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Technology Stocks : WFII (nasdaq) large insider buys starting

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From: bob zagorin8/7/2007 3:00:19 AM
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WFI Team to Support AMCOM'S Security Assistance Management Directorate

SAN DIEGO, Aug. 6, 2007 (PRIME NEWSWIRE) -- WFI (NasdaqGS:WFII - News), a leader in information technology solutions, command and control systems, weapon systems operations and maintenance and enterprise security solutions, announced today that its Government Division was awarded a task order through ARINC Engineering Services, LLC for the Security Assistance Management Directorate (SAMD) of the U.S. Army Aviation and Missile Command (AMCOM) located at Redstone Arsenal, AL. ARINC, based in Annapolis, Maryland, is a premier supplier of engineering support services and products to the Department of Defense community. The 46 month follow-on task order has an approximate value to WFI of $46 million if all engineering assignments are funded.

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``This is an important award for WFI in its roadmap to provide continued support to the DoD community, and it highlights the expanding scale of our federal contract task orders as a percentage of our total business. I am very pleased with the progress we have made with our strategy to build a large federal government and security solutions focused business intent on becoming a significant DoD service provider,'' said Eric DeMarco, president and CEO of WFI. ``We are delighted to continue our support of SAMD and to be on this team with ARINC where we can continue to provide our core capabilities across a broad range of weapon systems lifecycle support.''

In support of the task order announced today, WFI will continue to provide lifecycle sustainment support to the U.S. Army AMCOM SAMD Missile Systems Division for various legacy weapon systems, which are fielded in over 23 Foreign Military Sales (FMS) customer locations. Many of these weapons systems are no longer fielded within the U.S. active or reserve component forces, and require continual obsolescence analysis, technology insertion, modernization initiatives, and supportability efforts to remain an effective, viable weapon system for our allies. WFI will continue to provide the critical engineering, integrated logistics support (ILS), and manufacturing capability to support these FMS customers in support of SAMD. Many of WFI's support efforts will require the transition of new technology, electronic circuitry and systems, materials, and components from the DoD and commercial sectors to solve obsolescence problems.

WFI Government Services, Inc. is a wholly-owned subsidiary of WFI, with offices and project locations throughout the United States. Areas of expertise include engineering design, systems engineering, weapons systems support and maintenance, integrated logistics, test and evaluation, public safety and communications technology services. Significant customers for WFI Government Services include various military branches of the U.S. Department of Defense, the Department of Homeland Security, NASA, and state and local government agencies.

About WFI

Headquartered in San Diego, CA, WFI is a leading provider of professional services in the areas of defense, technology, and security solutions. WFI specializes in IT services, command, control, communications, computers and Intelligence (C4I), weapon systems operations and maintenance, and security and surveillance solutions. WFI performs work for a range of federal government agencies, including the U.S. Department of Defense, various state and local agencies, and Fortune 1000 enterprise companies. News and information are available at wfinet.com. (code: WFI-mb)

About ARINC Engineering Services, LLC

ARINC Engineering Services, LLC is the wholly-owned defense contracting unit of ARINC Incorporated. ARINC Incorporated is the world leader in transportation communications and systems engineering. The company develops and operates communications and information processing systems and provides systems engineering and integration solutions to five key industries: airports, aviation, defense, government, and surface transportation. Founded to provide reliable and efficient radio communications for the airlines, ARINC is headquartered in Annapolis, Maryland, and operates key regional offices in London and Singapore, with over 3,200 employees worldwide. ARINC is ISO 9001:2000 certified. For more information, visit the ARINC web site at arinc.com.
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