Company Also Reports Loss of Pennsylvania Maintenance Contract
ALEXANDRIA, Va., April 7 /PRNewswire-FirstCall/ -- Halifax Corporation
(Amex: HX) today announced that it has been awarded new contracts from its
business partners valued at over $3.0 million on an annual basis and over $6.5
million over the full term of the awards. The enterprise maintenance
contracts include support for over 2,200 locations nationwide for an auto
rental service and several hundred locations for a nationwide finance company.
The Company also announced that it was unsuccessful in renewing its
enterprise maintenance contract, valued at $3.9 million per year, with the
Commonwealth of Pennsylvania. Halifax will continue to provide maintenance
services under this contract through June 30, 2004.
Charles McNew, president and CEO, noted, "We're pleased to add several
large, national enterprise maintenance solutions customers, validating our
growing position as a leader in this niche of the IT market. We remain
bullish about our ongoing growth prospects, and we currently have several
large bids outstanding for nationwide enterprise maintenance support."
He added, "Although we are pleased to continue building our service base
in this difficult market, we are disappointed with the loss of the
Pennsylvania contract. We are proud of the level of high-quality service our
employees have provided to Pennsylvania, and despite this loss we plan to
maintain our national support center in its Pennsylvania location. We have
planned cost-containment actions, which we believe will mitigate any negative
long-term impact from the non-renewal of this contract."
Concluded McNew, "In addition to the success of our enterprise maintenance
business, our secure network services group is continuing to experience strong
demand, particularly within the intelligence community. We also remain
committed to our acquisition strategy, and we continue to review strategic
acquisition candidates."
Founded in 1967, Halifax Corporation is an enterprise maintenance
solutions company providing a wide range of technology services to commercial
and government customers throughout the United States. The Company's
principal products are high availability hardware maintenance services,
technology deployment and integration services, and secure network program
services. More information on Halifax can be found at http://www.hxcorp.com.
Certain statements made by the Company which are not historical facts may
be considered forward-looking statements, including, without limitation,
statements as to trends, management's beliefs, views, expectations and
opinions, which are based upon a number of assumptions concerning future
conditions that ultimately may prove to be inaccurate. Such forward-looking
statements are subject to risks and uncertainties and may be affected by
various factors that may cause actual results to differ materially from those
in the forward-looking statements. For further information that could affect
the Company's financial statements, please refer to the Company's reports
filed with the Securities and Exchange Commission.
SOURCE Halifax Corporation
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Related links:
http://www.hxcorp.com
Company News On-Call:
http://www.prnewswire.com/comp/391950.html
CONTACT:
Karen Vahouny of Qorvis Communications,
+1-703-744-7809, or kvahouny@qorvis.com, for Halifax Corporation
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