MCLEAN, Va., April 24 - BearingPoint, Inc. (NYSE: BE), one of the world's largest management and technology consulting firms, announced today that it has been awarded an information technology contract from the National Institutes of Health (NIH) potentially valued at $35.9 million over five years if all options are exercised; the first year of the contract is valued at $6.9 million. Under the new agreement, BearingPoint will support NIH's Information Enterprise Systems through the development and maintenance of its Data Warehouse and nVision projects, which will allow NIH to produce necessary business intelligence reports for its accounting and administrative business systems.
BearingPoint has partnered with NIH in the design, development and deployment of multiple business intelligence solutions to meet the agency's reporting needs for key areas of the business, including:
* Budget and Finance
* Human Resources
* Acquisition Management
* Technology Transfer (tracking of NIH's inventions, patents and licenses)
* Property Management
* Travel Management
* Staff Training and Development
"BearingPoint understands how important enterprise reporting is to large organizations like NIH, which has a complex and dynamic mission," said Kelvin Womack, senior vice president of BearingPoint's Public Health and Social Services Sector. "BearingPoint understands the strategic importance of the Data Warehouse and nVision projects, and our consulting team looks forward to continuing the success of these projects."
BearingPoint previously worked on an earlier phase of both NIH projects under a contract awarded in 2001.
About BearingPoint, Inc.
BearingPoint, Inc. (NYSE: BE) is one of the world's largest providers of management and technology consulting services to Global 2000 companies and government organizations in 60 countries worldwide. Based in McLean, Va., the firm has approximately 17,500 employees, and major practice areas focusing on the Public Services, Financial Services and Commercial Services markets. For nearly 100 years, BearingPoint professionals have built a reputation for knowing what it takes to help clients achieve their goals, and working closely with them to get the job done. For more information, visit the Company's website at http://www.BearingPoint.com.
Some of the statements in this press release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, estimates and projections. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
