HALIFAX ANNOUNCES VDOT CONTRACT EXTENSION
Three-Year Contract Valued at Over $20 Million
ALEXANDRIA, VA -
October 22, 2002 - Halifax Corporation (AMEX:HX) today announced
that the
Company’s contract for Seat Management
Services with the Virginia Department of Transportation (VDOT) has
been extended for three years. The contract, which is valued at over
$20 million, also provides for an optional three-year renewal at
the conclusion of the current contract term.
Halifax has provided
VDOT with an efficient and cost-effective seat management solution
on an agency-wide basis for over 7,700 desktops
and servers since 1998.
According to Charles McNew, president and
CEO, “Halifax has
worked closely with VDOT management to develop a well-constructed,
long-term solution for its seat management needs, which significantly
lowers the total cost of infrastructure ownership. We are pleased
to extend this valued long-term partnership, and we look forward
to continuing to provide our customer with the high level of service
and cost-effective delivery standards that have become a cornerstone
of the Halifax model.”
The Company has reported five consecutive
quarters of sequential earnings growth on an expanding revenue base,
contract backlog of
more than $65 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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