Atlanta, Georgia – April 17, 2023 – DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading provider of systems engineering and integration, digital transformation, and science research and development solutions to federal agencies, today announced that its subsidiary Grove Resource Solutions LLC (“GRSi”) has been awarded a contract to continue and expand its support for Enterprise Staging and Delivery (“ES&D”) for the Naval Information Warfare Center (“NIWC”) Atlantic. NIWC Atlantic is a Department of the Navy organization dedicated to delivering secure, integrated, and innovative technical solutions to naval, joint and national agencies across the globe.
The contract includes a base period of one year with four one-year options, with a total value of $14.6 million. The Company will provide end-to-end processing of information systems including cybersecurity hardening, adherence to procurement specifications, IT imaging management, and supply chain management. In addition, DLH will leverage intelligent logistics methods and tools to assist in capacity and throughput planning, operation of the ES&D facility itself, and full-spectrum asset tracking modernization of government systems.
“We are proud to continue our support for NIWC Atlantic and ES&D’s contribution to national security,” said Kelly Baldwin, President of DLH’s National Security Programs business unit. “This contract underscores our commitment to providing state-of-the-art solutions for our clients, ensuring they have the most reliable, secure, and compliant IT hardware and software to support the warfighter.”
“This work leverages DLH’s innovative solutions and technical capabilities in service of our nation’s forces,” said Zach Parker, DLH President & CEO. “We are honored for this opportunity to broaden our partnership with the Navy and remain committed to providing the advanced processes required to ensure it can carry out its vital mission.”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or DLH`s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that the Company or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or DLH’s actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements in this release include, among others, statements regarding estimates of future revenues. These statements reflect our belief and assumptions as to future events that may not prove to be accurate. Our actual results may differ materially from such forward-looking statements made in this release due to a variety of factors, including: the outbreak of the novel coronavirus (“COVID-19”), including the measures to reduce its spread, and its impact on the economy and demand for our services, are uncertain, cannot be predicted, and may precipitate or exacerbate other risks and uncertainties; the risk that we will not realize the anticipated benefits of the GRSi acquisition; (including anticipated future financial operating performance and results); diversion of management’s attention from normal daily operations of the business and the challenges of managing larger and more widespread operations resulting from the acquisition; the inability to retain GRSi employees and customers; contract awards in connection with re-competes for present business and/or competition for new business; the risks and uncertainties associated with client interest in and purchases of new services; compliance with new bank financial and other covenants; changes in client budgetary priorities; government contract procurement (such as bid and award protests, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; the ability to successfully integrate the operations of GRSi and any future acquisitions; the impact of inflation and higher interest rates; and other risks described in our SEC filings. For a discussion of such risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s periodic reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2022, as well as subsequent reports filed thereafter. The forward-looking statements contained herein are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our industry and business.
Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company does not assume any responsibility for updating forward-looking statements, except as may be required by law.
Contact: Chris Witty