Science & Technology
Science and Technology
Science and Technology
Tue, November 16, 2010
Mon, November 15, 2010 
RESTON, Va.--([ BUSINESS WIRE ])--NCI, Inc. (NASDAQ:NCIT), a leading provider of information technology (IT), engineering, logistics, professional services, and solutions to U.S. Federal Government agencies, announced today that Judith L. Bjornaas has resigned her position as Chief Financial Officer effective December 7, 2010. Ms. Bjornaas will be leaving NCI and has accepted a new position with a larger firm within the Government IT Services industry.
aOn behalf of NCIa™s Board of Directors and employees, I would like to thank Judy for her contributions to NCI. She has been an outstanding CFO as she navigated NCI from a small privately held firm to the public company we are today. We are grateful for her leadership in building a strong finance infrastructure. She leaves us well positioned for the future as we build NCI into a $1 billion company. We wish her the very best and continued success,a stated Charles K. Narang, Chairman and CEO.
aI appreciate the opportunity to have been a part of the great leadership team at NCI, and feel privileged to be a part of its tremendous growth. NCI has a strong and experienced financial organization, and I have every confidence that this will be a smooth transition. I wish NCI the very best and look forward to the next chapter in my career,a said Ms. Bjornaas.
About NCI, Inc.:
NCI is a leading provider of information technology (IT), engineering, logistics, and professional services and solutions to U.S. Federal Government agencies. We have ISO 9001:2008 and other industry-leading and globally recognized certifications. NCIa™s award-winning expertise encompasses areas critical to its customersa™ mission objectives, including enterprise systems management; network engineering; cybersecurity and information assurance; software development and systems engineering; program management, acquisition, and lifecycle support; engineering and logistics; health IT/medical transformation; and training and simulation. The company is a member of the Russell 2000 and S&P Small Cap 600 indexes, and was recently named to FORTUNE Magazinea™s 2010 a100 Fastest-Growing Companiesa list. Headquartered in Reston, Virginia, NCI has approximately 2,700 employees and more than 100 locations worldwide.
Forward-Looking Statement:Statements and assumptions made in this press release, which do not address historical facts, constitute aforward-lookinga statements that NCI believes to be within the definition in the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties, many of which are outside of our control.Words such as amay,a awill,a aintends,a ashould,a aexpects,a aplans,a aprojects,a aanticipates,a abelieves,a aestimates,a apredicts,a apotential,a acontinue,a or aopportunity,a or the negative of these terms or words of similar import are intended to identify forward-looking statements.
Such statements are subject to factors that could cause actual results to differ materially from anticipated results.The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the following: our dependence on our contracts with Federal Government agencies, particularly within the U.S. Department of Defense, for substantially all of our revenue; continued funding of U.S. Government, based on a change in spending priorities, or in the event of a priority need for funds, such as homeland security, the war on terrorism or rebuilding Iraq; risk of contract performance or termination; failure to achieve contract awards in connection with recompetes for present business and/or competition for new business; adverse results of Federal Government audits of our government contracts; Government contract procurement (such as bid protest, small business set asides, etc.) and termination risks; competitive factors such as pricing pressures and competition to hire and retain employees (particularly those with security clearances); failure to successfully identify and integrate future acquired companies or businesses into our operations or to realize any accretive or synergistic effects from such acquisitions or to effectively integrate acquisitions appropriate to the achievement of our strategic plans; adverse results of U.S. Government audits of our Government contracts; economic conditions in the United States, including conditions that result from terrorist activities or war; material changes in laws or regulations applicable to our businesses, particularly legislation affecting (i) government contracts for services, (ii) outsourcing of activities that have been performed by the government, (iii) government contracts containing organizational conflict of interest (OCI) clauses, (iv) delays related to agency specific funding freezes, (v) competition for task orders under Government Wide Acquisition Contracts (GWACs), agency-specific IDIQ contracts and/or schedule contracts with the General Services Administration; and (vi) the Governmenta™s ainsourcinga of previously contracted support services and the realignment of funds to other non-defense related programs; impact of the current credit market conditions and our ability to replace our current credit facility on or before it expires on March 14, 2011 with rates currently assumed to be greater than the current rate structure; and (vi) our own ability to achieve the objectives of near-term or long-range business plans, including internal systems failures.These and other risk factors are more fully discussed in the section titled aRisks Factorsa in NCI's Form 10-K filed with the Securities and Exchange Commission (SEC), and from time to time, in other filings with the SEC, such as our Forms 8-K and Forms 10-Q.
The forward-looking statements included in this news release are only made as of the date of this news release and NCI undertakes no obligation to publicly update any of the forward-looking statements made herein, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.
