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Technology Stocks : WFII (nasdaq) large insider buys starting -- Ignore unavailable to you. Want to Upgrade?

To: bob zagorin who wrote (12)	4/6/2006 2:40:49 PM
From: bob zagorin	Respond to of 39

from SD Trib WFI (Nasdaq: WFII, News) announced Thursday that it has been selected as a subcontractor to a defense contractor for a large U.S. Navy shipboard combat systems in-service engineering contract. ADVERTISEMENT WFI shares gained 17 cents to $3.93 in early trading. The firm's shares have languished in recent months, dropping from a Nov. 3 high of $7.25 to as low as $3.22 on Mar. 22. While message board discussions have welcomed the news of the contract win, some have pointed out that WFI stands only to reap the largest percentage of the subcontract and over the three-year span the contract will have a smaller impact on the firm's bottom line than the company implied in the headline of its release. More interesting to posters was the recent news that Google and Earthlink have been selected to install San Francisco's wireless network. WFI announced in early Oct. that it would be part of that bid. Under provisions of the program, WFI, or Wireless Facilities, will assist the Navy by providing engineering and technical services, computer programming, materials management, and logistics support services for the AEGIS Combat System and other related systems. The project has an estimated total value of approximately $30 million over a three-year period, and WFI has been selected as the project's largest subcontractor, the company said. WFI said it will perform work under a subcontract in support of the Naval Surface Warfare Center at areas including shore sites, land based test facilities, shipyards, and aboard ships in ports and at sea for the U.S. Navy, allied nations and foreign military sales customers. Technical services performed under the contract include review of system design documentation, system performance specifications, computer program changes, reliability, maintainability, availability, configuration management, test & evaluation, and advanced planning requirements of AEGIS new construction ships, operational baselines, and equipment. "This is a multi-million dollar opportunity for the Company and a significant win for WFI's Government Services Division," said Eric DeMarco, President and CEO of WFI. DeMarco said that WFI's current bid pipeline of government proposals is over $600 million. The company plans to add proposals to its pipeline to WFI's commitment to diversifying its portfolio into long-term government contracts and highlights the company's growing reputation as a technical services leader in the government arena.