CGI renews US$40.3 million in contracts supporting the U.S. Department of Housing and Urban Development’s Section 8 PBCA Program
CGI Federal Inc. (CGI), a wholly-owned U.S. operating subsidiary of CGI Group Inc. (NYSE: GIB; TSX: GIB.A), has signed contract renewals with state and local housing agency partners worth US$40.3 million through September 30, 2011. The contracts are in support of the U.S. Department of Housing and Urban Development’s (HUD) Section 8 Performance Based Contract Administration (PBCA) program.
In conjunction with state and local housing agencies, CGI administers HUD’s multi-family housing programs in California, Florida, New York, Ohio, and Washington, DC. CGI’s contract is performance-based and, since its award 10 years ago, the company has demonstrated a strong track record of performance on behalf of its partner housing agencies. CGI’s operational excellence has resulted in meeting more than 99 percent of its metrics while generating crucial revenue for its partner housing agencies, enabling them to fulfill their mission of providing housing to those in need.
“We are pleased to continue our decade-long partnership with our housing agency clients,” said Marybeth Carragher, Vice-President, CGI. “Our team delivers the support and expertise needed to help our clients ensure safe, decent, and affordable housing for low-income families and individuals.”
About CGI Federal Inc.
CGI Federal Inc. is a wholly-owned U.S. operating subsidiary of CGI Group Inc., dedicated to partnering with federal agencies to provide solutions for defense and civilian missions. Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 31,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices and centers of excellence in the United States, Canada, Europe and Asia Pacific. As at September 30, 2010, CGI's revenue was C$3.7 billion and its order backlog was C$13.3 billion. CGI shares are listed on the NYSE (GIB) and the TSX (GIB.A) and are included in both, the Dow Jones Sustainability Index and the FTSE4Good Index. Website: www.cgi.com.
All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements” within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are “forward-looking information” within the meaning of sections 138.3 and following of the Ontario Securities Act, as amended. These statements and this information represent CGI Group Inc.’s (“CGI”) intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include and are not restricted to the timing and size of new contracts, acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly-evolving information technology industry; general economic and business conditions, foreign exchange and other risks identified in the Management’s Discussion and Analysis (“MD&A”) in CGI’s Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in CGI’s annual and quarterly MD&A and Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding the foregoing. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “foresee,” “plan,” and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.
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