RESTON, Va., March 9, 2017 /PRNewswire/ -- Leidos (NYSE: LDOS), a global science and technology company, was awarded an indefinite-delivery/indefinite-quantity (IDIQ) contract from the U.S. Air Force to provide research and development for electromagnetic systems. This cost-plus-fixed-fee IDIQ contract has a five-year base period of performance with a total contract value of $38 million that includes an initial cost-plus-fixed-fee task order for $11 million. Work will primarily be performed at Kirtland Air Force Base, N.M. for the Air Force Research Laboratory.
Under this contract, Leidos will research the development of high power electromagnetic (HPEM) technology with the goal of producing and advancing next generation HPEM sources. Milestones include establishing a program and research facility, conducting component research, and working with the government and other researchers toward their HPEM objectives. Leidos will also provide diagnostic and data acquisition, as well as laboratory preparation work.
"We look forward to continuing our efforts for the Air Force by developing critical next generation capabilities such as this HPEM technology," said Mike Chagnon, president of the Leidos Advanced Solutions Group. "As threats become more advanced, Leidos is committed to creating innovative solutions that enable our customers to achieve their missions."
Leidos is a global science and technology solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company's 32,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $7.04 billion for the fiscal year ended December 30, 2016. For more information, visit www.Leidos.com.
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10-K for the period ended December 30, 2016, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
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