ADVERTISEMENT
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Parsons Awarded $26 Million Task Order to Enhance USAF All-Domain Operations

July 22, 2021 GMT

CENTREVILLE, Va., July 22, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has won a task order award worth $26 million on the Global Application Research, Development, Engineering, and Maintenance (GARDEM) indefinite delivery/indefinite quantity (IDIQ) contract from the Air Force Research Laboratory (AFRL).

The task order contract has a one-year base period with three option years and will support functional and technical requirements on the GARDEM software baselines for U.S. Air Force and other Department of Defense and Intelligence Community customers. This award is the fifth competitive bid the company has won on the GARDEM contract since 2019, totaling $144 million, making Parsons the number one awardee on this IDIQ vehicle. The company has provided support to critical AFRL missions for more than 20 years.

“We are pleased to expand our partnership with AFRL to enable our U.S. Federal agencies to quickly access warfighting data across all-domain battlespaces,” said Mike Dewitz, executive vice president and general manager of Parsons’ missile defense and C5ISR business unit. “This award builds on Parsons’ history of delivering smart, mission-ready software solutions, enabling tactical advantage for our warfighters in any mission space.”    

ADVERTISEMENT

Parsons will perform functional onsite, training, demonstrations, enhancements, modifications, integration, testing, deployments and maintenance of technologies. The company excels in agile, flexible solutions and will deliver enhancements incrementally with modular components that will help to integrate systems.

GARDEM is a $427 million contract ceiling vehicle with a mission to create and implement updated software baselines, allowing federal customers across all domains to assess critical information from multiple data sources.

To learn more about Parsons’ leading defense capabilities, please visit: https://www.parsons.com/markets/defense/

About Parsons Corporation

Parsons (NYSE: PSN) is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.

Forward-Looking Statements

ADVERTISEMENT

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.

Media Contact:
Crystalyn Koch
+ 1 719.648.8420
Crystalyn.Koch@brxtn.com

Investor Relations Contact:
Dave Spille
+ 1 571.655.8264
Dave.Spille@parsons.com