With 700% growth in 10 years, company takes on new challenges in the healthcare IT and commercial cyber markets.
FAIRFAX, Va.--(BUSINESS WIRE)-- ManTech (NASDAQ:MANT) Chairman and CEO George J. Pedersen and Bob McCooey, Senior Vice President, NASDAQ OMX Corporate Client Group, cited ManTech's impressive growth and financial performance at NASDAQ's closing bell ceremony yesterday. Mr. Pedersen rang yesterday's closing bell in celebration of the tenth anniversary of the company's listing on the exchange.
ManTech listed on NASDAQ on February 6, 2002. Its 2001 revenue was $430 million. In the ten years since listing, ManTech's revenue has grown to nearly $3 billion, shareholder equity has grown from $23 million to $1.1 billion, and it has made 20 strategic acquisitions. It is one of the few public companies in its sector to pay a shareholder dividend.
Mr. McCooey said, "It's very clear that the company is poised for tremendous growth now and for years to come," and praised ManTech's recent acquisitions of Evolvent Technologies and HBGary as allowing ManTech to "position itself into the healthcare IT and commercial cyber security markets," which he said, "allows them to expand their addressable markets and continue to deliver strong organic growth."
Mr. Pedersen cited the wisdom of going public ten years ago, saying that ManTech's listing on NASDAQ gave it "the financial resources needed to grow in a very competitive and demanding market. Our shareholder support has enabled ManTech to support our customers' mission, particularly the people who defend our nation—in intelligence, defense, space, homeland security, law enforcement, and on the front lines," he said, "with more than 1,000 active contracts today and maintain operations in many countries around the world."
Mr. Pedersen also discussed ManTech's emergence as one of the leaders in the cyber security market and its plans to "build our business in healthcare IT" and "take our cyber expertise to the private sector."
About ManTech International Corporation:
ManTech is a leading provider of innovative technologies and solutions for mission-critical national security programs for the intelligence community; the departments of Defense, State, Homeland Security, Energy and Justice, including the Federal Bureau of Investigation; the space community; the National Oceanic and Atmospheric Administration; and other U.S. federal government customers. We provide support to critical national security programs for approximately 60 federal agencies through 1,000 current contracts. ManTech's expertise includes command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) lifecycle support, cyber security, global logistics support, intelligence/counter-intelligence support, information technology modernization and sustainment, systems engineering, and test and evaluation. ManTech supports major national missions, such as military readiness, terrorist threat detection, information security and border protection. Additional information on ManTech can be found at www.mantech.com.
ManTech International Corporation
Lauren Kushin, 703-218-8291
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