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Technology Stocks : WFII (nasdaq) large insider buys starting

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From: bob zagorin4/24/2006 11:55:51 AM
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WFI Receives an Increase of $7 Million in Base Period Ceiling for the Space and Naval Warfare Systems Center San Diego Contract Supporting the Joint Interagency Task Force South
Monday April 24, 8:00 am ET

SAN DIEGO, April 24 /PRNewswire-FirstCall/ -- WFI (Nasdaq: WFII - News), a global leader in the design, deployment, and management of wireless communication networks, information technology solutions, and security systems, announced today that it has received an increase in base period ceiling of $7 million for the Space and Naval Warfare Systems Center (SPAWARSYSCEN) San Diego contract supporting the Joint Interagency Task Force (JIATF) South.

Under the contract, WFI will continue to provide operations and maintenance support, engineering and technical services, computer programming, software support activity services, materials management, and logistics support services for the SPAWARSYSCEN San Diego, the U.S. Southern Command (SOUTHCOM), and the JIATF South C4ISR systems and subsystems in all areas including South American countries, shore sites, land based facilities, shipyards, and on-board ships in port and at sea.

The contract was originally awarded to WFI in June of 2003, and has a five year base period and eight 6-month award terms which, if all are exercised, can extend the life of the contract to 2012. The increase in ceiling of $7 million applies to the final two and one half years of the contract's base period and brings the new total value to approximately $35 Million over the life of the contract.

"We are pleased to continue working closely with SPAWARSYSCEN San Diego SOUTHCOM, and JIATF South to ensure the best technical capabilities are deployed," said Eric Demarco, president and CEO of WFI. "The increased base period ceiling demonstrate WFI's ability to provide an extensive range of engineering and technical support services and resources to the expanding and transforming Naval mission in the Southern Hemisphere."

"Building on this strategic partnership with the SPAWARSYSCEN San Diego, SOUTHCOM, and JIATF South gives us the opportunity to continue to provide critical knowledge and expertise to our Government customers," said Robin Mickle, President of WFI Government Services, Inc. "Our work with these commands represents our significant commitment to the growth and support of DoD C4ISR programs."

WFI Government Services, Inc. is a wholly-owned subsidiary of the Company, with offices and project locations throughout the United States. Areas of expertise include technical resources consulting, logistics and RFID solutions, homeland security and public safety applications, and communications technology services.

About WFI

Headquartered in San Diego, CA, WFI is an independent provider of systems engineering, network services, and technical outsourcing for the world's largest wireless carriers, enterprise customers, and for government agencies. The company provides the design, deployment, integration, and the overall management of wired and wireless networks which deliver voice and data communication, and which support advanced security systems. WFI has performed work in over 100 countries since its founding in 1994. News and information are available at www.wfinet.com. (code: WFI-mb)
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