ATLANTA, Oct. 10, 2023 — DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading provider of digital transformation, science research and development, and systems engineering and integration, today announced that David Affeldt has been appointed to a strategic advisory role for the Company. In this position, Mr. Affeldt will provide insight to executive management and the Board of Directors on a broad range of information technology solutions, including client services, organic growth, and corporate development.
Mr. Affeldt is the former President and CEO of Grove Resource Solutions, Inc. (“GRSi”), which was acquired by DLH in December 2022. He has driven mission results for government and commercial organizations through applied science and technology over the course of his 30-plus year career. David has served in various CEO and CTO capacities for private and publicly traded technology companies, with portfolios valued as high as $1.1B. Prior to his private sector career, he served in Technology Architect and Director roles in the Intelligence Community, as well as CIO and Technologist roles within the National Institutes of Health.
“We are delighted to engage Dave as a strategic advisor to DLH, as we continue to expand our technology footprint through innovative application of proven capabilities. We believe Dave’s deep understanding of technology applicable to government health missions coupled with his entrepreneurial drive will substantially impact DLH at the enterprise level,” stated Zach Parker, DLH President and CEO.
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, operating income, earnings and cash flow. 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 risk that we will not realize the anticipated benefits of our acquisition of GRSi or any other acquisitions (including anticipated future financial performance and results); the diversion of management’s attention from normal daily operations of the business and the challenges of managing larger and more widespread operations resulting from our recent acquisition; the inability to retain employees and customers; contract awards in connection with re-competes for present business and/or competition for new business; our ability to manage our increased debt obligations; compliance with 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 or 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