HALIFAX ANNOUNCES NEW CONTRACTS VALUED AT $5.1
MILLION
ALEXANDRIA, VA – September 10, 2002 – Halifax
Corporation (AMEX:HX) today announced that it has recently been
awarded enterprise
maintenance services contracts totaling $5.1M. The services will
be provided for several regional and nationwide customers over
periods ranging from four months to five years.
According to Charles
McNew, president and chief executive officer, “Our
enterprise maintenance revenues continue to grow at a healthy pace.
The Halifax service delivery model is working well and has helped
position the Company for additional future expansion.”
Halifax
has aggressively sought to position itself as the “outsourcer’s
outsourcer,” working to establish relationships with leading
integrators and to offer its IT and enterprise maintenance services
on an outsourced basis to a wider base of customers. Several of
the new contracts resulted from relationships with large integrators,
and the Company is actively pursuing additional relationships with
global service providers serving both public and private sector
clients.
Added McNew, “We are extremely pleased to be adding
and renewing contracts in such a challenging economic environment.”
The
Company recently reported its fifth consecutive quarter of sequential
earnings growth on an expanding revenue base, contract
backlog of
more than $70 million, and a strengthening balance sheet.
Founded
in 1967, Halifax Corporation is a managed services company providing
a wide range of information technology services to commercial
and government customers throughout the United States. The Company’s
principal products are Enterprise Maintenance Solutions, Seat Management/IT
Solutions, and Federal Communications Services.
For investor relations information, contact Qorvis Communications:
Karen Vahouny (703) 744-7809 or kvahouny@qorvis.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, 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.
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