a superior offering for the Special Operation Forces, drawing in part on our differentiated maritime technologies," said John Fratamico, Leidos group president.

About Leidos
Leidos is a science and technology solutions leader working to address some of the world's toughest challenges in national security, health, and engineering. The Company's 22,000 employees support vital missions for our government and the commercial sector, develop innovative solutions to drive better outcomes, and defend our Nation's digital and physical infrastructure from 'new world' threats. Headquartered in Reston, Va., Leidos had annual revenues of approximately $5.77 billion for its fiscal year ended January 31, 2014, following the spin-off of the company's technical services and information technology business. For more information, visit www.Leidos.com.

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 be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10-K for the period ended January 31, 2014, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.